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Fourth Circuit Holds Merely Sending Notice of Rescission Under TILA Does Not Effect Rescission — the Borrower Must Tender

Troutman Sanders

In a July 15 published decision, the Fourth Circuit reversed a West Virginia District Court’s ruling against a mortgage servicer in a purported class action, holding that merely sending a notice of rescission under the Truth in Lending Act (TILA), 15 U.S.C. Reverse Mortgage Solutions, Inc., 1635, et seq.,

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Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges: Part 6 – Considerations for the Appointment of a Receiver During Commercial Foreclosures

Jimerson Firm

The Uniform Commercial Real Estate Receivership Act. Effective July 1, 2020, the Florida Legislature enacted the Uniform Commercial Real Estate Receivership Act (the “Act”), which is found at Chapter 714 of the Florida Statutes. See Overview of Florida’s New Uniform Commercial Real Estate Receivership Act.

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Fourth Circuit Clarifies What Constitutes a QWR Under RESPA

Troutman Sanders

On February 22, the Fourth Circuit clarified in a published opinion what communications constitute a qualified written request (QWR) under the Real Estate Settlement Procedures Act (RESPA). Johnson had sufficiently alleged that they sent correspondence that qualified as a QWR to their mortgage loan servicer Caliber Home Loans, Inc.

Loans 81
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10 Pros and Cons of Mortgages

Credit Corp

Petersburg, FL, there isn’t a market that hasn’t been affected by the low mortgage rates and high millennial demand for housing. After all these years, why are mortgages and refinances becoming popular all of a sudden? Let’s first discuss the basics of a mortgage and what its advantages are. What Is a Mortgage Loan?

Loans 89
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Analysis: Money market woes cast shadow over $1.6 trln UK commercial property sector

Collection Industry News

So far, nowhere has the shock of this reversal hit harder than in Britain, where clashes between policymakers on how to revive growth and halt inflation have triggered a dramatic repricing across sterling money markets. in September, the largest monthly decline since July 2016, the month after Britain voted to leave the European Union.

Retail 40
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FICO Score 10, Most Predictive Credit Score in Canadian Market

Fico Collections

We’ve seen FICO® Scores in Canada steadily increase throughout the pandemic due, at least in part, to strong performance of equity markets, sustained economic growth, a booming real estate market , payment accommodation programs by lenders , and government stimulus which helped boost household savings to unprecedented levels.

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CDC, Biden Announce 60-Day Eviction Moratorium in High-Risk Areas

Collection Industry News

In so ruling, Barker described the Order as an impermissible intrusion into real estate, which he labeled an “inherently local” domain: “Residential buildings do not move across state lines, and eviction is fundamentally the vindication of the property owner’s possessory interest.”. United States , 471 U.S. 858, 862 (1985)).