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Wed Jun 19, 2013
The Missouri Eastern District Court of Appeals allowed for an injunction to halt a St. Louis County ordinance that requires banks to notify borrowers of their right to mediation before facing foreclosure.
The Mortgage Bankers Association of Missouri requested the injunction against the ordinance, which was first passed in August 2012.
The injunction was granted January 18. In an email to clients, South & Associates announced it has confirmed the county counselor’s office will not be enforcing the ordinance based on the court ruling. The firm also stated oral arguments for the issue will not likely be heard until late April.
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