News & Analysis as of

Creditors Borrowers Mortgages

Alston & Bird

European Enforcement Guide

Alston & Bird on

In the current economic climate, it is important that lenders understand how they can enforce security and debt claims, to help in assessing options in the event of default by their customers, and when structuring new...more

Sheppard Mullin Richter & Hampton LLP

District Court Dismisses CFPB Redlining Action Against Nonbank, Limits ECOA’s Reach

On February 3, the U.S. District Court for the Northern District of Illinois issued an opinion and order dismissing with prejudice the CFPB’s complaint for violations of the ECOA against a mortgage lender and its owner...more

Nelson Mullins Riley & Scarborough LLP

Rehearing Recently Sought in South Carolina Appeals Court Case That May Affect the Priority of Refinance Mortgages

The South Carolina Court of Appeals rejected the replacement mortgage doctrine on Nov. 25, 2020 and held a home equity line of credit had priority over a subsequent mortgage that secured refinancing of a mortgage prior in...more

Hinshaw & Culbertson LLP

A Reminder for Borrowers: Post-Discharge Communications by Creditor Must Coerce or Harass in Order to Violate Bankruptcy Law

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

Bradley Arant Boult Cummings LLP

The ABI Commission’s Final Report on Consumer Bankruptcy Issues: What Mortgage Creditors Need to Know

We previously provided you with some of the American Bankruptcy Institute’s Commission on Consumer Bankruptcy’s recommendations to improve the consumer bankruptcy system. As the commission noted, changes in bankruptcy law...more

Snell & Wilmer

Everyone Wins When a Foreclosure Sale Generates Excess Proceeds

Snell & Wilmer on

When a foreclosure sale generates more money than needed to pay off the lien, the excess proceeds usually go first to creditors in the order of their priority, and second to the owner after creditors are paid in full. So, in...more

Ward and Smith, P.A.

North Carolina Supreme Court Holds That Liberal Standard of Notice Pleading Applies to Judicial Foreclosure Actions

Ward and Smith, P.A. on

In an important decision for creditors, the North Carolina Supreme Court recently clarified the distinction between judicial foreclosure and non-judicial foreclosure by power of sale. In U.S. Bank v. Pinkney, the Supreme...more

Bradley Arant Boult Cummings LLP

TILA Notice Requirement Not Retroactive: Ninth Circuit

The Ninth Circuit Court of Appeals recently ruled that a 2009 amendment to the Truth in Lending Act (TILA) does not apply retroactively. In a putative class action, Plaintiffs Mohammad and Rosa Talaie brought a claim...more

Orrick - Finance 20/20

EBA Consults on its Benchmark Rate Under the MCD

Orrick - Finance 20/20 on

The Mortgage Credit Directive (2014/17/EU) (MCD) requires that creditors create two illustrative examples for variable rate mortgages on the basis of a benchmark rate specified by the EBA. Consequently, the EBA has developed...more

Ballard Spahr LLP

CFPB finalizes additional revisions to mortgage rules

Ballard Spahr LLP on

On July 10, 2013, the CFPB issued a final version of modifications proposed in April 2013 to mortgage rules adopted in January 2013. Most of the modifications address the ability to repay/qualified mortgage rule, and...more

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