Jun 5, 2023

Exo Legal Submits Amicus Brief to Tennessee Supreme Court on Behalf of Banking and Mortgage Industry Groups

By Exo Legal,

On behalf of the Tennessee Bankers Association and the Tennessee Mortgage Bankers Association, David Anthony submitted an Amicus Brief to the Tennessee Supreme Court in a case addressing a wrongful foreclosure opinion by the Tennessee Court of Appeals that, if left unchallenged, could drastically impair the status of title to thousands of foreclosed properties throughout Tennessee.

In the case at issue, Terry Case v. Wilmington Tr., N.A. as Tr. for MFRA 2014-2, No. E202100378COAR3CV, 2022 WL 2313548 (Tenn. Ct. App. June 28, 2022), the Court of Appeals ordered recission of a foreclosure sale based on a violation of the notice requirements in a deed of trust despite no harm resulting to the borrower. The associations argued in their brief that if the Court of Appeals’ decision stands, Tennessee would be only one of a few states allowing recission of foreclosure sales, which would create clouds on title for foreclosed properties for up to six years.

The Court will hear oral argument later this summer.  The full Amicus Brief is available here: 2023-05-22-Case-FileStamped-Exhibit-SubstantiveBrief