Unlocking the Secrets of Reverse Mortgages — The Consumer Finance Podcast
Consumer Finance Monitor Podcast Episode: CFPB’s Proposed Mortgage Servicing Rule Amendments: Understanding the Impact on Loss Mitigation, Foreclosure, and Language Access
An Inside Look as a Juror - FCRA Focus Podcast
On April 4, the U.S. Court of Appeals for the Fourth Circuit issued an opinion reversing in part a lower court’s dismissal. The district court dismissed a plaintiff’s (an individual) complaint against a mortgage loan servicer...more
On January 6, a class action lawsuit was filed in the U.S. District Court for the Middle District of North Carolina against a mortgage servicing company. The plaintiff alleged, on behalf of herself and the entire class, the...more
Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more
Recently, the United States Court of Appeals for the 4th Circuit held that a mortgage servicer’s failure to provide a required disclosure informing borrowers of their three-day right to rescind the loan under the Truth in...more
In This Issue. The House of Representatives voted to pass a Congressional Review Act resolution repealing the Office of the Comptroller of the Currency’s (OCC) “true lender” rule; the Consumer Financial Protection Bureau...more
The U.S. Court of Appeals for the Eleventh Circuit recently upheld a lower court’s decision in Hunstein v. Preferred Collection and Management Services, Inc., 994 F.3d 1341 (11th. Cir. 2021). They affirmed that a debt...more
In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed a new rule that would establish a revised framework for the fair value determination for purposes of the Investment Company Act of 1940 and have...more
Attend the only forum designed to help you navigate the Residential Mortgage Industry’s evolving landscape. Now in its 26th installment, ACI’s Residential Mortgage forum has become a premier gathering of the key industry...more
Travis is still kicking around at Uber, and he made that quite clear late last week by using his “outsize voting rights” to name two directors to the 8-member board ahead of a vote to reduce Kalanick’s voting power at the...more
In response to three questions asked of it by the United States Court of Appeals for the Ninth Circuit, the California Supreme Court opined as follows...more
The Times gives us an intriguing long read on Uber’s Travis Kalanick, the controversial CEO whose vision has helped propel the ride-hailing company even as his no-limits approach has led the company into months of crisis....more
The Middle District of Florida recently denied a plaintiff’s motion for class certification concerning claims that a collection agency illegally and intentionally sent collection correspondence to mortgagees whose debts...more
On September 13, Maine’s Supreme Judicial Court (the “Law Court”), in a 4-2 split decision, issued an opinion that may expose mortgagees and mortgage servicers to significant liability under the Maine statute that governs the...more
The Second Circuit recently held that under Federal Rule of Civil Procedure 23, a district court judge can decertify a class after a jury verdict in favor of the class but before entering judgment, upholding a Southern...more
A class certification ruling is always subject to challenge if the class representative does not prove the necessary elements of class certification. On July 15, the U.S. Court of Appeals for the Second Circuit held...more
The Ninth Circuit affirmed an order denying class certification in a case involving allegations that a mortgage servicer wronged borrowers through its implementation of the federal Home Affordable Modification Program (HAMP)....more
From origination through final payoff, plaintiffs’ counsel look for claims in just about every aspect of the relationship between borrowers and their mortgage lenders. Recently, scrutiny has turned to property inspections...more
We have previously reported on a case styled Munoz v. PHH Corp., one of similar suits alleging putative class actions under the Real Estate Settlement Procedures Act arising from purported “sham” reinsurance transfers...more
In This Issue: IN THE SPOTLIGHT - - Your Data Breach Collided With My Personal Injury Coverage LIFE INSURANCE - - Phantom Injury Dooms “Shadow Insurance” Case - Latest NAIC Cybersecurity News ...more
A federal appeals court has ruled that a nonbank mortgage servicer’s notice of servicing rights transfer sent pursuant to RESPA constitutes debt collection and thus triggers mandatory FDCPA disclosures. The Second Circuit...more
On August 4, 2015 the Consumer Financial Protection Bureau (CFPB) issued a compliance bulletin on the private mortgage insurance (PMI) cancellation and termination provisions contained in the Homeowners Protection Act (HPA)....more
The filed rate doctrine can often provide a strong defense to an insurer in a class action claiming that insurance premiums were too high for some reason. A recent Second Circuit decision applied the doctrine broadly. This...more
The United States District Court for the Northern District of Illinois granted summary judgment denying a putative class action suit against a mortgage servicer for alleged violations of the Truth in Lending Act concerning...more
A federal court in Pennsylvania denied defendants’ motion to dismiss in a putative class action based on purported mortgage services fraud. Defendants Fifth Third Bank, Fifth Third Mortgage Company, Fifth Third Mortgage...more
Earlier this month, the Ninth Circuit reversed a lower court’s dismissal of two consolidated class action complaints, holding that mortgage servicers participating in the Home Affordable Modification Program (HAMP) are...more