HERA Foreclosure Bar Did Not Extinguish Fannie Mae Deed Of Trust, Panel Rules

Mealey's (February 10, 2021, 1:54 PM EST) -- SAN FRANCISCO — Under the federal foreclosure bar of the Housing and Economic Recovery Act of 2008 (HERA), the purchaser of residential property subject to a deed of trust held by the Federal National Mortgage Association (Fannie Mae) “did not extinguish Fannie Mae’s first deed of trust” on the property, a Ninth Circuit U.S. Court of Appeals panel ruled Feb. 9....