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Maryland Regulator Puts Lenders and Servicers on Notice Regarding the Assessment of So-Called “Convenience Fees”

June 8, 2022 By Anoush Garakani and Nanci Weissgold

A&B Abstract: On May 12, 2022, the Maryland Office of the Commissioner of Financial Regulation (the “OCFR”) issued an Industry Advisory (the “Advisory”) “put[ting] [the] industry on notice” of the recent decision issued by the 4th Circuit Court of Appeals in Ashly Alexander, et. al. v. Carrington Mortgage Services, LLC.  The Advisory directs lenders and […]

Filed Under: Debt Collection, Fair Debt Collection Practices Act (FDCPA), Mortgage Servicing, State Law Tagged With: #debtcollection, #FDCPA, Debt Collection, Mortgage Servicing, Regulation F, Servicing

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

Delaware Governor Issues Order Modifying Restrictions on Residential Foreclosures and Evictions

July 17, 2020 By Nanci Weissgold and Anoush Garakani

A&B Abstract: On June 30, 2020, Delaware Governor, John Carney, issued a Twenty-Third Modification (the “Order”) to the Declaration of a State of Emergency (the “State of Emergency”), initially issued on March 12, 2020. The Order became fully effective July 1, 2020. The Order addresses a number of issues that impact residential mortgage loan servicers, […]

Filed Under: Debt Collection, Mortgage Loans, Mortgage Servicing, State Law Tagged With: #COVID=19, Debt Collection, Delaware, Foreclosure, Mortgage Servicing, Servicing

NY DFS unveils Consumer Protection Task Force, adds Former CFPB Deputy Director

January 22, 2020 By Brian Burton

A&B ABstract: Less than one month into the new year, New York’s Department of Financial Services (DFS) has taken strong measures to make good on its proclamation that  “2020 must be the year of the consumer” by: (1) unveiling a 12-member Consumer Protection Task Force to help implement an extensive consumer protection agenda; and (2) […]

Filed Under: Consumer Loan, Debt Collection, Licensing, State Law, Unfair, Deceptive and Abusive Acts or Practices (UDAAP) Tagged With: #debtcollection, #NYDFS, abusive, Debt Collection, UDAAP

CFPB Issues Its Fall 2019 Rulemaking Agenda

November 27, 2019 By Nanci Weissgold and Anoush Garakani

A&B Abstract: On November 20, 2019, the Consumer Financial Protection Bureau (the “Bureau” or “CFPB”) published its Fall 2019 Rulemaking Agenda (the “Rulemaking Agenda”) as part of the Fall 2019 Unified Agenda of Federal Regulatory and Deregulatory Actions. The Rulemaking Agenda sets forth the matters that the Bureau reasonably anticipates having under consideration during the […]

Filed Under: Consumer Financial Protection Bureau (CFPB), Consumer Loan, Debt Collection, Dodd-Frank Act, Equal Credit Opportunity Act (ECOA), Fair Debt Collection Practices Act (FDCPA), Home Mortgage Disclosure Act (HMDA), Mortgage Loans, Real Estate Settlement Procedures Act (RESPA), TRID, Truth in Lending Act (TILA) Tagged With: #CFPB, #debtcollection, #FDCPA, Ability to Repay, Debt Collection, QM, QM Patch

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