News & Analysis as of September 22, 2024

Mortgages › Time-Barred Debt

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The term "mortgage" typically refers to a mortgage loan. A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +

Revival of Time-Barred Zombie Mortgages May Come Back to Haunt Debt Collectors

Bilzin Sumberg on 6/14/2023

Last month, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion on the attempted enforcement of time-barred alleged debt collection rights as to second mortgage loans. It is a violation of the Fair Debt...more

Consumer Financial Protection Bureau Issues “Zombie Mortgage” Advisory Opinion

Adams and Reese LLP on 6/5/2023

The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion last month to affirm that the Fair Debt Collection Practices Act (FDCPA) and its implementing Regulation F prohibit a debt collector, as that term is...more

CFPB warns debt collectors on “zombie mortgages”

Orrick, Herrington & Sutcliffe LLP on 5/1/2023

On April 26, the CFPB issued an advisory opinion affirming that the FDCPA and implementing Regulation F prohibit covered debt collectors from suing or threatening to sue to collect time-barred debt. As such, a debt collector...more

CFPB Issues Advisory Opinion on Debt Collection Practices

Shipkevich PLLC on 4/26/2023

On April 26, 2023, the Consumer Financial Protection Bureau (CFPB) released an advisory opinion to clarify that it is against the law for a debt collector to sue or threaten to sue in order to collect a time-barred debt, as...more

Financial Services Weekly Roundup: OCC Finalizes New CRA Rule; Regulators Continue To Provide COVID-19-related Relief

Goodwin on 5/21/2020

In This Issue. The Office of the Comptroller of the Currency (OCC) finalized a rule to strengthen and modernize regulations under the Community Reinvestment Act; the Securities and Exchange Commission (SEC) voted to adopt...more

Nutter Bank Report: February 2020

Nutter McClennen & Fish LLP on 2/27/2020

Federal Reserve Revises Framework for Determining Control of a Banking Organization The Federal Reserve has adopted a final rule to simplify and clarify its regulations for determining control of a banking organization for...more

Allegedly Time-Barred Foreclosures Do Not Form Basis for FDCPA/FCCPA Lawsuits Outside Bankruptcy Context

Burr & Forman on 1/11/2017

In an order issued yesterday, Judge Dalton of the Middle District of Florida held that in a non-bankruptcy context, allegations that collection of a mortgage debt is barred by the statute of limitations do not form a...more

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on 8/26/2016

Financial Industry Developments - CFTC Announces Measures to Enhance Protection of Customer Funds - On August 8, 2016, the U.S. Commodity Futures Trading Commission (CFTC) announced three separate enhancements...more

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Mortgages › Time-Barred Debt

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