News & Analysis as of

Debt Collection Mortgage Lenders

Alston & Bird

CFPB and FTC Amicus Brief Signals Stance on “Pay-to-Pay” Fees under FDCPA

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What Happened? On February 27, the Consumer Finance Protection Bureau (CFPB) and the Federal Trade Commission (FTC) filed an amicus brief in the 11th Circuit case Glover and Booze v. Ocwen Loan Servicing, LLC arguing that...more

Hudson Cook, LLP

CFPB Bites of the Month - January 2024 - A Hazy Shade of Winter With the CFPB

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In this month's article, we share some of our top "bites" for the prior and current month covered during the January 2024 webinar....more

Cooley LLP

Latest CFPB Supervisory Highlights Identify Novel Violations Across Host of Financial Products and Services

Cooley LLP on

On July 26, 2023, the Consumer Financial Protection Bureau (CFPB) issued its Summer 2023 Supervisory Highlights describing key findings and violations identified during examinations conducted between July 2022 and March 2023....more

Alston & Bird

Consumer Finance State Roundup - June 2023

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The pace of legislative activity from this year’s current session can make it hard to stay abreast of new laws.  The Consumer Finance ABstract’s “Consumer Finance State Roundup” is intended to provide a brief overview of...more

Ballard Spahr LLP

CFPB takes aim at sniping zombie mortgage loans

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The Consumer Financial Protection Bureau (“CFPB”) recently issued advisory guidance on the enforcement of time-barred mortgage loans. A time-barred mortgage loan is one where the statute of limitations has expired. The...more

Bradley Arant Boult Cummings LLP

CFPB Issues Guidance to Lenders and Collectors on So-Called Zombie Second Mortgages

On April 26, 2023, the CFPB issued an advisory opinion clarifying that a debt collector who brings or threatens to bring a foreclosure action to collect a time-barred mortgage debt may violate the Fair Debt Collection...more

Alston & Bird

CFPB Publishes Fall 2022 Supervisory Highlights

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A&B Abstract: On November 16, 2022, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) released its Fall 2022 Supervisory Highlights (Issue 28) (the “Supervisory Highlights”), which, among other things, announces...more

Carlton Fields

Eleventh Circuit Addresses Potential Conflict Between FDCPA and TILA, Holds That Debt Collector Must Comply With Both

Carlton Fields on

On July 1, 2022, the Eleventh Circuit Court of Appeals issued a published decision in Lamirand v. Fay Servicing LLC that addressed an asserted conflict between the Fair Debt Collection Practices Act (FDCPA) and the Truth in...more

Farrell Fritz, P.C.

An Interesting Tale of New York’s One-Action Rule

Farrell Fritz, P.C. on

As mortgage loan transactions continue to become increasingly complex, lenders often worry about the remedies they have if borrowers fail to live up to their obligations. In the event of a default, lenders have the choice...more

Bradley Arant Boult Cummings LLP

CFPB Issues Debt Collection Guidance and Creates More Uncertainty for Mortgage Servicers

On October 29, 2021 — just 32 days prior to the November 30, 2021 effective date — the Consumer Financial Protection Bureau (CFPB) released new guidance regarding the debt validation notice requirements that are part of the...more

Goodwin

2020 Year in Review: Consumer Finance

Goodwin on

For so many people and companies, 2020 was a year of uncertainty unlike any other in recent memory. It was no different for the financial services industry. The biggest uncertainty was COVID-19. The global pandemic had a...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights: Issue 11, December 2020

Welcome to the Last All Consuming Issue of 2020 - Welcome to our last issue of All Consuming for 2020, a year of unprecedented obstacles. We all watched as the financial industry responded to those obstacles, with...more

American Conference Institute (ACI)

[Virtual Event] 27th NATIONAL FORUM ON Residential Mortgage Regulatory Enforcement & Litigation - November 17th - 18th, 9:00 am -...

ACI’s Residential Mortgage Forum is a premier gathering of leading servicers, lenders, external counsel, and regulators engaging in dialogue on how to navigate the very complex residential mortgage enforcement and litigation...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights: Issue 7, October 2020

Is a Cap on Payday Loan Rates About Protecting the Poor or Eliminating a Service? "Industry representatives say the proposed cap would drive most, if not all, payday lenders out of business and leave their customers...more

Troutman Pepper

The Eastern District of Wisconsin Reaffirms the Importance of the Least Sophisticated Consumer Standard in Drafting Collection...

Troutman Pepper on

A recent decision out of the Eastern District of Wisconsin provides an important reminder to loan servicers that a statement in a debt collection letter could be considered misleading under the Fair Debt Collection Practices...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

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Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending February 14, 2020

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Real Property Update - Foreclosure / Standing: Where plaintiff was substituted in as a party plaintiff after original note was filed with the court, introduction of original note bearing blank indorsement into evidence at...more

Bradley Arant Boult Cummings LLP

In Alabama, Not All Debts Are Created Equal

Alabama’s materialman’s lien statute (specifically, Ala. Code § 35-11-211) was intended to provide construction lenders priority over materialmen as to debts relating to construction projects, and this intent was recently...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending November 8, 2019

Carlton Fields on

Financial Services Update - FDCPA & FCCPA / Debt Collection Activity / Monthly Mortgage Statements: Monthly mortgage statements required by TILA and sent to plaintiff did not amount to “debt collection” because they did...more

Bradley Arant Boult Cummings LLP

Not All Debts Are Created Equal - Construction and Procurement Law News, Q3 2019

Alabama’s materialman’s lien statute (specifically, Ala. Code § 35-11-211) was drafted with the intent of providing construction lenders priority over materialmen as to debts relating to construction projects. This intent was...more

Smith Debnam Narron Drake Saintsing & Myers,...

First Circuit Affirms Bankruptcy Court’s Judgment in Favor of Mortgage Company

A First Circuit Bankruptcy Appellate Panel (the “Panel”) recently held that a mortgage company’s communications did not violate the discharge injunction when viewed under an objective standard and considering the facts and...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending April 26, 2019

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Real Property Update - • Foreclosure / Reverse Mortgage / Condition Precedent: bank failed to establish that the subject property was not the principal residence of surviving co-borrower under its reverse mortgage, a...more

Smith Debnam Narron Drake Saintsing & Myers,...

CFPB Issues Semi Annual Report to Congress

The CFPB has issued its Semi-Annual Report to Congress for the time period beginning April 1, 2018 and ending September 30, 2018. The Report is the first issued by newly confirmed Director Kathy Kraninger and outlines the...more

Manatt, Phelps & Phillips, LLP

Mortgage Lenders, Servicers Fall Under California’s Rosenthal Act

California’s Rosenthal Fair Debt Collection Practices Act encompasses mortgage lenders and servicers, a state appellate panel ruled, weighing in on an issue that has split the federal district courts in the state. Servicers...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Weeks Ending December 1 & 8, 2017

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REAL PROPERTY UPDATE - - Foreclosure/Errors in Legal Description: error in legal description did not preclude judgment of foreclosure because property was sufficiently identified by accurate lot and tract, street address,...more

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