SACRAMENTO, CA – Law360, a nationally-recognized source for legal news, has published an article by W. Jason Scott and Ian A. Rambarran on a new appellate ruling that may be a game changer for lenders doing business in California.
The article focuses California’s Fifth Appellate District, which recently published its decision in Hardie v. Nationstar Mortgage LLC that ruled lenders and servicers are subject to claims of attorney’s fees should a borrower obtain a temporary restraining order (TRO) enjoining a foreclosure sale.
In their published piece, Mr. Scott and Mr. Rambarran write about this teutonic shift in the law, which had previously held that fees were recoverable only at the preliminary injunction phase. The Hardie ruling now forces lenders and servicers to retain counsel and litigate a claim within a shortened notice period of no less than 24 hours’ notice. Otherwise, lenders and loan services could be liable for attorney’s fees incurred by the borrower to bring the TRO.
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