News & Analysis as of September 20, 2024

Loan Modifications › Fees

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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 Bank Report: November 2022

Nutter McClennen & Fish LLP on 11/30/2022

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

COVID-19 forbearance request provisions in new issuance securitizations

Eversheds Sutherland (US) LLP on 5/29/2020

The coronavirus disease (COVID-19) has created disruption in cash flows across a wide range of commercial real estate assets that has resulted in property owners requesting forbearance or other modification relief with...more

SCOTUS denies petition for certiorari in case asserting recess appointment defense to CFPB enforcement action

Ballard Spahr LLP on 6/30/2017

On Monday, the U.S. Supreme Court denied the petition for certiorari in CFPB v. Chance Edward Gordon, a case filed by the CFPB in 2012 that alleged the defendant had duped consumers by falsely promising loan modifications in...more

Petition for writ of certiorari filed in case asserting recess appointment defense to CFPB enforcement action

Ballard Spahr LLP on 11/21/2016

Since it was filed in a California federal court in July 2012, we have been following CFPB v. Chance Edward Gordon, a case in which the CFPB alleged that an attorney duped consumers by falsely promising loan modifications in...more

Ninth Circuit rejects Director Cordray’s recess appointment as defense to CFPB enforcement action; dissenting judge disagrees

Ballard Spahr LLP on 4/20/2016

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