The mortgage industry in the state of Nevada remains in flux as Nevada courts continue to deal with the aftermath of the Nevada Supreme Court’s September 2014 decision in SFR Investments Pool 1, LLC v. U.S. Bank, N.A., where the Court held that under Nevada law, a properly noticed Home Owners Association (HOA) sale could extinguish a first deed of trust. Following the decision, lenders and servicers in Nevada have been heavily involved in litigation regarding the propriety of Nevada HOA foreclosure sales in both federal and state courts. Even with the latest weigh-in by the state Supreme Court in New York Community Bancorp v. Shadow Wood Homeowners Association, Inc. & Gogo Way Trust, there remains to be significant issues/defenses pending development/clarification. This presentation aims to provide an overview of the outstanding issues and the legislative/judicial context in which these issues are being litigated by lenders, HOAs and third-party bidders. Those involved should also be aware of recent changes to the HOA foreclosure statute, effective October 1, 2015, which expanded the rights and protections of both lenders and unit owners caught up in the Nevada HOA foreclosure fiasco. We are hopeful that this presentation will equip its attendees with the general knowledge to better assist his/her client in dealing with HOA liens and foreclosure proceedings.

Course Highlights Include:

What is super-priority and why it matters

Current state of HOA litigation

S.B. 306

Protecting homeowner’s investment from HOA

Recovering homeowner’s investment after HOA foreclosure