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Can Banks be Liable for Processing or Underwriting a Loan that a Borrower Cannot Afford?

Jimerson Firm

15, 2016) (holding that banks have no duty to “process, convert, administer, or service” the borrower’s loan); Grave v. 14-60975-CV, 2014 WL 11776961, at *9 (S.D. 8:10-CV-338-T-33TGW, 2011 WL 6719215, at *11 (M.D. 8:10–cv338, 2011 WL 6719215, at *10–11 (M.D. Brake , 2011 WL 6719215, at *10-11. Wells Fargo Fin.

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FICO Women Leaders: Sharing Our Insights and Success

Fico Collections

FICO has customers worldwide, and I am intent on increasing opportunities for women in technology and financial services. Stephanie joined FICO in 2014, recently serving as executive vice president of sales and marketing. But it’s not enough to do this work at FICO alone. Join us there!

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Timing is Everything: 11th Circuit Finds Loss Mitigation Application Untimely

Consumer Financial Services Law

Ocwen Loan Servicing, the court considered whether the mortgage servicer had an obligation to evaluate a loss mitigation application when, at the time the completed application was submitted, a foreclosure sale was scheduled to occur in two days. Ocwen Loan Servicing, 2016 U.S. LEXIS 18264 (11 th Cir.

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Can a Lender Pursue Debt Collection After a Charge Off and 1099-C Issuance?

Jimerson Firm

a United States District Court in the 11 th Circuit analyzed the issue of whether a creditor’s issuance of a 1099-C extinguishes or cancels a debt. 1:11–cv–72, 2012 WL 1098619, at *7 (W.D.N.C. A majority of courts have held that the issuance of a 1099-C does not automatically discharge a debt or prohibit future collection activities.

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District Court Reverses Bankruptcy Court Order Imposing Sanctions on Mortgage Servicer

Consumer Financial Services Law

The bankruptcy court order held mortgage servicer Newrez, LLC (“Newrez”) and the holder of the mortgage note at issue in civil contempt for failing to abide by the terms of the individual debtors’ confirmed chapter 11 plan (the “Plan”). Newrez, LLC v. Beckhart , No. 7:20-cv-00192-BO, 2021 U.S. LEXIS 125293, at *1 (E.D.N.C.

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Canceling and Rescheduling a Mortgage Foreclosure Sale Now Requires a Motion

Jimerson Firm

In 2014, the Florida Supreme Court renumbered this form to the current Form 1.996(c) (2019). In 2010, the Florida Supreme Court approved an amendment to the Florida Rules of Civil Procedure regarding mortgage foreclosures and enacted new forms, such as Form 1.996(b), Motion to Cancel and Reschedule Foreclosure Sale. Local Rules.

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CFPB Enters into Consent Orders with Citibank Subsidiaries Over Mortgage Servicing Practices

Consumer Financial Services Law

The Consent Order asserts that CitiMortgage’s practice violated Reg X as well as the UDAAP provisions of the Consumer Financial Protection Act. · The Wrong Way. In some cases, the notice requested documents already received from the consumer. The Right Way.

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