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Only promissory note holders can initiate foreclosures in Washington state
  • Ballard Spahr LLP
  • USA
  • August 23 2012

The Supreme Court of Washington has determined that, under the Washington deed of trust act, only the actual holder of a promissory note can be the beneficiary with the power to appoint a trustee to proceed with a nonjudicial foreclosure on real property


Mortgage investor's alleged failure to be licensed could subject company to claims under debt collection statutes
  • Ballard Spahr LLP
  • USA
  • March 21 2013

A federal court in Maryland recently declined to dismiss a borrower's claims that the owner of a mortgage loan operated as a debt collection agency


Washington Supreme Court: trustee's actions in nonjudicial foreclosure violated consumer law
  • Ballard Spahr LLP
  • USA
  • March 21 2013

The Washington Supreme Court has held that a trustee's practice in a nonjudicial foreclosure of deferring to the lender on whether to postpone a


CFPB testifies on elder financial abuse initiatives
  • Ballard Spahr LLP
  • USA
  • November 20 2012

The CFPB’s initiatives to address elder financial abuse were the focus of testimony last week by Hubert H. “Skip” Humphrey III, the CFPB’s Assistant Director for the Office of Older Americans, to the Senate’s Special Committee on Aging


Fed’s evaluation of CFPB’s consumer complaint system describes CFPB’s plans for referrals from state regulators
  • Ballard Spahr LLP
  • USA
  • October 9 2012

The Federal Reserve Board’s Office of the Inspector General (OIG) has issued an evaluation of the CFPB’s Consumer Response unit, which is responsible for managing the CFPB’s consumer complaint system


Preparing your company for sale: the role of investment banks
  • Ballard Spahr LLP
  • USA
  • March 29 2012

After determining to sell a business, a potential seller must decide whether to hire an investment bank to facilitate the sale process or to rely on the company’s owners, management, and legal advisers to manage the transaction


HUD face-to-face meeting rule gets expansive reading from Virginia high court
  • Ballard Spahr LLP
  • USA
  • May 10 2012

In a decision affecting all lenders in Virginia that issue FHA-insured home loans, the Supreme Court of Virginia has adopted an expansive reading of HUD’s requirement of face-to-face meetings prior to foreclosure


Information security preparedness checklist
  • Ballard Spahr LLP
  • USA
  • January 10 2013

Financial services companies are under constant attack by cyber criminals to hack, skim, socially engineer, or even Dumpster dive consumer data out of an


Virginia exempts loan processors and underwriters from licensing
  • Ballard Spahr LLP
  • USA
  • February 6 2013

Virginia has explicitly exempted third-party loan processors and underwriters from mortgage broker licensure requirements. Effective January 28, 2013


CFPB issues bulletin to specialty consumer reporting agencies on free credit reports and sends warnings
  • Ballard Spahr LLP
  • USA
  • November 30 2012

The CFPB has issued a bulletin to nationwide specialty reporting agencies to remind them of their obligation under the Fair Credit Reporting Act to establish a streamlined process for requests from consumers for free annual credit reports