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Successors Borrowers

Bradley Arant Boult Cummings LLP

Do Servicers Have to Monitor Whether a Successor in Interest is in Bankruptcy? CFPB’s FAQ Suggests the Answer is “Yes”

As the effective date for the CFPB’s successor in interest and bankruptcy billing statement requirements quickly approaches, one question we’ve heard multiple times is whether a mortgage servicer is required to know when a...more

Goodwin

California Supreme Court Rules in Yvanova That Borrowers May Have Standing To Allege Certain Defects In Assignments

Goodwin on

Do borrowers have standing to challenge a non-judicial foreclosure on the ground of alleged defects in an assignment from the original lender to a successor? This is a question that has divided courts, both in California and...more

Nossaman LLP

Successor Banks of FDIC assets Not so Jolly after Jolley - A New Duty to Investigate?

Nossaman LLP on

A recent California case appears to contradict the general rule holding that a successor bank that has acquired a commercial loan through an FDIC receivership may owe a duty to a commercial borrower to reasonably investigate...more

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