Padgett Law Group (PLG) recently announced the promotion of Michelle DeVore to Director of Default Services, a firm-wide operations role. Michelle previously served as Process & Systems Manager and was responsible for integrating software and operational efficiencies throughout the firm’s footprint which includes Florida, Georgia, Tennessee, Arkansas, Texas, Ohio, and a national bankruptcy unit.
Padgett Law Group (PLG) was featured in the November issue of The M Report as a Top 25 Company to Work For. The M Report is an industry trade magazine and the list is in its second year of publication. Just three default services law firms were named to the 2019 list which included mortgage servicing companies, technology firms, and other service providers in the creditors rights’ industry.
“We’ve been talking about #PadgettPeople for years because we believe our firm has that special mix of people, passion, and performance that clients are looking for in creditors rights’ law firms today,” said Robyn Padgett, Chief Development Officer. Padgett added, “It’s great to be recognized by an industry authority for those same traits that we pride ourselves on.”
The feature details the firm’s 25+ history, awards and nominations received, and benefits that PLG employees receive. The profile also details company statistics such as the 66% of firm leaders being women; and 60% of firm leaders having been internal promotions. The full profile can be seen in the November issue of The M Report online.
On October 16, 2019, the Second District Court of Appeal in U.S. Bank v. Sturm, held that a demand letter can include amounts that accrued more than five years earlier. In reaching this conclusion, the Second District Court of Appeal relied on Grant v. Citizens Bank, N.A., 263 So. 3d 156, 157 (Fla. 5th DCA 2018) (en banc) (receding from Diamond and Velden v. Nationstar Mortg., LLC, 234 So. 3d 850 (Fla. 5th DCA 2018) ). In Grant, the Fifth District rejected the argument that a foreclosing Plaintiff could not recover damages for defaults that occurred more than five years prior to the filing of the action. *This case is not yet final, and subject to rehearing.*
Contact Marissa Yaker, Esq. here.
4th DCA holds that if a Loan Modification increases the principal balance, documentary stamps and intangible taxes must be paid.
On September 18, 2019, the Fourth District Court of Appeal in Schroeder v. MTGLQ Investors, L.P., Case No. 4D18-3177, 44 Fla. L. Weekly D2370b, held that the final judgment must be reversed as the amount included in the final judgment included an increased principal balance resulting from a loan modification agreement, on which documentary and intangible taxes were not paid. In reaching this holding, the Fourth District Court of Appeal cited to Florida Statutes 201.08(1)(b) and 199.282(4).
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