Abigail C. Field-

Foreclosures are often done in the name of mortgage servicers rather than the person who actually owns the defaulted loan. Fannie Mae, for example, generally requires servicers to foreclose in the servicers’ name rather than Fannie Mae. (The link is to Fannie Mae’s current servicing guidelines; see Section 101 at p. 801-2.) Well, based on this recent opinion, the practice should no longer fly in Georgia, at least if servicers are trying to foreclose without going to court. In addition the many Georgia foreclosures servicers have already completed non-judicially are now in question.

Only Secured Creditors Can Foreclosure Non-Judicially in Georgia

[REALITY CHECK]

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