Under the Foreclosure Abuse Prevention Act (“FAPA”), effective as of December 30, 2022, a lender in a New York foreclosure or quiet title action can be estopped from asserting that the subject mortgage loan was not validly…
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/ Civil Procedure, Finance & Banking, Real Estate - Residential
Servicers and owners of non-performing commercial loans may seek the appointment of a rent receiver to manage cash flow and keep utilities and property vendors current during the pendency of a foreclosure. Connecticut courts…
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/ Commercial Law & Contracts, Finance & Banking, Real Estate - Commercial
The New York Court of Appeals has finally agreed to consider whether retroactive application of the Foreclosure Abuse Prevention Act (“FAPA”) (or sections of it) violates the New York Constitution. Over the last two years, New…
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/ Constitutional Law, Finance & Banking, Real Estate - Residential
The growing prevalence of data breaches has led to an uptick in class action litigation based on consumers' personal information allegedly being accessed. A common theme emerging in these lawsuits is plaintiffs claiming that…
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/ Civil Procedure, Consumer Protection, Privacy
In January 2025, the New York City Department of Consumer and Worker Protection (DCWP) issued a Notice of Change of Effective Date (Notice), further delaying the effective date for the final rules relating to debt collectors…
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/ Consumer Protection, Finance & Banking
In November 2024, the New York City Department of Consumer and Worker Protection (DCWP) proposed additional amendments to its rules relating to debt collectors to clarify the definition of a "debt collector."…
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/ Consumer Protection, Finance & Banking
In New York civil actions, where a defendant fails to answer the complaint, the next step is usually a motion for a default judgment pursuant to CPLR 3215. However, in residential mortgage foreclosure actions, the plaintiff is…
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/ Civil Procedure, Consumer Protection, Finance & Banking, Real Estate - Residential
Loan servicers and their counsel are often sued by consumers during contested mortgage foreclosure proceedings. The United States Supreme Court’s opinions in Spokeo, Inc. v. Robins and TransUnion v. Ramirez continue to be an…
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/ Civil Procedure, Constitutional Law, Consumer Protection, Finance & Banking, Real Estate - Residential
Servicers with non-performing loans in Connecticut may find that municipal code violations exist on a property in foreclosure. Commonly referred to as "blight," Connecticut has enacted C.G.S. § 7-148ff, which makes a blight lien…
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/ Administrative Law, Finance & Banking, Real Estate - Residential, Zoning, Planning & Land Use
Last week, the North American Collection Agency Regulatory Association (NACARA) hosted its annual conference at the California Department of Financial Protection and Innovation’s Sacramento office. The event served as a platform…
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/ Consumer Protection, Finance & Banking, Science, Computers, & Technology
On August 23, the Consumer Financial Protection Bureau (CFPB) issued its Filing Instructions Guide ("Guide") for Nonbank Registration pursuant to its Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders…
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/ Consumer Protection, Finance & Banking
Texas property taxes and the general residential homestead exemptions have been all over the news this past year due to the passing of Proposition 4 in November 2023. This law increased the annual Texas homestead tax exemption…
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/ Finance & Banking, Real Estate - Residential, Taxation
On June 3, 2024, the Consumer Financial Protection Bureau (CFPB) issued the Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders Final Rule (“the Final Rule”)…
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/ Consumer Protection, Finance & Banking
The Buy Now Pay Later ("BNPL") legislation introduced by New York Governor Kathy Hochul officially died last week. However, BNPL legislation introduced last month by New York Assemblymember Pamela Hunter remains active and,…
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/ Consumer Protection, Finance & Banking
Last week, the Texas Supreme Court answered the Fifth Circuit’s certified question as to whether simultaneous rescission and reacceleration can reset the limitations period under Texas Law by holding that “a rescission that…
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/ Civil Procedure, Finance & Banking
