Mortgage

This panel will highlight problems with loan documentation and transfer, escrow issues in proofs of claim and post-petition, proliferation of automatic stay and discharge violation litigation, and the impact of regulatory developments in the treatment and servicing of mortgage loan claims.

Recent decades have seen substantial expansion in exemptions from the Bankruptcy Code’s provisions with respect to repurchase agreements, or “repos.” These agreements, which are equivalent to very-short-term (often one-day) secured loans, are exempt from such core bankruptcy provisions as the automatic stay, the avoidability of fraudulent transfers and the avoidability of preferences. Recent scholarship has questioned whether these exemptions are justified for mortgage-backed securities and other securities that could prove illiquid or unable to realize their long-term value in the event of the kind of panic experienced during the financial crisis of 2007-09. This panel will explore the arguments for and against revising the Bankruptcy Code’s existing treatment of these agreements.

This panel will discuss post-petition HOA dues, HELOCs, noticing, and § 522(f) and 506 motions.

Creditor Breakout

Chapter 7 Breakout Speakers: Chapter 7 Trustee: Joseph A. Baldi, Moderator Baldi Berg & Wallace, Ltd.; Chicago U.S. Trustee’s Office: Jeffrey S. Snell Office of the U.S. Trustee; Chicago Client Advocate: Barbara L. Yong Golan & Christie, LLP; Chicago Chapter 13 Breakout Speakers: Client Advocate: Nathan E. Curtis, Moderator Geraci Law L.L.C.; Chicago U.S. Trustee’s Office: M. Gretchen Silver Office of the U.S. Trustee; Chicago Chapter 13 Trustee: Glenn B. Stearns Chapter 13 Trustee; Lisle, Ill. Creditor Breakout Speakers: Berton J. Maley, Moderator Codilis & Associates, P.C.; Burr Ridge, Ill. Amy A. Aronson Aronson & Walsh, PC; Vernon Hills, Ill. Cari A. Kauffman Manley Deas Kochalski, LLC; Chicago