News & Analysis as of

How to Aggressively Defend Against Lender Liability Lawsuits

Introduction - 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 Amends Consumer Loan Licensing Requirements

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

Tax refunds and bankruptcy. Do they go together?

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

Michigan Appeals Court Opinion Could Affect Banks’ Response To Creditor Garnishments

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

Guarantees in Alberta

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

CFPB issues final 2014 list of rural or underserved counties

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

InfoBytes Special Alert: CFPB Finalizes Amendments To The Ability-To-Repay/Qualified Mortgage Rule

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

Arbitration Clause Of A Loan Agreement Containing A Class Action Waiver Was Not Void As Being In Violation Of Public Policy

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

Latest Trends in the Enforceability of Make-Whole Premiums

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

Attorney Fee Award to Debtor Is Affirmed Where Creditor's "Reasonable Reliance" Claims Have No Merit

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

Even More Bad Boy Liability Events: My List of Liability for Lender’s Losses or Damages

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

The List of “Bad Boy” Recourse Liability Events Keeps Growing: My “Roll Up” Version

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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