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Loan Modifications › Consumer Lenders

Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist... more +
Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist borrowers in meeting their obligations and avoid foreclosure. Such mortgage loan modifications may include reduction of principal amount or interest rate, lengthening of loan term, and monthly payment caps. less -
Nutter McClennen & Fish LLP

Nutter Bank Report: November 2022

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Headlines: CFPB Reminds Credit Bureaus and Furnishers of Their Obligations to Investigate Disputes The CFPB has issued guidance on the obligations of both credit bureaus and furnishers of consumer credit information,...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending November 15, 2019

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Real Property Update - Foreclosure / Notice: Mail log sufficient evidence to establish mailing of notice to borrower of default and possibility of foreclosure – Stacknik v. U.S. Bank, N.A., No. 2D18-2156 (Fla. 2d DCA Nov....more

Ward and Smith, P.A.

Lenders: Take a Hint! Forbearance or Modification Agreements Should Contain Specific Waiver Language to Protect Against...

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Lenders must comply with a constantly changing series of State and Federal laws and regulations. When loan relationships sour, and lenders seek to collect, borrowers and guarantors may allege the lender has violated some...more

BCLP

Lender’s “Boilerplate” Disavowal Dooms Rescission of a Common Loan Modification Agreement

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In a case with potentially broad implications, the Sixth Circuit becomes the first federal circuit court to hold that the Truth in Lending Act provides no right to rescind a loan modification agreement entered into with a...more

Ward and Smith, P.A.

Individual Chapter 11 Plans Also Are Just About Written in Stone

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In an article last year, we informed you about a ruling from the United States Bankruptcy Court for the Eastern District of North Carolina, in In re Royal, holding that debtors seeking modification of a confirmed Chapter 13...more

BCLP

Handy List of Basic Issues to Consider for the Transactional Workout

BCLP on

While significant energy here at the Bankruptcy Cave is devoted to substantive bankruptcy matters, not all aspects of a general insolvency practice are always fun and litigation. Oftentimes insolvency lawyers add the most...more

Goodwin

DOJ Files Suit Against California Lenders Alleging Discriminatory Loan Modification Scheme

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On August 23, 2016, the Department of Justice (DOJ) announced the filing of a lawsuit in the United States District Court for the Northern District of California against several California-based mortgage loan modification...more

Carlton Fields

CFPB Reports Continued Mortgage Servicing and Other Violations of Consumer Financial Law

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In its Supervisory Highlights released earlier this summer, the CFPB reported its examination observations in consumer reporting, debt collection, mortgage origination and servicing, fair lending, and student loan servicing....more

Ballard Spahr LLP

CFPB highlight mortgage complaints in third monthly complaint report

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The CFPB has issued its September 2015 complaint report, the third in its new series of monthly complaint reports. The new report spotlights mortgage complaints and complaints from consumers in the Denver, Colorado metro...more

Goodwin

No Summer Vacation for Student Lending Companies as Enforcement Activity Continues

Goodwin on

Student lending continues to remain in the crosshairs of federal and state consumer finance regulators during the summer months, with over five enforcement actions and investigations in recent weeks. As covered in both...more

Burr & Forman

Sixth Circuit Weighs in on TCPA “Prior Express Consent”

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The U.S. Court of Appeals for the Sixth Circuit recently addressed both the timing and scope of “prior express consent” under the Telephone Consumer Protection Act (“TCPA”). The plaintiff in Stephen M. Hill v. Homeward...more

Burr & Forman

Another Bankruptcy Court Confirms Plan Reference to “Surrender” Means Not Defending a Lender’s Foreclosure

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Foreclosure defense and bankruptcy often go hand in hand, but sometimes it seems like the left hand doesn’t talk to the right. This has proven especially common with bankruptcy plans that propose to “surrender” real property...more

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