February 2, 2011
UTA Continues Fight in Nevada Regarding ‘Cease & Desist Order’
 UTA is filing an amicus in an appeal The UTA has retained the firm of Wright Finlay & Zak to file an Amicus Brief in the Maves appeal before the 9th Circuit. The key issue in the appeal is whether a foreclosure trustee must be licensed under Nevada’s Debt Collection Laws in order to handle foreclosures in Nevada. As background, Nevada’s Financial Institution Department (“FID”) sent Quality Loan Services a cease and desist letter last summer. Quality challenged the letter and the parties agreed upon a briefing schedule and hearing date for December 13th. The UTA retained Wright, Finlay & Zak to file an Amicus Brief in the administrative matter. Surprisingly, the FID refused to even let the UTA file a brief. The FID decision is expected any day. Recently, several other trustees have received similar Cease & Desist Orders from the FID. We take this as a sign that the FID will be ruling that all trustees must be licensed to conduct foreclosures in Nevada. If that happens, our only recourse (other than getting licensed) will be to appeal the Administrative ruling to the District Court. This would be a lengthy and expensive process. Given the potential of a negative ruling by the FID and the delay and cost associated with an appeal to the District Court, the Maves appeal becomes extremely important to the UTA and its Members. The Maves matter is already on appeal before the 9th Circuit. If we can prevail at this stage, it should negate any negative ruling by the FID and avoid having to appeal that ruling. Since this licensing issue could seriously impact many of the UTA’s members, any contributions to the Amicus Fund for this issue, would be greatly appreciated. Please send your contributions to: (make check payable to ‘United Trustees Association’) UTA Amicus Brief Fund |