Case Study: Mathews V. PHH Mortgage

Law360, New York (June 11, 2012, 3:34 PM EDT) -- Banks and other mortgage lenders should be aware of a recent Virginia Supreme Court decision requiring that a lender hold a face-to-face meeting with the borrower before foreclosure in FHA/HUD cases. In Mathews v. PHH Mortgage Corp., the court held that a foreclosure sale was void because the bank had not held the face-to-face meeting required by the HUD regulations (24 CFR § 203.604).

Beyond the issue of the face-to-face meeting, the opinion is important in the way the court approached the issue. The court held...
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