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Case law

New York Foreclosure Abuse Prevention Act Curtails Servicers’ Options

February 14, 2023 By Nanci Weissgold, Anoush Garakani, Morey Barnes Yost and Gloria Han

A&B ABstract: Effective on approval by Governor Kathy Hochul on December 30, 2022, New York Assembly Bill 7737b – the Foreclosure Abuse Prevention Act (the “Act”) became law.  The Act is signifcant because it reverses judicial precedent that permitted a lender, after default, to undo the acceleration of a mortgage and stop the running of […]

Filed Under: Mortgage Servicing, State Law Tagged With: #mortgageservicing, #New York, #NYDFS, #Part419, Case law, Foreclosure, Mortgage Servicing

District Court Dismisses CFPB’s Redlining Case Against Townstone Financial

February 6, 2023 By Melissa Malpass

A&B ABstract: On Friday, in the CFPB v. Townstone Financial fair lending case, the U.S. District Court for the Northern District of Illinois dismissed with prejudice the complaint filed by the Consumer Financial Protection Bureau (CFPB), holding that the plain language of the Equal Credit Opportunity Act (ECOA) does not prohibit discrimination against prospective applicants. […]

Filed Under: Consumer Financial Protection Bureau (CFPB), Equal Credit Opportunity Act (ECOA), Mortgage Loans Tagged With: #CFPB, #redlining, Case law, Fair Lending, mortgage lending

CFPB Petitions High Court to Consider Decision Holding Funding Structure Unconstitutional

November 29, 2022 By Sam Bragg

A&B Abstract: On November 14, 2022, the Consumer Financial Protection Bureau (“CFPB”) filed a petition for a writ of certiorari in connection with the Fifth Circuit’s recent decision in Community Financial, which held that the CFPB’s funding structure violated the Constitution’s Appropriations Clause.  (For a full discussion of the Community Financial decision, click here.) The […]

Filed Under: Consumer Financial Protection Bureau (CFPB), Supreme Court Decisions Tagged With: #CFPB, 5th Circuit, Case law, Supreme Court

The Hunstein Case: Upending Servicing and Debt Collection?

May 14, 2021 By Nanci Weissgold and Anoush Garakani

A&B Abstract: The U.S. Court of Appeals for the Eleventh Circuit, covering Alabama, Florida, and Georgia, recently decided in Hunstein v. Preferred Collection and Management, Inc., that a debt collector’s communication with its third-party vendor violated section 1692c(b) of the Fair Debt Collection Practices Act (“FDCPA”), which prohibits a debt collector for communicating, in connection […]

Filed Under: Circuit Court Decisions, Consumer Financial Protection Bureau (CFPB), Debt Collection, Dodd-Frank Act, Fair Debt Collection Practices Act (FDCPA), Federal Trade Commission (FTC), Mortgage Servicing Tagged With: #CFPB, #debtcollection, #FDCPA, Case law, Debt Collection, Eleventh Circuit, Mortgage Servicing

Federal Court Inspects Maryland’s Restrictions on Inspection Fees

November 15, 2019 By Nanci Weissgold and Anoush Garakani

A&B Abstract: Maryland’s inspection fee statute has been interpreted by the Maryland Court of Appeals and the Maryland Office of the Commissioner of Financial Regulation (“OCFR”) to apply both at the time of origination and throughout the servicing of a residential mortgage loan.  More recently, a lower federal district court decision came to a different […]

Filed Under: Consumer Loan, Mortgage Loans, State Law Tagged With: Case law, Inspection Fees, Maryland, Mortgage Servicing

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