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Foreclosure Sale Violates Automatic Stay when a Debtor is a Named Party in the Foreclosure

ABI

John's University School of Law American Bankruptcy Institute Law Review Staff Section 362 of title 11 of the United States Code (the “Bankruptcy Code”) provides that the filing of a bankruptcy petition results in an automatic stay generally enjoining all actions, including a foreclosure sale, against a debtor or its property. [1]

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Tenth Circuit Joins the Fray Regarding Whether Foreclosures Are Debt Collection Activity

Consumer Financial Services Law

The Tenth Circuit has weighed in on whether a non-judicial foreclosure is debt collection activity. Wells Fargo, 2018 U.S. Instead of responding, the law firm initiated a non-judicial foreclosure. On appeal, the Tenth Circuit addressed the issue of whether the FDCPA applies to non-judicial foreclosure proceedings.

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New CFPB Consent Decree May Highlight Loss Mitigation Issues for 2021

Collection Industry News

The clear priority is helping consumers avoid foreclosure, a risk we know will continue throughout 2021. The lengthy consent decree covers loss mitigation conduct from 2014 through 2018, years in the past. Some borrowers suffered improper foreclosure activity as a result. 12 C.F.R. §§ 1024.41(b)(2)(i)(B), b)(2)(i)(B).

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A Debtor’s Silence May Waive its Right to Enforce its Rights?under a Confirmed Plan of Reorganization

ABI

4] The court approved Parkland’s modification to its Plan of Reorganization stating that if Bridgeview successfully bid on the Artesian Property in a foreclosure sale, Bridgeview would finance Parkland’s purchase of it from the creditor. [5] 6] The foreclosure sale took place and Bridgeview’s nominee purchased the property. [7].

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Trends In FDCPA Litigation Filed Against HOA Attorneys

FDCPA Defense

Ekimoto & Morris, LLLC , 2018 WL 33129597 (D. Hawaii July 5, 2018) (unpaid assessments for condo where plaintiffs did not reside not a “debt”). Cheatham Farms Master HOA , 2018 WL 4297480 (C.D. 2018) (analyzing use of property at the time when assessments at issue were incurred) with Haddad v. 2710 (2018).

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

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. On April 1, the CFPB issued a warning to mortgage servicers to take necessary steps to prevent a wave of foreclosures this fall.

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Dealing with Deceased Borrowers Since the 2016 Mortgage Servicing Rule

Jimerson Firm

These provisions became effective on April 19, 2018. Continued reading: Certification of Original Promissory Note is Required to Bring a Mortgage Foreclosure Action. There is no affirmative obligation for lenders to determine whether a borrower is deceased. Author: Austin B. Calhoun, Esq. Murrin, JD Candidate.