News & Analysis as of

Fair Debt Collection Practices Act Mortgages

11th Circuit Clarifies FDCPA/FCCPA Issues Re Periodic Mortgage Statements After Bankruptcy

by Burr & Forman on

In Helman v. Bank of America, 15-13672, 2017 WL 1350728 (11th Cir. April 12, 2017) the Eleventh Circuit Court of Appeal clarified important issues regarding the use of periodic mortgage statements after a bankruptcy...more

Consumer Financial Services Newsletter - February 2017

by Hinshaw & Culbertson LLP on

Seventh Circuit Finds Bank's Response to RESPA Request "Almost Perfect" - Perron v. J.P. Morgan Chase Bank, N.A., Case No. 15-cv-2206 (7th Cir. 2017) - The United States Court of Appeals for the Seventh Circuit...more

Banking & Financial Services E-Note - January 2017

by Burr & Forman on

In an order issued earlier this month, Judge Dalton of the Middle District of Florida held that in anon-bankruptcy context, allegations that collection of a mortgage debt is barred by the statute of limitations do not form a...more

Supreme Court Update: Lightfoot V. Cendant Mortgage Corp. (14-1055)

by Wiggin and Dana LLP on

Greetings, Court Fans! For those of you who spent the last six months (since cert was granted in Lightfoot v. Cendant Mortgage Corp. (No. 14-1055)) just dying to know whether the sue-and-be-sued clause in Fannie Mae's...more

FDCPA’s “Least Sophisticated Consumer” May Still Have Commonsense

by Balch & Bingham LLP on

Late December, the Fourth Circuit Court of Appeals (Fourth Circuit), in Lovegrove v. Ocwen Home Loans Srvs., upheld summary judgment in favor of a mortgage servicer against allegations under the Fair Debt Collection Practices...more

Allegedly Time-Barred Foreclosures Do Not Form Basis for FDCPA/FCCPA Lawsuits Outside Bankruptcy Context

by Burr & Forman on

In an order issued yesterday, Judge Dalton of the Middle District of Florida held that in a non-bankruptcy context, allegations that collection of a mortgage debt is barred by the statute of limitations do not form a...more

How Does the CFPB View Private Label Servicing?

by Baker Donelson on

As mortgage servicing compliance costs have risen year over year, lenders have looked for a way to decrease costs while retaining their customer visibility and brand awareness. In response to this demand, private label...more

CFPB Fall 2016 rulemaking agenda published

by Ballard Spahr LLP on

The CFPB’s Fall 2016 rulemaking agenda has been published as part of the Fall 2016 Unified Agenda of Federal Regulatory and Deregulatory Actions. The preamble indicates that the information in the agenda is current as of...more

Consumer Financial Services Newsletter - November 2016

by Hinshaw & Culbertson LLP on

D.C. Circuit Delivers First Blow to CFPB, Trump Win Delivers Second - The future of the Consumer Financial Protection Bureau (CFPB) is up for grabs following a landmark Court of Appeals Decision, PHH Corporation v....more

Leave the “Tow Truck Guy” Alone: The Ninth Circuit Rules Foreclosure of a Deed of Trust Is Not Debt Collection

by K&L Gates LLP on

The Ninth Circuit recently clarified when a trustee of a deed of trust acts as a debt collector under the Fair Debt Collection Practices Act (“FDCPA”). In a break from other courts of appeal, the Ninth Circuit held that when...more

CFPB issues Fall 2016 Supervisory Highlights

by Ballard Spahr LLP on

In its Fall 2016 Supervisory Highlights, which covers supervision work generally completed between May and August 2016, the CFPB highlights violations found by its examiners involving origination and servicing of auto...more

Banking & Financial Services E-Note - October 2016

by Burr & Forman on

Burr & Forman lawyers won a significant victory in the Eleventh Circuit earlier this month. In the case In re: David A. Failla, the U.S. Court of Appeals for the Eleventh Circuit affirmed that a person who agrees to...more

CFPB Mortgage Servicing Rule Amendments Published in Federal Register

by Ballard Spahr LLP on

The CFPB Mortgage Servicing Rule Amendments were published in the Federal Register yesterday, starting the clock for the effective date of the amended provisions.  Most of the provisions are effective on October 19, 2017. ...more

Nicklaw v. CitiMortgage, Inc.: Eleventh Circuit Holds Statutory Violation Insufficient to Confer Article III Standing Absent...

by King & Spalding on

On October 6, 2016, the United States Court of Appeals for the Eleventh Circuit issued its opinion in Nicklaw v. CitiMortgage, Inc., dismissing, for lack of Article III standing, a class action complaint that alleged...more

11th Circuit Holds That Entity Collecting Its Own Debt, Which It Acquired After Default, Is Not a “Debt Collector” Under the...

by Ballard Spahr LLP on

The 11th Circuit Court of Appeals has affirmed its prior holding in Arencibia v. Mortgage Guaranty Insurance Corp. that an entity that acquires and collects debt on its own behalf does not qualify as a debt collector under...more

Banking & Financial Services E-Note - August 2016

by Burr & Forman on

The Supreme Court’s ruling in Spokeo, Inc. v. Robins, continues to have a substantial impact on federal courts, especially with respect to alleged statutory violations of the Fair Debt Collection Practices Act. Please...more

CFPB Issues Final Rule Amending Mortgage Servicing Regulations

by Ballard Spahr LLP on

The Consumer Financial Protection Bureau (CFPB) issued its final rule amending the mortgage servicing rules under Regulations X and Z. The proposal for these amendments was issued in November 2014. The amended provisions...more

CFPB Finally Adopts Amendments To Its Mortgage Servicing Rules

by Reed Smith on

On August 4, the Bureau of Consumer Financial Protection (“CFPB”) finally adopted amendments (the “Amendments”) to its 2013 mortgage servicing rules (the “Servicing Rules”). The Servicing Rules implemented provisions in the...more

Helpful Cases for Mortgage Servicers Attempting to Comply with Mortgage Servicing Regulations After a Bankruptcy Discharge

by Bryan Cave on

Mortgage lenders and servicers face several regulations in servicing residential mortgages. There are requirements under the Truth in Lending Act (“TILA”), Real Estate Settlement Procedures Act (“RESPA”), the Equal Credit...more

CFPB Issues Final Mortgage Servicing Rules

by McGuireWoods LLP on

On August 4, 2016, the Consumer Financial Protection Bureau (CFPB) issued its long-awaited final mortgage servicing rule under the Real Estate Settlement Procedures Act (RESPA) and implementing Regulation X, and the Truth in...more

CFPB Issues Final Rule Amending Mortgage Servicing Regulations

by Ballard Spahr LLP on

The CFPB issued its final rule amending the mortgage servicing rules under Regulations X and Z.  The proposal for these amendments was issued in November 2014.  The amended provisions cover a wide range of topics, including...more

Financial Services Weekly News - August 2016

by Goodwin on

Regulatory Developments - FDIC Seeks Comments on Third-Party Lending Guidance - On July 29, the FDIC announced that it is seeking comments on proposed Guidance for Third-Party Lending addressing steps...more

CFPB: The Quarterly Review - July 2016

by White & Case LLP on

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

by Hinshaw & Culbertson LLP on

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,...

by Ballard Spahr LLP on

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

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