Foreclosure - Creditor Collections Today

Foreclosure on Debtor’s Residence does not Violate Automatic Stay when the Debtor has no Property Interest in his Marital Property and no Dispossessory Proceeding is Alleged

ABI

JANUARY 19, 2024

Nationstar Mortgage LLC , the bankruptcy court held that a debtor’s marital interest in his family residence would become a “property interest” warranting an invocation of the automatic stay against a foreclosure proceeding if he obtained a divorce. [1] 8] The bankruptcy court relied upon the decision from the U.S. 17] [1] Jennings v.

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

ABI

JANUARY 22, 2023

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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Foreclosure Debtor Bankruptcy Judgment

Court Terminates Automatic Stay to Allow Foreclosure of Single Asset Real Estate

ABI

JANUARY 22, 2023

[8] In February 2021, M360 initiated a state foreclosure action following East/Alexander’s default on the mortgage. [9] 9] Following the appointment of a receiver by the state court, East/Alexander filed a voluntary petition for relief under Chapter 11 resulting in a stay of M360’s foreclosure action. [10] May 12, 2022). [2]

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Foreclosure Bankruptcy Debtor Creditors

Navigating Mortgage Servicing Through the Slow-Moving Homeowner Assistance Fund

Troutman Sanders

FEBRUARY 1, 2023

The Department of Treasury (DOT) has been slow to dole out the nearly $10 billion available under the Homeowner Assistance Fund (HAF), a pandemic aid program enacted by Congress to provide relief to homeowners. As of October 2022, only about $2 billion in relief funds have been distributed to approximately 150,000 households.

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Foreclosure Loans Banks

Consumers Prioritize Mortgage Payments Over Auto

Fico Collections

FEBRUARY 10, 2023

NicholetteLarsen@fico.com Tue, 03/23/2021 - 22:16 by Tommy Lee Senior Director, Analytics and Scores expand_less Back To Top Fri, 02/10/2023 - 16:00 At the start of the pandemic, unemployment spiked and the CARES Act was passed to support those in financial need to pay their bills, including mortgage and auto loans. Mr. Lee holds a B.S.

Loans

Loans Lender Foreclosure

The Great Unwinding: Land Use and the End of the COVID-19 Health Emergency

Price Meese

JUNE 30, 2021

Broadly speaking, those EOs authorize the continuing moratorium on foreclosures and deal with other policy areas such as healthcare facility data reporting, outdoor dining regulations. 10:4-1 et seq., The EOs that were saved from expiration will be in force until Jan. These suspensions and waivers will expire on Jan. 5:39-1 et seq.

Government

Government Foreclosure Healthcare

Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

OCTOBER 16, 2023

In April, Coinbase petitioned the Third Circuit to compel the SEC to answer its July 2022 petition, which requested for the agency to promulgate crypto-specific regulations. On October 10, D.C. For more information, click here. For more information, click here. On October 11, B25-0449 was signed by Mayor Muriel Bowser (D).

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How To Remove Negative Items From Your Credit Report

Better Credit Blog

APRIL 1, 2022

Whatever you’re dealing with, late payments, collections, charge-offs, or foreclosures, the following techniques can clean up your credit quickly. Developing these good habits will help a lot, but let’s be clear: a major negative entry like bankruptcy, foreclosure, or repossession on your credit file will cause bad credit.

Bankruptcy

Bankruptcy Collection Agencies Collections Agency Lender

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

MARCH 22, 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. On March 10, the Oklahoma Senate passed a health care debt collection bill. You may access this interactive tool at [link].

Financial services

Financial services Garnishment Student loans Student Loans

Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

FEBRUARY 21, 2024

The court found that the defendants falsely promised to reduce homeowners’ mortgage payments and prevent foreclosures, defrauding distressed homeowners out of millions of dollars. In 2022, a district court entered an order that imposed civil penalties on the companies and required that redress be paid to harmed consumers.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

MARCH 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. On March 1, New York Attorney General Letitia James released a list of New Yorkers’ top 10 consumer complaints during 2020.

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Debt Collection: Have We Learned the Lessons of the Last Crises?

Fico Collections

NOVEMBER 3, 2022

Thu, 11/03/2022 - 11:30. Political or regulatory moratoriums that de-risk the expected significant harm such as breathing space or communication pauses, payment holidays, or moratoriums preventing mortgage foreclosures. A promise payment must be within the next 10 days. FICO Admin. Tue, 07/02/2019 - 02:45. by Bruce Curry.

Collections

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

MAY 9, 2023

For the first year after the effective date of the proposal, these firms would be subject to an excise tax of 10% of the costs of electricity they use in digital asset mining. billion in revenue over 10 years. The excise tax would then increase to 20% in the second year, and it would reach its maximum of 30% in year three.

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Financial services Student loans Student Loans Loans

Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

AUGUST 14, 2023

On August 7, Chairman of the House Financial Services Committee Patrick McHenry (NC-10) issued a statement following PayPal’s announcement of its PayPal USD stablecoin. In 2022, Figure agreed to rework its banking plan by agreeing to seek federal deposit insurance. For more information, click here.

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CFPB Publishes Spring 2021 Rulemaking Agenda

Collection Industry News

JULY 6, 2021

The agenda lists the regulatory actions that the Bureau reasonably anticipates that it will consider during the period from May 1, 2021, to April 30, 2022. The Bureau expects to issue a final rule in January 2022. The next agenda will be published in Fall 2021, and the CFPB will update the Spring 2021 agenda through Fall 2022.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

AUGUST 24, 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.

Financial services

Financial services Student loans Student Loans Foreclosure

Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

AUGUST 1, 2023

The resolution also requires that notices continue to be sent to homeowners informing them of the DC HAF program prior to a foreclosure action. On July 26, the majority of U.S. For more information, click here. On July 25, a large credit reporting agency revealed to investors in regulatory filings that it’s facing a probe by the CFPB.

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New York Amends Contact Requirements For Certain Delinquent Borrowers

Collection Industry News

MARCH 14, 2022

A&B ABstract : On February 24, Governor Kathy Hochul signed into law Assembly Bill 8771 (2022 N.Y. The obligation arose in response to a written or electronic request from the borrower, and required the lender (or a servicer acting on the lender’s behalf) to provide the SPOC within 10 business days of such request.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

SEPTEMBER 20, 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. On January 31, 2022, the pause on interest and payments for federally held student loans will end. For more information, click here.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

MAY 3, 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. On April 27, the CFPB delayed the mandatory compliance date of the General Qualified Mortgage (QM) final rule from July 1, 2021 to October 1, 2022.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

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.

Financial services

Financial services Foreclosure Lender Judgment

Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

MAY 2, 2023

Previously introduced in June 2022, the bill fortified its provisions regarding national security and cybercrime — a concern top regulators continue to express about digital assets. The bank has been actively supporting projects in historically marginalized communities and as of December 2022, and it had made commitments of more than $216.5

Financial services

Financial services Trade Consumer Credit Government

Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

NOVEMBER 7, 2023

The guidance, which follows a consultation period that ended on August 10, clarifies the application of the financial promotion oversight regime to “qualifying cryptoassets.” The Treasury had placed Tornado Cash on the sanctions list in August 2022 after U.S. For more information, click here.

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Creditor Collections Today

Foreclosure on Debtor’s Residence does not Violate Automatic Stay when the Debtor has no Property Interest in his Marital Property and no Dispossessory Proceeding is Alleged

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

Trending Sources

Court Terminates Automatic Stay to Allow Foreclosure of Single Asset Real Estate

Navigating Mortgage Servicing Through the Slow-Moving Homeowner Assistance Fund

Consumers Prioritize Mortgage Payments Over Auto

The Great Unwinding: Land Use and the End of the COVID-19 Health Emergency

Troutman Pepper Weekly Consumer Financial Services Newsletter

How To Remove Negative Items From Your Credit Report

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Debt Collection: Have We Learned the Lessons of the Last Crises?

Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Pepper Weekly Consumer Financial Services Newsletter

CFPB Publishes Spring 2021 Rulemaking Agenda

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Pepper Weekly Consumer Financial Services Newsletter

New York Amends Contact Requirements For Certain Delinquent Borrowers

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Pepper Weekly Consumer Financial Services Newsletter

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