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<p class="MsoNormal">Listmembers:<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">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. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">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.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="color:#002060">Mark J. Phelps<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#002060">Attorney, Litigation Practice Group Leader<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#002060">Desh International & Business Law ·
<a href="http://www.deshlaw.com/"><span style="color:#002060">www.deshlaw.com</span></a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#002060">11400 SE 8<sup>th</sup> Street, Suite 260, Bellevue, WA 98004<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#002060">Direct: (425) 242-3398 <b>·</b> Fax: (425) 968-7571<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#002060">Email: <a href="mailto:mphelps@deshlaw.com">
<span style="color:#0563C1">mphelps@deshlaw.com</span></a><o:p></o:p></span></p>
<p class="MsoNormal"><a href="http://www.deshlaw.com/"><span style="color:windowtext;text-decoration:none"><img border="0" width="392" height="167" style="width:4.0833in;height:1.7395in" id="Picture_x0020_1" src="cid:image001.png@01D31FED.679562F0" alt="Email Signature Image"></span></a><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:9.0pt;color:black;background:#F9F9F9">This message may contain information which is confidential and/or protected by attorney-client privilege. If you are not the intended recipient, disclosure, copying, distribution,
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<p class="MsoNormal"><o:p> </o:p></p>
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