When a mortgage note is a negotiable instrument, Article 3 governs obligations of parties and enforcement of those obligations. Whether the note is negotiable or non-negotiable, Article 9 governs how ownership may be transferred, the effect of transfer of the note on ownership of the underlying mortgage, and the right of the transferee. This panel analyzes mortgage notes under UCC Articles 3 and 9, as well as state foreclosure law trends. The panel will outline approaches to reconcile the UCC requirements and state laws regarding ownership, transfer, and enforcement of mortgage notes and mortgages. David Kantrowitz, an associate in the firm's Litigation Department and a member of its Business Litigation group, was a speaker.
Speaking Engagements August 14, 2014