We discuss various issues faced by lenders and servicers when attempting to foreclose on “zombie” mortgages, meaning second mortgages on which the borrower has not made a payment for a considerable length of time and the...more
The Sixth Circuit Court of Appeals recently held that a limited liability company (“LLC”) constitutes a “person” within the meaning of the Fair Debt Collection Practices Act (FDCPA or the “Act”), in Anarion Investments LLC v....more
8/27/2015
/ Appeals ,
Banking Sector ,
Banks ,
Consumer Lenders ,
Debt Collection ,
Debt Collectors ,
FDCPA ,
Limited Liability Company (LLC) ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
Wrongful Foreclosures
Consent judgments in a lawsuit brought by the Florida and Connecticut Attorneys General have been entered against five individuals and one law firm for their part in an alleged “mass-joinder” mortgage rescue scam....more
The Eighth Circuit recently held that a borrower must file suit before foreclosure to exercise rescission rights under TILA. The court now joins the Ninth and Tenth Circuits in holding that notice alone is not sufficient. In...more