News & Analysis as of

Foreclosure › Debt Collection › Financial Services Industry

Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of... more +
Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -
Troutman Pepper Locke

Sixth Circuit Affirms Dismissal of FDCPA Claims for Lack of Standing, But for Lack of a Causal Connection

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In a recent decision, the U.S. Court of Appeals for the Sixth Circuit affirmed the dismissal of federal claims brought by a mortgagee against Trinity Financial Services, LLC (Trinity) under the Fair Debt Collection Practices...more

Falcon Rappaport & Berkman LLP

Equitable Fairness: Court Denies Lender’s Routine Motion for Summary Judgment In Commercial Foreclosure Action Finding Issues of...

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In a recent decision, the Supreme Court in Queens County denied lender’s motion for summary judgment and appointment of a referee to compute in a foreclosure action, finding triable issues of fact, underscoring the importance...more

McGlinchey Stafford

Litigation Byte (December Edition)

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Delivered in digestible, insightful bites, McGlinchey’s Litigation Byte is a monthly roundup of financial services decisions and cases nationwide that impact your business....more

McGlinchey Stafford

Court Rules Eviction Proceedings are Not Debt Collection under FDCPA

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The United States Court for the Western District of Virginia recently granted a foreclosure firm’s motion to dismiss on the grounds that the firm’s representation of a lender did not violate the Fair Debt Collection Practices...more

Saul Ewing LLP

New York Clears Up What Can Be Included in a Pre-Foreclosure Notice

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On February 14th the NY Court of Appeals held that including additional information, such as bankruptcy disclosures, debt collection disclosures and service members' disclosures, in a 90-day preforeclosure notice is...more

Orrick, Herrington & Sutcliffe LLP

Massachusetts reaches settlement in unfair debt collection and mortgage servicing matter

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On December 22, the Massachusetts attorney general announced a settlement with a South Carolina mortgage servicer to resolve claims that it allegedly failed to assist homeowners avoid foreclosure and engaged in unfair debt...more

Kaufman & Canoles

Consumer Finance Client Alert – Reverse Mortgage Foreclosure Attack Survived Dismissal in the Rocket Docket, with Novel Claim of...

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United States District Court, E.D. Virginia (Richmond Division, The Honorable David J. Novak) MARY HILL, Plaintiff, v. NATIONSTAR MORTGAGE LLC, d/b/a CHAMPION MORTGAGE, LLC et al., Defendants. Civil No. 3:22cv108...more

Burr & Forman

Second Circuit Affirms Dismissal of FDCPA and FCRA Claims Finding Collection Efforts Proper Despite Plaintiff’s Dismissal from...

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In Macris v. Specialized Loan Servicing, LLC, 2022 WL 16727611 (2d Cir. Nov. 7, 2022), the Second Circuit upheld summary judgment for a mortgage servicer, holding that the plaintiff could not pursue claims under the Fair...more

McGlinchey Stafford

Did I waive the terms of my contract? - McGlinchey Commercial Law Bulletin - July 8, 2022

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Fair Debt Collection Practices Act- In this appeal, the Court of Appeals for the Sixth Circuit reversed and remanded the District Court for the Northern District of Ohio’s decision, finding the debt collector violated the...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending April 8, 2022

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Real Property Update - Foreclosure / Bankruptcy: Trial court erred in entering final order precluding defendant from raising any defenses in foreclosure action based upon surrender in bankruptcy because (i) debtor only...more

Farrell Fritz, P.C.

An Interesting Tale of New York’s One-Action Rule

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As mortgage loan transactions continue to become increasingly complex, lenders often worry about the remedies they have if borrowers fail to live up to their obligations. In the event of a default, lenders have the choice...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending February 18, 2022

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Foreclosure / Statute of Limitations: Subsequent owner of property, which purchased property at homeowners association's junior lienholder foreclosure, took the property subject to successor mortgagee's ongoing rights, which...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending October 22, 2021

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Real Property Update - Foreclosure / Dismissal: Trial court erred in relying on judicially noticed records from a prior foreclosure action in dismissing foreclosure complaint – Bayview Loan Servicing, LLC v. Brown, No....more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, Volume 2, Issue 18

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Why the Overturned Eviction Moratorium May be Too Little, Too Late for Both Renters, Landlords - "However, the ruling doesn’t mean renters in states without protections will be immediately removed from their homes — an...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending May 14, 2021

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Real Property Update - Foreclosure / Surplus: The issuance of certificate of disbursements triggers the running of the 60-day period for filing claims to surplus monies following a foreclosure sale, and motion for surplus...more

Burr & Forman

COVID-19 Collections Impact Bulletin: State Responses (December 2020 Update)

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Financial institutions, servicers, lenders, and debt collectors must stay up-to-date on evolving federal and state laws stemming from the COVID-19 pandemic, as such laws impact all facets of consumer loan servicing and debt...more

Hinshaw & Culbertson - Consumer Financial...

Consumer Law Hinsights – July 2020

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Welcome to Consumer Law Hinsights?a monthly compilation of nationwide consumer protection cases of interest to financial services and accounts receivable management companies. This edition highlights our interactive COVID-19...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending July 10, 2020

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Real Property Update - Foreclosure / Standing: Servicer had standing to foreclose where asset management agreement authorized predecessor-in-interest to delegate service of loan and ability to bring foreclosure action and...more

Mayer Brown

Debt Collection During and After the Pandemic: Do Certain US Legislators and Agencies Seek a Debt Collection Ice Age?

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As the COVID-19 pandemic rages on, state and federal lawmakers have taken aggressive measures to protect the health and economic security of their citizens, including legislative and regulatory measures limiting or proposing...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending April 10, 2020

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Real Property Update - Foreclosure / Dismissal: Involuntary dismissal of foreclosure action for alleging default on same date alleged in a prior dismissed foreclosure action was improper where allegation included reference...more

Hinshaw & Culbertson - Consumer Crossroads

Interactive COVID-19 Regulatory Map for Consumer Financial Institutions

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To assist consumer financial services lenders, servicers and investors, Hinshaw has developed an interactive tracker of state regulations related to the COVID-19 pandemic...more

Goodwin

COVID-19 and Consumer Financial Services: Navigating New U.S. and State Orders, Rules, Laws, Guidance, and Pleas

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Over the past several weeks, the coronavirus (COVID-19) pandemic has sparked a litany of new orders, rules, laws, guidance, and plain asks from federal and state leaders, agencies, and courts. The President and federal and...more

Goodwin

COVID-19 and Consumer Financial Services: Navigating New U.S. and State Orders, Rules, Laws, Guidance, and Pleas

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It is imperative that financial institutions stay abreast of COVID-19-related issues as they develop and consider the risks of failing to implement the various policies espoused in the federal and state orders and guidance,...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending February 21, 2020

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Real Property Update - HOA / Class Action: It was appropriate for trial court to narrow class to current homeowners as to counts seeking declaratory and injunctive relief, as former homeowners have no interest in relief...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending February 7, 2020

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Real Property Update - Fraudulent Transfer: Real property that was worth less than mortgage encumbering it was not an asset per the plain language of section 726.102(2) and, therefore, could not support fraudulent transfer...more

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