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Judicial state NPLs are darlings to DCM

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Non-performing residential loans that are often shunned for their associations with the toughest local workout laws have become a priority for Distressed Capital Management, said CIO Matthew Browndorf. DCM, an Irvine, California component of Plutos Sama LLC, recently raised hundreds of millions of dollars to begin building a portfolio of NPLs in “judicial” states where foreclosures are managed through courts, including some highly populated states such as New York, New Jersey and Florida,…

Plutos Sama, LLC Announces Acquisition of the Hunoval Law Firm

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IRVINE, Calif.-(BUSINESS WIRE)-Plutos Sama, LLC is expanding its list of law firm holdings in the first quarter of 2017 as it enters into binding negotiations for the acquisition of The Hunoval Law Firm, a law firm offering default services for its clients in North & South Carolina and Virginia. The Hunoval acquisition is in line with Plutos Sama’s controlled expansion plans. “We are excited about this acquisition that will amplify the comprehensive legal service offerings to our clients…

Plutos Sama, LLC Closes Peterman Acquisition and Expands Throughout the Midwest

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IRVINE, Calif.(BUSINESS WIRE)Plutos Sama, LLC announced today that it has completed the acquisition of J Peterman Legal Group, LLC (“JPLG”), a law firm in Wisconsin with offices in Illinois and Indiana, increasing the Firms Midwest presence after entering into its final agreements on September 16, 2016.“This acquisition enhances our legal service offerings by adding tremendous talent to our pool of attorneys at BP Law,“ “This acquisition enhances our legal service offerings by adding…

Plutos Sama, LLC Closes Peterman Acquisition And Expands Throughout The Midwest

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Irvine, Calif. – (October 28, 2016) – Plutos Sama, LLC announced today that it has completed the acquisition of J Peterman Legal Group, LLC, a default law firm practicing in Wisconsin with satellite offices in Illinois and Indiana, and it has already started to make its presence stronger in the Midwest. Plutos Sama and J Peterman Legal Group entered into its final agreements on September 16, 2016.  “The acquisition of J Peterman Legal Group enhances our legal service offerings by adding…

Maryland Fiddles With Foreclosure Statute Of Limitations (Or Does It?)

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Statutes of limitations have been a hot topic in the mortgage servicing industry but there has previously been no need for Maryland to be included in that discussion. Now, however, due to a couple of statutes passed by the Maryland General Assembly, it is important for the industry to be aware of these statutory changes and to consider the implications on the time in which a servicer has to institute foreclosure regarding owner occupied properties. The author’s opinion is that the applicable statute…

The Foreclosure Process: If You Don’t Pay Your Mortgage, the Bank Will (Eventually) Take Your House

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The standard work on foreclosure law in Maryland until recent history was Gordon on Foreclosures in Maryland, 4th Ed. (Micpel 2004).  This reference work, written and edited by Alexander Gordon, IV, is a book of significant heft, containing 42 chapters and totaling 2,022 pages of thoughtful analysis and research by Gordon accumulated over many years.  In an article written after Gordon’s death, a colleague recounted a story that Gordon would often tell about his mother, where she would ask Gordon…

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