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Loan Modifications Equal Credit Opportunity Act

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 -
Orrick, Herrington & Sutcliffe LLP

11th Circuit: ECOA anti-discrimination provision against requiring spousal signature does not apply to defaulted mortgage during...

On April 27, the U.S. Court of Appeals for the Eleventh Circuit affirmed a lower court’s decision to enter judgment in favor of a defendant national bank following a bench trial related to claims arising from foreclosure...more

Ward and Smith, P.A.

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

Ward and Smith, P.A. on

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

Goodwin

DOJ Files Suit Against California Lenders Alleging Discriminatory Loan Modification Scheme

Goodwin on

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

Carlton Fields on

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

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