Real Estate and Mortgage Law: Sufficiency of Mortgagee’s Notice of Right to Cure to Borrower
Verrill filed an amicus brief on behalf of the Maine Association of Mortgage Professionals in a case involving an issue of first impression under Maine law regarding the sufficiency of a statutory notice of right to cure given by a mortgagee through its agent. As the Maine Supreme Judicial Court put it, the narrow interpretation proffered by the mortgagor would have prohibited even a mortgagee’s attorney from giving a notice of a right to cure on behalf of a mortgagee client. The Law Court adopted the more practical interpretation consistent with that proffered by the Maine Association of Mortgage Professionals and Verrill. The decision is Wilmington Savings Fund Society, FSB v. Needham, 2019 ME 42.