[WSBARP] Condo Association Superpriority Liens vs. FHFA: Ninth Circuit Speaks

[Mark Phelps]

Listmembers:

An FYI that on Friday, per the attached, the Ninth Circuit decided against condo associations having superpriority liens and in favor of the FHFA as holder of FNMA and FHLMC loans. It  basically held that as the Nevada superpriority law conflicted with the FHFA statute, the statute preempted it.

This decision, while, as it was in line with earlier Nevada DC decisions, was not unexpected, will impact association disputes on FNMA and FHLMC loans.

Mark J. Phelps
Attorney, Litigation Practice Group Leader
Desh International & Business Law * www.deshlaw.com<http://www.deshlaw.com/>
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Direct: (425) 242-3398 * Fax: (425) 968-7571
Email: mphelps at deshlaw.com<mailto:mphelps at deshlaw.com>
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