A highly contested and controversial legal defense to residential foreclosures in Maine resurfaced earlier this month with the Maine Supreme Judicial Court's decision in Finch v. U.S. Bank, N.A. Finch renewed the legal...more
In Westconnaug Recovery Co., LLC v. U.S. Bank N.A, the Rhode Island Supreme Court has continued to rule against redemption and in favor of strict application of the Rhode Island's Tax Title Act. Specifically, an interested...more
We previously reported on the U.S. Supreme Court’s decision, Tyler v. Hennepin County, where the court concluded that the State of Minnesota violated a property owner’s constitutional rights by keeping the excess sale...more
In Tyler v. Hennepin County, a unanimous U.S. Supreme Court concluded that the State of Minnesota violated a property owner's constitutional rights by keeping the excess proceeds from a tax lien sale. Geraldine Tyler owned a...more
In Laccinole v. MRS BPO, LLC, the United States District Court for the District of Rhode Island denied a frequent pro se plaintiff’s multiple lawsuit attempt at pursuing relief against the same company under the Fair Debt...more
An ever-expanding review of pre-foreclosure notices of default experienced its latest chapter in the First Circuit's recent decision reversing dismissal of suit in Aubee v. Selene. In Aubee, the borrowers challenged the...more
Anti-discrimination efforts are front and center for the Consumer Financial Protection Bureau. This is evident by the interpretive rule it recently issued relating to the Equal Credit Opportunity Act (ECOA) and Regulation B....more
In its recent Special Edition of Supervisory Highlights on COVID-19 Prioritized Assessments, the Consumer Financial Protection Bureau (CFPB) summarized challenges and risks with respect to several industries it had informally...more
2/17/2021
/ CARES Act ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Reporting Agencies ,
Coronavirus/COVID-19 ,
Financial Services Industry ,
Mortgage Servicers ,
Mortgages ,
Paycheck Protection Program (PPP) ,
Student Loans ,
Supervisory Highlights
Massachusetts moved one step closer to resolving an ongoing debate over pre-foreclosure notices of default that started with the First Circuit's decision in Thompson v. JPMorgan Chase Bank back in February of 2019. Initially,...more
We previously reported on the impact of the CARES Act on federally backed mortgage loans, including the immediate availability of a 180 – 360 day forbearance plan for borrowers impacted by the pandemic. One key feature of...more
The Consumer Financial Protection Bureau (CFPB) recently published compliance guidance—effective immediately—on the handling of information and documents during the transfer of a mortgage loan to a new servicer. Following...more
On May 6, 2020, a federal court granted ACA International's request for a temporary restraining order of the Massachusetts Attorney General's emergency regulations prohibiting debt collection calls and enforcement actions...more
5/12/2020
/ Commercial Speech ,
Coronavirus/COVID-19 ,
Debt Collection ,
Debt Collectors ,
First Amendment ,
Injunctive Relief ,
Moratorium ,
State and Local Government ,
State Attorneys General ,
State of Emergency ,
Temporary Regulations ,
TRO
Hinshaw continues to monitor the deepening circuit split over what constitutes an automatic telephone dialing system (ATDS) under the Telephone Consumer Protection Act (TCPA), which restricts certain automated calls and text...more
To assist consumer financial services lenders, servicers and investors, Hinshaw has developed an interactive tracker of state regulations related to the COVID-19 pandemic...more
The COVID-19 outbreak has resulted in unprecedented job loss for millions of Americans, creating economic uncertainty and challenges for loan servicers in 2020. Until the outbreak is controlled, missed payments on mortgages...more
3/27/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Eviction ,
Forbearance Agreements ,
Foreclosure ,
Loan Servicing ,
Moratorium ,
Mortgages ,
Proposed Rules ,
Relief Measures ,
Student Loans ,
Tenants
In Vedernikov v. Atl. Credit & Fin., Inc., (Vedernikov I), the U.S. District Court of New Jersey granted the defendant Midland Funding's motion to dismiss, which successfully argued the plaintiff should be estopped from...more
Earlier this year, Hinshaw reported on a decision by the First Circuit Court of Appeals which invalidated a Massachusetts foreclosure based on the Court's determination that the mortgage loan servicer's notice of default...more
In Kirby v. 21 Mortg. Corp., the First Circuit Bankruptcy Appellate Panel examined the Kirbys' claim that the 19 written communications they received from their mortgage holder following their Chapter 7 discharge violated the...more
Last year, we reported on a Massachusetts Land Court decision, which interpreted Uniform Commercial Code section 3-309 to conclude that a mortgagee cannot foreclose in reliance upon a lost note affidavit, because the 1990...more
This past month, Washington was busy with rule changes and proposed legislation that underscores the ongoing debate over the origination and foreclosure of reverse mortgages. First, the U.S. Department of Housing and Urban...more
In Zullo v. HMC Assets, LLC, the Massachusetts Land Court has issued a judicial about-face in deciding that a mortgage holder lacks standing to foreclose if that holder never possessed the mortgagor's original promissory note...more
Shortly after taking office, President Trump issued an Executive Order to establish a policy for regulating the United States financial system under seven "Core Principles," and to order a report from the United States...more
6/20/2017
/ Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Executive Orders ,
Financial CHOICE Act ,
Financial Institutions ,
Financial Services Industry ,
Mortgage Lenders ,
Mortgages ,
Trump Administration ,
U.S. Treasury ,
Volcker Rule
Seventh Circuit Held No Implicit Threat to Proceed to Trial by Debt Collector When Filing a Collection Lawsuit -
St. John v. CACH, LLC, No.14-2760, 2016 WL 2909195 (7th Cir. May 19, 2016) -
On May 19, 2016, the...more
6/30/2016
/ Affidavits ,
Appeals ,
Borrowers ,
Consumer Bankruptcy ,
Debt Collectors ,
Eviction ,
FDCPA ,
Foreclosure ,
Mortgages ,
Plain Error ,
TCPA ,
Third-Party Service Provider ,
Unsolicited Faxes
Plaintiff's Attempts to Turn Alleged "Clicking" and "Dead Air" into a TCPA Violation Rejected -
Norman v. AllianceOne Receivables Mgmt., Inc., No. 15-1780, 2015 WL 9286778 (7th Cir. Dec. 22, 2015) -
The Seventh...more
2/3/2016
/ Class Action ,
Debt Collectors ,
FDCPA ,
Foreclosure ,
Homeowners Association (HOA) ,
Liens ,
Mortgages ,
RI Supreme Court ,
Sales Commissions ,
Summary Judgment ,
TCPA