A New World for Mortgage Banking – What You Need to Know About the CFPB’s Final Mortgage Servicing Rules
Focus areas included FCRA, Fair Lending, ancillary fees and services (such as lender placed flood insurance), TCPA, privacy and data security and other topics. Consumer Financial Protection Bureau’s Director Kathleen...more
To sue under RESPA, one must have signed the loan, not just the mortgage. RESPA creates a cause of action but says only “borrower[s]” can use it. 12 U.S.C. § 2605(f). Accordingly, the Sixth Circuit joins the Fifth and...more
In 2014, the Consumer Financial Protection Bureau (CFPB) promulgated a number of mortgage servicing rules, including rules governing loss mitigation procedures. ...more
REAL PROPERTY UPDATE - Foreclosure/Standing: note owner had constructive possession of promissory note in original servicer’s physically possession of blank-endorsed note when it filed the complaint, and had standing to...more
PHH has filed a response in opposition to the motion filed with the D.C. Circuit by Democratic lawmakers Senator Sherrod Brown and Representative Maxine Waters to intervene in the PHH appeal. The lawmakers are, respectively,...more
The legal challenge by PHH Corp. (PHH) to a June 4, 2015, decision by the director of the Consumer Financial Protection Bureau (Bureau) in connection with the Bureau’s enforcement proceeding against PHH has captivated the...more
BELTWAY - Every Last Penny Counts - Five federal banking agencies issued a Supervisory Bulletin titled “Interagency Guidance Regarding Deposit Reconciliation Practices” (the “Guidance”). The Guidance outlines...more
The BakerHostetler 2015 Class Action Year-End Review offers a summary of some of the key developments in class-action litigation during the past year. The 2015 Year-End Review is a joint project of the firm’s Class Action...more
The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more
REAL PROPERTY UPDATE - - Foreclosure/Standing: although bank established it had possession of note prior to commencement of action, bank did not demonstrate when blank endorsement was placed on note, nor did it prove it...more
Many readers probably remember Edwards v. First American Financial Corp. for its ill-fated journey to the U.S. Supreme Court. The Supreme Court had granted certiorari to decide the issue of whether a plaintiff who brings a...more
Last year, many observers were disappointed when the U.S. Supreme Court dismissed the appeal in First American Financial Corp. v. Edwards, the case that presented the issue of whether a plaintiff who brings a RESPA claim has...more
Among the more interesting developments discussed in our webinar last week on the CFPB’s amicus program was the appeal currently pending before the Eighth Circuit in Charvat v. First National Bank of Wahoo, a case that raises...more