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Mortgages › Consumer Bankruptcy › Financial Services Industry

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Troutman Pepper Locke

Arizona AG Pursues Fraudulent Real Estate Scheme Targeting Alleged Fraudsters, Title Companies, Attorneys, and Law Firms

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On March 7, Arizona Attorney General (AG) Kristin Mayes filed a novel lawsuit alleging consumer fraud and racketeering against numerous entities, individuals, and even law firms and title companies involved in the residential...more

Troutman Pepper Locke

Consumer Financial Services 2023 Year in Review and A Look Ahead

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We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With active federal and state legislatures, consumer financial services providers faced a challenging...more

Carlton Fields

Should I Stay or Should I Go? Bankruptcy Preemption May Bar FDCPA and FCCPA Claims Either Way

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After receiving a bankruptcy discharge, a borrower whose home is pending foreclosure has two options: stay in the home and, perhaps, make voluntary payments on the mortgage, or leave the home and start fresh. When a debt...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending October 4, 2019

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Real Property Update - Foreclosure / Bankruptcy / Surrender: borrower cannot challenge judgment of foreclosure entered upon judicial notice of his statement of intention to surrender the property and order of discharge...more

American Conference Institute (ACI)

[Event] Residential Mortgage Regulatory Enforcement & Litigation - October 29th-30th, Dallas, TX

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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

Smith Debnam Narron Drake Saintsing & Myers,...

Bankruptcy Disclaimer Did Not Violate FDCPA

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A district court in Michigan recently dismissed an FDCPA action, holding that a letter which included a bankruptcy disclaimer was for informational purposes only and did not violate the FDCPA. Tyler v. Fabrizio & Brook,...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending May 11, 2018

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REAL PROPERTY UPDATE - Summary Judgment: incorporation of an affirmative defense by referencing “previously filed pleadings” does not obviate movant’s obligation to comply with particularity requirements mandated by rule...more

Ballard Spahr LLP

CFPB finalizes amendments to timing requirements for bankruptcy periodic statements

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The CFPB recently issued its final rule amending the timing requirements for transitioning between unmodified periodic statements and modified statements for consumers in bankruptcy. ...more

Ballard Spahr LLP

U.S. District Court for the Southern District of Florida Narrows the Definition of Borrower Under RESPA

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In 2014, the Consumer Financial Protection Bureau (CFPB) promulgated a number of mortgage servicing rules, including rules governing loss mitigation procedures. ...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Weeks Ending October 6 & 13, 2017

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REAL PROPERTY UPDATE FINANCIAL SERVICES UPDATE - Ad Valorem Taxes: land lease holders are considered equitable owners of land for tax purposes if land lease renews automatically and is perpetual; owners of condominium...more

Ballard Spahr LLP

Sixth Circuit: Firm's Post-Foreclosure Conduct Does Not Violate FDCPA

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Recently, the U.S. Court of Appeals for the Sixth Circuit affirmed the dismissal of a lawsuit brought against a foreclosure firm—Reimer, Arnovitz, Chernek & Jeffrey (the Reimer firm)—under the Fair Debt Collection Practices...more

Carlton Fields

Mortgage Servicer Defeats Class Certification Over Collection Practices Allegedly Targeting Discharged Mortgage Debts

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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

Ballard Spahr LLP

CFPB Mortgage Servicing Rule Amendments Published in Federal Register

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The CFPB Mortgage Servicing Rule Amendments were published in the Federal Register yesterday, starting the clock for the effective date of the amended provisions.  Most of the provisions are effective on October 19, 2017. ...more

Carlton Fields

Surrendering Your Property in Bankruptcy Means You Must Actually Surrender It

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The title of this article seems self-evident. Lenders, servicers, and others active in the foreclosure arena these past few years know that it has been anything but. Borrowers surrender property in bankruptcy but,...more

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