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Loan Modifications › Appeals

Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist... more +
Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist borrowers in meeting their obligations and avoid foreclosure. Such mortgage loan modifications may include reduction of principal amount or interest rate, lengthening of loan term, and monthly payment caps. less -
Holland & Knight LLP

Financial Services Industry Braces for Impact of Eleventh Circuit's Hunstein Decision

Holland & Knight LLP on

In a first-of-its-kind ruling, the U.S. Court of Appeals for the Eleventh Circuit may have upended the long-standing and rather routine business practice of financial services companies using third-party vendors to manage,...more

Patton Sullivan Brodehl LLP

Can a Loan Modification Waive the Borrower’s Right of Reinstatement?

Patton Sullivan Brodehl LLP on

Loans secured by a deed of trust typically provide that upon default (commonly, missed interest payments) the lender may elect to “accelerate” the loan, making the entire balance of principal and interest due....more

Locke Lord LLP

California Court of Appeal Rejects Tort Duty in Reviewing Borrower for a Loan Modification, Highlighting Split Among Intermediate...

Locke Lord LLP on

On August 5, 2019, the California Court of Appeal for the Second District held that a lender owes no “tort duty of care during a loan modification negotiation.” Sheen v. Wells Fargo Bank, N.A., ___ Cal.Rptr.3d ___, 2019 WL...more

BCLP

Modifications on My Mind: When “Will” Means “Must” and a Conventional Hand Signature is Not Required

BCLP on

The Sixth Circuit has issued another opinion regarding loan modifications, following its opinion two weeks ago in Segrist v. Bank of New York Mellon (2018 WL 3773785, August 9, 2018), on which I earlier wrote. Now, in...more

BCLP

Lender’s “Boilerplate” Disavowal Dooms Rescission of a Common Loan Modification Agreement

BCLP on

In a case with potentially broad implications, the Sixth Circuit becomes the first federal circuit court to hold that the Truth in Lending Act provides no right to rescind a loan modification agreement entered into with a...more

Smith Debnam Narron Drake Saintsing & Myers,...

Warning To Creditors: The Clock Is Ticking

Smith Debnam Narron Drake Saintsing & Myers,... on

In a case of first impression, the North Carolina Court of Appeals recently held that a creditor’s fraudulent conveyance claim was time-barred, even though the creditor did not know about the fraudulent nature of the...more

Ballard Spahr LLP

11th Circuit Affirms FTC's $13.5 Million Judgment Against Mortgage Relief Fraudster

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On November 2, 2017, the U.S. Court of Appeals for the 11th Circuit affirmed a $13.5 million judgment that the FTC obtained against a group of individuals, law firms, and related entities that engaged in a massive nationwide...more

Tucker Arensberg, P.C.

A Homeowner’s Mortgage Insurance Obligation is Not Modified by a Mortgage Modification

Tucker Arensberg, P.C. on

Mortgage insurance can be an expensive proposition for homeowners at the same time that it provides assurance to lenders. Whether the term of paying insurance premiums can be extended as the result of a mortgage modification...more

Ervin Cohen & Jessup LLP

Careful Who You Trust. A Lender Can Be Liable For The Negligence And Misrepresentations Of Its Loan Servicers, Even Absent Any...

Ervin Cohen & Jessup LLP on

In the recent case of Daniels v. Select Portfolio Serving, Inc., the California Court of Appeal has held that a lender may be liable for the negligence and misrepresentations of the lender’s servicer, without any contractual...more

Troutman Pepper

Government Contract: How Can a Subcontractor Get Paid?

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G4S Technology LLC v. US, 779 F.3d 1337 (Fed. Cir. 2015) – A subcontractor worked on construction of wireless broadband networks for rural communities that was funded in part by a loan to the prime contractor from a US...more

Baker Donelson

New Case Poses Threat to Mortgage Servicers in Bankruptcies

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A new decision from the U.S. Court of Appeals for the Ninth Circuit poses a serious threat to mortgage companies that service mortgages of chapter 13 debtors. Mortgage servicers should be aware of the case's implications and...more

Ballard Spahr LLP

11th, 6th Circuits Rule on TCPA Consent for Autodialed Calls to Cell Phones

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The U.S. Courts of Appeals for the 11th and Sixth Circuits recently issued two rulings regarding when a consumer has given “prior express consent” under the Telephone Consumer Protection Act (TCPA) to receive text messages or...more

Burr & Forman

Sixth Circuit Weighs in on TCPA “Prior Express Consent”

Burr & Forman on

The U.S. Court of Appeals for the Sixth Circuit recently addressed both the timing and scope of “prior express consent” under the Telephone Consumer Protection Act (“TCPA”). The plaintiff in Stephen M. Hill v. Homeward...more

Pullman & Comley, LLC

Appellate Court Notes - Week of April 21

Pullman & Comley, LLC on

SC18877 Concurrence - Sarrazin v. Coastal, Inc. - Foreman for a plumbing contractor sued the company claiming he was entitled to overtime for traveling to job sites all over the state as he had to do so in a company...more

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