SFIG Quoted in Inside Mortgage Finance on HOA Super-Priority Liens

Several recent rulings surrounding HOA super priority lien cases in Nevada favored the mortgage industry, as reported by Inside Mortgage Finance.

Daniel Goodwin, Director of Mortgage Policy, told Inside MBS & ABS that SFIG, along with other industry groups, supported the concept of “first in time, first in right” and said that any private lien arising after origination of another private lien shouldn’t take priority over that deed of trust, or have the ability to extinguish it.

Previously, on November 10, 2015, SFIG sent a joint-trade association letter to the federal banking agencies urging them to implement standards or guidelines to prevent HOA super-priority liens from having the capacity to extinguish a prior perfected and recorded mortgage lien.

To participate in SFIG’s Residential Mortgage Committee, please contact William.Innes@SFindustry.org.

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