Condo Adviser: What is 'FHA approved,' exactly?
Bill on Bankruptcy: The Market's Unquenchable Thirst for Junk
Following an economic downturn, lenders are inundated with lender liability suits typically based on purported promises to extend the maturity dates of loans, alter the terms of loan agreements, or to...more
Louisiana Governor Bobby Jindal recently signed HB 766 into law, which amends numerous provisions regulating creditors engaging in any consumer credit or deferred presentment transaction. Under the law, a creditor may not...more
Now that it's the year 2014, are you expecting a refund on your taxes for 2013? If so, are you also thinking about filing bankruptcy? Let's see how that might work....more
The Michigan Court of Appeals recently issued an opinion that may have a big impact on how banks respond to creditor garnishments for customers who are in default on their loans from the bank.
In Ladd v Motor City...more
A guarantee is a deed or written agreement in which a person enters into an obligation to answer for a default or omission of another person. Creditors commonly require guarantees from third parties before loaning money to...more
The CFPB has released a final list of “rural” or “underserved” counties for use in 2014. The CFPB has indicated that creditors may rely on this list as a safe harbor to determine whether a county is “rural” or “underserved”...more
Yesterday afternoon, the Consumer Financial Protection Bureau (“Bureau”) finalized important amendments (the “Amendments”) to its ability-to-repay/qualified mortgage rule (the “Rule”) concerning the extent to which loan...more
In Baldwin v. Regions Financial Corp., 98 So. 3d 1201 (Fla. 3d DCA 2012), the District Court of Appeal of the Third District of Florida held that an arbitration clause of a loan agreement, containing a class action waiver,...more
A lender’s entitlement to a make-whole premium, that is, a prepayment penalty designed to compensate the lender for the loss of interest payments it would have received had the borrower continued to service the debt through...more
In Heritage Pacific Financial LLC v. Machuca, 2012 DJDAR 16803 (2012), the US Bankruptcy Appellate Panel for the Ninth Circuit decided an interesting attorney fee case arising in the commercial litigation context. The fee...more
In addition to the events that create “full recourse” liability (for the entire loan), bad boy liability also includes losses or damages incurred by the Lender based upon another list of “bad” events or triggers. I’m sure...more
Several months ago, I mused that, due to the conservative trending of commercial real estate lending, the list of “bad boy” exceptions (to a “no personal liability” deal) could be viewed as a full recourse deal. In other...more
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