News & Analysis as of

Real Estate Settlement Procedures Act Foreclosure

Real Property, Financial Services, & Title Insurance Update: Weeks Ending November 17 & 24, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Receiver/Barton Doctrine: individual could not bring negligence action against discharged receiver of commercial property until individual first obtained leave to do so from the court that appointed...more

Fall 2017 Consumer Financial Protection Bureau Update

by Burr & Forman on

The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) is a U.S. government agency created by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The CFPB is the first federal agency tasked solely with the...more

Real Property, Financial Services, & Title Insurance Update: Weeks Ending September 22 & 29, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - - Constructive Notice: a memorandum of agreement that is recorded in the official records of the county in which the property is located and refers to an unrecorded agreement entered into by the...more

Real Property & Title Insurance Update: Week Ending August 18 & 25, 2017

by Carlton Fields on

Foreclosure: general reservation of jurisdiction in a foreclosure judgment is very limited, and certainly does not give trial court jurisdiction to eliminate a lien more than three years after Final Judgment of Foreclosure...more

Real Property & Title Insurance Update: Week Ending July 14 & 21, 2017

by Carlton Fields on

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

CFPB Imposes Hefty Fine on Mortgage Servicer for Alleged Violations of Servicing Rules

by Goodwin on

On June 7, 2017, the Consumer Financial Protection Bureau (CFPB) issued a Consent Order against mortgage servicer Fay Servicing, LLC (Fay), requiring Fay Servicing to pay $1.15 million to borrowers and to cease activities...more

Consumer Financial Services Newsletter - November 2016

by Hinshaw & Culbertson LLP on

D.C. Circuit Delivers First Blow to CFPB, Trump Win Delivers Second - The future of the Consumer Financial Protection Bureau (CFPB) is up for grabs following a landmark Court of Appeals Decision, PHH Corporation v....more

Eleventh Circuit Holds That Reg. X Does Not Require Mortgage Servicers to Evaluate Untimely Loan Modification Plans Even If the...

by Balch & Bingham LLP on

In a recent decision, the Eleventh Circuit (Lage v. Ocwen Loan Servicing, LLC, No. 15-15558 (11th Cir. Oct. 7, 2016)) held that a loan servicer is not required to evaluate a completed loan modification application if that...more

Real Property, Financial Services & Title Insurance Update: Week Ending December 18, 2015

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Standing: because plaintiff was not original lender, plaintiff failed to prove standing to foreclose on mortgage loan where plaintiff failed to submit note with blank or special...more

Dodd-Frank News: November 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

by Burr & Forman on

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, Financial Services & Title Insurance Update: Week Ending October 16, 2015

by Carlton Fields on

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

CFPB Reports Continued Mortgage Servicing and Other Violations of Consumer Financial Law

by Carlton Fields on

In its Supervisory Highlights released earlier this summer, the CFPB reported its examination observations in consumer reporting, debt collection, mortgage origination and servicing, fair lending, and student loan servicing....more

CFPB Reports Continued Mortgage Servicing and Other Violations of Consumer Financial Law

by Carlton Fields on

In its Supervisory Highlights recently released, which cover the period from January to April 2015, the Consumer Financial Protection Bureau (“The Bureau”) reported its examination observations in consumer reporting, debt...more

Dodd-Frank News: June 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

by Burr & Forman on

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

Do the CFPB Mortgage Servicing Rules Provide For Rescission?

The Consumer Financial Protection Bureau’s (CFPB) mortgage servicing rules have now been in place for nearly 18 months. These rules have set forth extensive loss mitigation procedures that nearly all servicers must follow. In...more

Real Property, Financial Services & Title Insurance Update: Week Ending March 6 & 13, 2015

by Carlton Fields on

Real Property Update: Deed Restriction: genuine issue of material facts remains concerning whether original parties to deed with restrictions contemplated future unilateral amendments to restrictions that would bind...more

Real Property, Financial Services & Title Insurance Case Law Update: November 19, 2013

by Carlton Fields on

I. FLORIDA STATE CASES - ILAN NIEUCHOWICZ - Foreclosure/Rehearing: trial court’s order denying motion to vacate foreclosure sale considered final order separate from final judgment of foreclosure and was subject to...more

Litigation Exposure Under The 2013 Dodd-Frank Mortgage Servicing Regulations

by Burr & Forman on

In This Issue: - Introduction - Potential Litigation Exposure Under the New Mortgage Servicing Regulations Governing Responses to Borrower Inquiries ..Which of the New Servicing Regulations Governing Responses...more

A New World for Mortgage Banking – What You Need to Know About the CFPB’s Final Mortgage Servicing Rules

by Pepper Hamilton LLP on

The Consumer Financial Protection Bureau (CFPB) issued its final rules regarding mortgage servicing last week which will undoubtedly change mortgage servicing operations in the United States - and according to some...more

A New World for Mortgage Banking – What You Need to Know About the CFPB’s Final Mortgage Servicing Rules

by Pepper Hamilton LLP on

The Consumer Financial Protection Bureau (CFPB) issued its final rules regarding mortgage servicing last week which will undoubtedly change mortgage servicing operations in the United States - and according to some...more

U.S. Consumer Financial Protection Bureau Issues Rules on Mortgage Servicing; Creates New Rights for Borrowers, Raising Issues...

by Dechert LLP on

On January 17, 2013, the Consumer Financial Protection Bureau (“Bureau”) took another major step in the restructuring of the U.S. residential mortgage sector by issuing final rules (collectively, the “Rule”) regarding...more

Consumer Financial Protection Bureau Issues New Mortgage Servicing Rules

The CFPB issued two mortgage servicing rules aimed at homeowners facing foreclosure and providing borrowers with tools and information for dealing with mortgage servicers....more

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