Fair Debt Collection Practices Act Mortgages

News & Analysis as of

CFPB: The Quarterly Review - July 2016

In This Issue: •The CFPB Speaks •Rulemaking •Debt Collection •Payday Lending •Mortgages •Upcoming in 2016 - In the second quarter of 2016, the CFPB continued its strong pace of activity, initiating two...more

Consumer Financial Services Newsletter - June 2016

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

Foreclosure Firm Did Not Violate FDCPA By Alleging that Mortgagor on FHA Insured Loan Was Personally Liable for Deficiency,...

A federal district court in Illinois recently dismissed a putative class action against a foreclosure firm, holding that an allegation in a foreclosure complaint that the mortgagor is personally liable for any deficiency on a...more

CFPB: The Quarterly Review - April 2016

If the first quarter is any indication, 2016 is going to be a busy year for the CFPB and market participants alike. The CFPB Speaks - Regulation by enforcement - On March 9, during his prepared remarks to...more

What You Need to Know About the CFPB's Priorities for 2016 and 2017

The CFPB recently announced its policy priorities for the next two years. There are not too many surprises, since the CFPB has been targeting most of these areas in recent months and years. Here's what the Bureau is planning,...more

Recent Eleventh Circuit Reversal Sparks Upward Trend in Estimated-Fee FDCPA Litigation

On December 3, 2015, the Eleventh Circuit issued an opinion that has carved a path for plaintiffs challenging their communications with loan servicers. The decision, Prescott v. Seterus, Inc., reversed a grant of summary...more

Florida District Court Holds That Successor and Assign of Original Lender Has Standing to Enforce Jury Trial Waiver While Loan...

While California does not permit pre-dispute jury trial waivers, jury trial waivers are enforceable in many states. The U.S. District Court for the Southern District of Florida recently held in Thompson v. Caliber Home Loans,...more

CFPB Enforcement Update

This update analyzes the trends and patterns in the Consumer Financial Protection Bureau’s publicly available enforcement actions. Leveraging the analysis in our December 2014 White Paper, CFPB Enforcement by the Numbers...more

Consumer & Class Action Litigation Newsletter - January 2016

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

Banking & Financial Services E-Note - January 2016

In Deutsche Bank Nat’l Trust Co. v. Estrella Perez, et al., No. 3D15-58, 2015 WL 8347002 (Fla. 3d DCA Dec. 9, 2015), Florida’s Third District Court of Appeal held that the trial court erred in dismissing a foreclosure case on...more

CFPB Releases Fall 2015 Report Touting Recovery of Millions Through Supervisory Actions

On November 3, the Consumer Financial Protection Bureau (CFPB) released its fall 2015 supervisory report concerning enforcement actions from May 2015 through August 2015. The Bureau highlights violations in the mortgage...more

Dodd-Frank News: November 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

Financial Services Report, Fall 2015

BELTWAY - Straight Out of the Seventh Circuit The Seventh Circuit recently affirmed a lower court’s ruling that the SEC cannot be sued in district court to stop it from bringing an administrative action. Bebo v. SEC, No....more

Counsel’s Corner: Does the CFPB Really Understand Non-Judicial Foreclosures?

What is the CFPB's stake in this issue? - The FDCPA is a very powerful statute. It touches a lot of areas of consumer protection. The CFPB is really just exploring it and flexing its muscles in that area. It's working on...more

Second Circuit: Transfer of Mortgage Servicing Rights Triggers FDCPA Disclosure Requirement

A federal appeals court has ruled that a nonbank mortgage servicer’s notice of servicing rights transfer sent pursuant to RESPA constitutes debt collection and thus triggers mandatory FDCPA disclosures. The Second Circuit...more

Sixth Circuit Holds that a Business Entity Is a "Person" for Purposes of FDCPA's Enforcement Provision

The Sixth Circuit Court of Appeals recently held that a limited liability company (“LLC”) constitutes a “person” within the meaning of the Fair Debt Collection Practices Act (FDCPA or the “Act”), in Anarion Investments LLC v....more

Servicers Beware: RESPA Transfer of Servicing Letter May Trigger FDCPA Initial Debtor Communication Disclosure Requirement

In Hart v. FCI Lender Services, Inc., the Second Circuit made it clear that servicers should pay close attention to initial communications with borrowers upon commencing loan servicing when it determined in an August 12, 2015...more

Limited Liability Company Can Sue as “Person” Under FDCPA, Sixth Circuit Rules

A limited liability company is a “person” that can file a lawsuit under the Fair Debt Collection Practices Act (FDCPA), the U.S. Court of Appeals for the Sixth Circuit has ruled. In Anarion Investments LLC v. Carrington...more

CFPB Examination Resource Guide

CFPB has explained to industry participants what to expect in examinationss, both in terms of exam process and covered laws & regs. SUPERVISION AND EXAMINATION MANUAL – VERSION 2.0 First issued in 10/2011, revised &...more

No Notice of Mortgage Assignment in Florida? No Problem

Earlier this month, the United States District Court for the Southern District of Florida in Summerlin Asset Mgmt. V Trust v. Jackson decided an issue of first impression regarding whether compliance with Florida Statute...more

Dodd-Frank News: June 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

Locke Lord QuickStudy: CFPB Releases Spring 2015 Regulatory Agenda

On Friday, May 22, 2015, the CFPB released its Spring 2015 Rulemaking Agenda (Agenda), as mandated by the Regulatory Flexibility Act. These biannual agendas generally include details regarding rulemaking activity at the...more

UDAAP Council Weekly UDAAP Standards Report - 4/22/2015

Every week, courts around the United States issue decisions addressing aspects of civil UDAAP claims. In an effort to illuminate the UDAAP standards, below is a sampling of some of this week’s UDAAP decisions on the meaning...more

Dodd-Frank News: April 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

Third Circuit Rules FDCPA Claims Can Be Based on Foreclosure Complaints

The U.S. Court of Appeals for the Third Circuit recently ruled that foreclosure complaints can be the basis of Fair Debt Collection Practices Act (FDCPA) claims. This decision continues the Third Circuit's expansive...more

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