Jimerson Firm

MAY 26, 2021

Lenders need to be aware that borrowers and other lienholders can bring an action or proceeding to set aside, invalidate, or challenge the validity of a final judgment of foreclosure of a mortgage, even after the foreclosure sale. When Can the Foreclosure Sale Be Invalidated? Nationstar Mortg., Diaz , 227 So.

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Troutman Sanders

MARCH 1, 2023

In 2017, the Lender moved for summary judgment against Mr. Kessler on its foreclosure complaint. Mr. Kessler cross-moved to dismiss, arguing that the inclusion of the final two paragraphs in his 90-day notice, addressing bankruptcy status and military membership, violated section 1304’s “separate envelope” provision.

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Sawin & Shea

APRIL 26, 2023

A judgment lien against you can have a variety of distressing and negative consequences. Read on to learn everything you need to know about judgment liens in Indiana, including how they work and how to avoid them. What Is a Judgment Lien? Judgment Liens in the Hoosier State In Indiana, judgment liens last for 10 years.

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Jimerson Firm

JUNE 30, 2021

However, lenders are not always the successful party in the foreclosure and, to the disappointment of the lender, the lawsuit may be dismissed. Bank National Ass’n , 211 So. 2016) , lenders may be able to file a foreclosure lawsuit on the same property more than once. Bank National Ass’n , 211 So. Bank National Ass’n.

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Troutman Sanders

FEBRUARY 23, 2021

Engel, the Court of Appeals established a bright-line rule that when the acceleration of a mortgage debt occurs by filing a foreclosure complaint, a lender’s voluntary discontinuance of that action constitutes a revocation of acceleration as a matter of law, absent an express, contemporaneous statement to the contrary by the lender.

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Jimerson Firm

MAY 25, 2021

In every foreclosure action, the foreclosing lender will be required to publish some sort of legal advertisement or notice in a newspaper (e.g. the Notice of Foreclosure Sale). Since publishing a legal notice concerning a foreclosure action is inevitable, it is imperative for lenders to know how to do so properly. Conclusion.

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Jimerson Firm

JULY 20, 2020

In 2013, the Legislature enacted Section 702.015 , Florida Statutes, which sets forth new pleading requirements for residential foreclosure actions. At that time, the Legislature requested the Florida Supreme Court to amend the Florida Rules of Civil Procedure to provide expedited foreclosure proceedings in conformity with Section 702.015.

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Jimerson Firm

NOVEMBER 13, 2020

When a small business association (“SBA”) loan is converted to liquidation status, the lender must begin liquidating the collateral. if the collateral is likely to be acquired by SBA or the lender at the foreclosure sale, the expenses associated with the care, preservation and resale of the acquired collateral. Lien Foreclosure.

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Jimerson Firm

MARCH 12, 2021

In Florida, foreclosure actions must be brought in the county where the land is located. However, lenders often wonder where they should file the foreclosure action if the loan is secured by mortgaged land situated in different counties. Intercredit Bank, N.A. , Flagship Cmty Bank , 96 So. 2d 863, 864 (Fla.

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Jimerson Firm

MAY 21, 2021

Except in cases of an owner-occupied residence, lenders are entitled under Florida law to receive payments during the pendency of a foreclosure proceeding. Courts have held that reference to “some other method of enforcement” of a court’s payment order includes the entry of a foreclosure judgment. 2), Florida Statutes.

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Collections Law

APRIL 1, 2020

Collecting debts from debtors having assets in Massachusetts while you are in another state or a different country used to be difficult, even if you had a judgment against them. Massachusetts was among the few states that had not adopted the Uniform Enforcement of Foreign Judgment Act. Not Just Domestication — Enforcement, Too.

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Jimerson Firm

APRIL 2, 2021

Lenders must pay particular attention to subordinate liens and encumbrances prior to initiating any foreclosure action. Lenders can discover whether subordinate liens and encumbrances exist on a property by performing a title examination prior to initiating foreclosure. & Loan Ass’n, 214 So.2d Subordinate Liens.

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Better Credit Blog

DECEMBER 31, 2020

Have a hard inquiry on your credit report from Comenity Bank/VCTRSSEC? Comenity Bank/VCTRSSEC On My Credit Report. Comenity Bank is a premier producer of retail credit cards, partnering with 145 popular brands to offer credit cards to consumers. How Does a Comenity Bank/VCTRSSEC Hard Inquiry Affect Your Credit Report?

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Banks Retail Lender Repossession 89

Jimerson Firm

JULY 30, 2020

In reviewing a loan file after a default by a borrower, lenders should evaluate whether the loan includes an acceleration clause and whether the loan is secured by any personal guaranties. The loan documents also typically include one or more personal guaranties. Acceleration of the Loan. Bank of America, N.A.,

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Jimerson Firm

JANUARY 26, 2021

An “assignment of rents” allows the lender to collect the rent payments, if the borrower defaults on their loan payments. Although the lender and borrower may agree to the assignment of rents in the loan documents, the procedure for enforcing the assignment of rent is governed by Section 697.07, Florida Statutes. Section 697.07

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Better Credit Blog

DECEMBER 9, 2020

Is Belk/Synchrony Bank on your credit report as a hard inquiry? Belk/Synchrony Bank On My Credit Report. Belk/Synchrony Bank may show up on your report if you apply for a Belk retail credit card. Synchrony is the bank that issues these rewards cards. Get pre-approved for a loan offer or credit card. Foreclosures.

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Troutman Sanders

FEBRUARY 13, 2024

Gemini had alleged that Genesis pledged more than 61 million shares of Grayscale to secure loans, then defaulted on the loans. The case, Department of Agriculture Rural Development Rural Housing Service (USDA) Kirtz , involved a borrower who claimed the USDA inaccurately reported his loan as “past due,” damaging his credit score.

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Better Credit Blog

MARCH 1, 2021

Is Bank of America bringing down your credit score? If your credit report is displaying a collections account for Bank of America, it’s probably because you missed a payment somewhere down the line. How you should respond to a collections entry from Bank of American depends on several factors. Hunt and Henrique’s.

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Better Credit Blog

MARCH 1, 2021

Is Bank of America bringing down your credit score? If your credit report is displaying a collections account for Bank of America, it’s probably because you missed a payment somewhere down the line. How you should respond to a collections entry from Bank of American depends on several factors. Hunt and Henrique’s.

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Troutman Sanders

MAY 16, 2022

Federal Activities: On May 12 and May 10, the House Financial Services and Senate Banking Committees, respectively, held hearings with Financial Stability Oversight Council (FSOC) Chairwoman Secretary Yellen to discuss FSOC’s annual report to Congress. State Activities. Privacy and Cybersecurity Activities. For more information, click here.

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Financial services Foreclosure Lender Judgment 52

Troutman Sanders

OCTOBER 16, 2023

On October 11, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion concerning consumers’ requests for information regarding their accounts with large banks and credit unions. On October 11, the CFPB published its analysis regarding the nonsufficient fund (NSF) fee practices of a number of banks and credit unions.

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Jimerson Firm

FEBRUARY 3, 2021

If the mobile home has been retired and is part of the real property, it will be included in the foreclosure. On the other hand, if the mobile home is not retired and the lender has a perfected lien on the mobile home, the lender must use replevin in addition to the foreclosure. Is the Mobile Home Retired? 319.261 (7).

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Debt Free Colorado

APRIL 9, 2020

So far the offers have been vague, the most likely concessions will be for your lenders on your home and cars to allow you to move a monthly payment to the end of the loan and for credit cards to temporarily reduce your interest rate. There are more tools for dealing with your mortgage than any other type of loan. Student Loans.

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Student loans Student Loans Chapter 13 bankruptcy Chapter 7 bankruptcy 82

Troutman Sanders

AUGUST 9, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. You may access this interactive tool at [link]. Privacy and Cybersecurity Activities. For more information, click here.

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Financial services Student loans Student Loans Foreclosure 52

Consumer Finance Watch

MARCH 15, 2019

On March 13, 2019, in a case of first impression, New York’s Appellate Division, Second Department (“Second Department”) issued a decision holding the reinstatement provision of a mortgage does not prevent the acceleration of the loan prior to entry of a foreclosure judgment. In Bank of New York Mellon v.

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Foreclosure Judgment Banks Loans 40

Sawin & Shea

AUGUST 4, 2021

For the lender, it’s all about the bottom line, and if they think they can get more money from a foreclosure, they won’t agree to a short sale. Even if the lender does forgive the amount of the loan not paid upon closing, you may be taxed on this money by the IRS. A short sale is a significant negative on your credit score.

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Collection Industry News

MAY 18, 2021

In the letter, Nussle stated, “Lenders rely on complete and accurate credit reports when underwriting loans. In a separate letter to lawmakers , NAFCU, CUNA and other organizations from the banking industry, including the American Bankers Association and the Independent Community Bankers of America, wrote similar objections to the bill.

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Better Credit Blog

NOVEMBER 17, 2020

While it might look like a random jumble of letters, BRCLYSBANKDE is actually Barclays Bank of Delaware. It can show up on your report as a hard inquiry when you apply for a credit card or a loan from a popular bank. What Is Barclays Bank Delaware On My Credit Report? What Is Barclays Bank Delaware On My Credit Report?

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Personal loans Loans Banks Foreclosure 75

Troutman Sanders

AUGUST 1, 2023

Dream First Bank, National Association, has agreed to assume all the deposits of Heartland and almost all of Heartland’s failed bank assets. Dream First Bank, National Association, has agreed to assume all the deposits of Heartland and almost all of Heartland’s failed bank assets. For more information, click here.

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Better Credit Blog

AUGUST 4, 2020

If the name FNB Omaha has appeared on your credit report recently, it’s likely because you submitted an application for a credit card with the First National Bank of Omaha. How to get a hard inquiry from the bank removed from your credit report. Home loans. Auto loans. Personal loans. Student loan refinancing.

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Banks Lender Loans Student loans 52

Troutman Sanders

FEBRUARY 8, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. attorney’s office to stop judicial foreclosures and evictions on accounts previously referred to the DOJ.

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Financial services Foreclosure Student loans Student Loans 52

Burr Forman

DECEMBER 4, 2020

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 collection. In March of 2020, Burr published an article discussing the global pandemic’s impact on collection practices.

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Troutman Sanders

JANUARY 19, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. Department of Education to continue excusing borrowers from making payments on their student loans in light of the COVID-19 pandemic.

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Financial services Garnishment Foreclosure Government 52

Consumer Finance Watch

JULY 22, 2020

Wells Fargo Bank, N.A., Specifically, the issue concerned whether the predicates were met for admissions of records into evidence under the business records exception to the hearsay rule during the course of a bench trial in a residential foreclosure case. Household Finance Corporation, III, 236 So. 3d 1170 (Fla. 3d 656 (Fla.

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Better Credit Blog

JANUARY 21, 2021

General Electric Capital Retail Bank, abbreviated as GECRB, is the former name for Synchrony Bank, and it’s probably on your report because you applied for a Synchrony card at some point in the past. Synchrony Bank, formerly GECRB, is a sizable, highly regarded national bank with nearly a century of experience.

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Retail Banks Loans Repossession 52

Troutman Sanders

SEPTEMBER 7, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. You may access this interactive tool at [link]. For more information, click here.

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Financial services Student loans Student Loans Foreclosure 52

Troutman Sanders

APRIL 26, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. No floor amendments occurred, and the bill now will be referred to the Senate Banking Committee. On April 20, U.S.

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