Firm Announcements

PKJ Selected as Freddie Mac Designated Counsel in PA

Legislative Updates

Senate Bill 486 is on the Senate Calendar on March 10, 2008. (An Act amending the act of December 3, 1959 (P.L.1688, No.621), known as the Housing Finance Agency Law, further providing for general authority, for notice and institution of foreclosure proceedings, for notice requirements, for assistance payments and for repayment; and providing for an ongoing foreclosure study.)

Senate Bill 483 is on the Senate Calendar on March 10, 2008. (An Act amending the act of January 30, 1974 (P.L.13, No.6), referred to as the Loan Interest and Protection Law, defining "department"; and further providing for the definition of "residential mortgage" and for the duties of the Department of Banking.)

Senate Bill 488 is on the Senate Calendar on March 10, 2008 (An Act amending the act of December 12, 1980 (P.L.1179, No.219), known as the Secondary Mortgage Loan Act, further providing for definitions, for license requirements and exemptions, for application for license, for annual license fee, for issuance of license, for license duration, for transfer of license, for powers conferred on licensees, for licensee requirements, for licensee limitations, for prepayment, for open-end loans, for authority of Secretary of Banking, for surrender of license, for suspension, for scope of act, for foreclosure, for penalties, for preservation of existing powers and for exclusions from act.)

Recent Decisions

Strauser v. PRAMCO, III, --- A.2d---, 2008 WL 555337 (Pa. Super.) (Middle District Appeal) (requiring that forbearance agreement be in writing and comply with Statute of Frauds)

PNC Bank, N.A. v. Unknown Heirs, 929 A.2d 219, 2007 PA Super 212 (alternative service held deficient where mortgagee had knowledge of possible heir and failed to join him as a defendant in foreclosure despite having previously notified the possible heir that he would be joined as a defendant)

Wells Fargo Bank, N.A. v. Long, 934 A.2d 76, 2007 PA Super 254 (action for ejectment held premature where assignee of successful bidder brought action to obtain possession before sheriff had acknowledged and recorded deed)

Figard v. PHH Mortgage Corporation, --- B.R. ---, 2008 WL 501356 (Bkrtcy.W.D.Pa.)(holding that RESPA not repealed by Bankruptcy Code Provisions where qualified written request is capable of coexisting harmoniously and no private cause of action exists under 11 U.S.C. 506(b))

Cardiello v. Casale, (In RE Phillips Group, Inc.) --- B.R. ---, 2008 WL 501360 (Bkrtcy.W.D.Pa.)(rejecting application of merger doctrine to limit secured claim to foreclosure judgment amount which erroneously omitted unpaid principal)

Community Events

William M. E. Powers III assisted a group of student volunteers serving meals at the Loaves and Fishes Soup Kitchen at the St. Mary’s Cathedral in Trenton on February 16, 2008.

Edward W. Kirn III is serving on the Board of Directors for the Githens Center, which supports individuals and families in Burlington County who are affected by cerebral palsy.

Gregory Javardian sponsored an outing for the support the ALSAC/St. Jude Children’s Research Hospital. Gregory Javardian also recently sponsored U.S. Bank’s spring 2008 Bowl-A-Thon in support of Junior Achievement.