The Supreme Court has asked the solicitor general to weigh in on an issue that could affect lenders and borrowers alike: whether the National Bank Act (NBA) trumps state laws that require lenders to pay interest on mortgage...more
The Mississippi Supreme Court recently rejected federal preemption arguments relating to federally owned student loans. This follows other preemption rulings, as we’ve discussed here and here.
Mississippi’s attorney...more
As we’ve been tracking for over a year now, courts across the country have addressed the significant question of whether the federal laws governing federally owned or guaranteed student loans preempt state laws placing...more
4/14/2020
/ Debt Collection ,
Department of Education ,
Disclosure Requirements ,
Federal Student Loans ,
Higher Education Act ,
Loan Servicer ,
Misrepresentation ,
Preemption ,
Private Student Loans ,
Public Service Loan Forgiveness program (PSLF program) ,
State Regulators ,
Student Loan Servicers Regulation ,
Student Loans
The Seventh Circuit Court of Appeals struck a blow to student loan servicers’ arguments that certain state law claims brought by borrowers are preempted under the Higher Education Act (HEA). In a lengthy opinion issued on...more
7/2/2019
/ Appeals ,
Disclosure Requirements ,
Federal Student Loans ,
Financial Services Industry ,
Government-Guaranteed Loans ,
Higher Education Act ,
Loan Servicer ,
Misrepresentation ,
Preemption ,
Reversal ,
State Law Claims ,
Student Loans
Last week, the U.S. Court of Appeals for the Ninth Circuit issued a significant decision in favor of lenders and mortgage servicers fighting off claims that their mortgage liens were extinguished by Nevada homeowners...more
8/28/2017
/ Banking Sector ,
Fannie Mae ,
Financial Services Industry ,
Foreclosure ,
Freddie Mac ,
HERA ,
Homeowners Association (HOA) ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
Perfected Security Interest ,
Preemption
On June 27, the United States Supreme Court declined to review the Second Circuit’s decision in Madden v. Midland Funding, LLC, 786 F.3d 246 (2d Cir. 2015). By denying Midland Funding, LLC’s petition for a writ of...more
On Monday, the U.S. District Court for Nevada issued significant decisions in three cases, holding that a foreclosure on a Nevada HOA’s super-priority lien could not extinguish a deed of trust securing a debt owned by a...more