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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]
Collection Industry News
DECEMBER 28, 2020
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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ABI
JANUARY 20, 2020
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].
Troutman Sanders
OCTOBER 16, 2023
On October 11, an automotive management company settled claims by the Department of Justice (DOJ) alleging that the company had violated the False Claims Act by knowingly providing false information in support of its Paycheck Protection Program (PPP) loan forgiveness application. For more information, click here.
Jimerson Firm
MAY 12, 2021
These provisions became effective on April 19, 2018. However, upon notification of the death of a borrower, lenders must “promptly identify and facilitate communication with the successor in interest of the deceased borrower with respect to the property secured by the deceased borrower’s mortgage loan.” Periodic statements.
Troutman Sanders
APRIL 5, 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 1, the CFPB issued a warning to mortgage servicers to take necessary steps to prevent a wave of foreclosures this fall.
FDCPA Defense
FEBRUARY 3, 2019
1992) (emphasis added, citation and quotation marks omitted) (personal loan from friend used to start software business not a “debt” under the Act: “Neither the lender's motives nor the fashion in which the loan is memorialized are dispositive of this inquiry.”). Ekimoto & Morris, LLLC , 2018 WL 33129597 (D. 2710 (2018).
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