Land Use Attorneys
and Business Law Experts

Partners to Religious Organizations, Property Owners and Businesses

Banking

Consumer Financial Protection Bureau Publishes New Guides

  • October 20, 2014
  • by Zana Tomich

As reported by the Michigan Bankers Association, the Consumer Financial Protection Bureau (CFPB) issued a new “updated” mortgage rules readiness guide. The update attempts to simply the cumbersome regulations into guidelines including readiness charts and compliance aids to assist in interpreting existing mortgage regulations. The […]

Read More

Michigan Right of Inspection Law First of its Kind

  • June 2, 2014
  • by Zana Tomich

As reported by the Michigan Bankers Association (MBA), the new Michigan Right of Inspection law is the first of its kind in the country. The law addresses an occupant's responsibliity to the new purchaser after a foreclosure. The intent is to circumvent the damages and […]

Read More

Michigan proposes a "Pay it Forward" college tuition plan

  • March 19, 2014
  • by Daniel P. Dalton

As reported in today's Governing magazine, a proposal has been floated in the legislature allowing students to attend college for free if they agree to pay a fixed percentage of future income for a number of years that would pay other students college bills. A […]

Read More

Consumer Financial Protection Bureau Issues Guidance on New RESPA and TILA Rules

  • December 10, 2013
  • by Zana Tomich

The Consumer Financial Protection Bureau (CFPB) recently issued a bulletin, CFPB Bulletin 2013-12, to provide guidance in implementing some of the 2013 Real Estate Settlement Procedures Act (RESPA) and Truth in Lending Act (TILA) Servicing Final Rules. As the end of the year approaches, it […]

Read More

Endowments and the Church – A Primer

  • July 19, 2013
  • by Daniel P. Dalton

Endowments have been in the news recently with respect to religious institutions invading the principal to sustain their ministries. So what is an endowment and in general, what rules need to be followed with respect to them? Endowments are permanent funds or assets—money, securities, or […]

Read More

Foreclosure Bill Package Passes State House and Senate

  • June 25, 2013
  • by Zana Tomich

Michigan’s foreclosure bill package passed the Senate and House and will be presented to the Governor for signature in the days to come. The foreclosure bill package will likely be signed since the existing foreclosure prevention law sunsets on June 30, 2013. The bills are […]

Read More

Developers Sigh Relief as NonRecourse Mortgage Loan Act found Constitutional

  • April 29, 2013
  • by Zana Tomich

A recent Michigan Court of Appeals opinion has caught the attention of lenders and developers alike. In Wells Fargo Bank NA v. Cherryland Mall Limited, ___ Mich App___ Case No. 304682 (April 9, 2013), the Court on remand from the Michigan Supreme Court, rejected the […]

Read More

Hot Topic for Community Banks and Credit Unions: Compliance with Service Members Civil Relief Act

  • April 1, 2013
  • by Zana Tomich

The Service Members Civil Relief Act (SCRA), recently expanded, is a federal law that provides protections for military members entering into service, called to active duty, or deployed service members. It is intended to postpone or suspend certain civil obligations to enable service members to […]

Read More

Bank Not Liable for Altered Appraisal

  • March 6, 2013
  • by Zana Tomich

A recent Michigan Court of the Appeals case, Xpress Apraisal Group, Inc v. Flagstar Bank, (unpublished February 14, 2013), found a Bank was not liable for an altered real estate appraisal, which resulted in a third party’s refusal to continue doing business with Plaintiffs. The […]

Read More

Mortgage Modification Law Extended

  • January 6, 2013
  • by Zana Tomich

The Michigan Mortgage Modification law, MCL 600.3205a to 600.3205d, which was set to sunset on December 31, 2012 was renewed for six more months by the Michigan legislature. The Mortgage Modification law provides a 90-day time frame in which delinquent mortgage borrowers can work with […]

Read More
About Us

logo

The attorneys of Dalton & Tomich, PLC have the experience and the knowledge to work with you to develop a legal solution that helps accomplish your goals. Our collaborative approach has helped leaders like you grow businesses and banks, develop and expand churches, and build nonprofit organizations nationwide.