On August 4, 2016, the Consumer Financial Protection Bureau (CFPB) issued its long-awaited final mortgage servicing rule under the Real Estate
Consumer Finance Litigation On November 26, 2013, in Marais v. Chase Home Finance LLC, the U.S. Court of Appeals for the Sixth Circuit issued two key
On October 15, 2013, the Consumer Financial Protection Bureau ("CFPB") issued a bulletin providing guidance on certain mortgage servicing rules which
Continuing with its work on a combined TILARESPA application disclosure, the Bureau has posted yet another round of model disclosure forms for comment by consumers and the industry, this time focusing on the differences between fixed and adjustable rate loans.
In In re Rodriguez, No. 09-2724 (3rd Cir. Dec 23, 2010), a three-judge panel for the Third Circuit considered whether an automatic stay under the Bankruptcy Code prevented a mortgage servicer from accounting for a pre-petition shortage on a mortgage escrow account in its post-petition calculation of the bankrupt debtors’ future monthly escrow payments.
Pursuant to the Consumer Financial Protection Act of 2010 ("CFP Act"), which is part of the Dodd-Frank Act, the Secretary of the Treasury has designated July 21, 2011, as the date for the transfer of functions to the Bureau of Consumer Financial Protection ("CFPB").
On March 9, 2010, the Ninth Circuit held that the National Bank Act ("NBA") preempts claims of "unfair" and "fraudulent" conduct in violation of state law.
A decision this week by the U.S. Court of Appeals for the Ninth Circuit bolsters the position of national banks that the National Bank Act (NBA) and regulations of the Office of the Comptroller of the Currency (OCC) trump state laws on fee-related practices.
The U.S. Department of Housing and Urban Development (HUD) recently issued new rules that modify the Real Estate Settlement Procedures Act (RESPA).
This memorandum summarizes noteworthy provisions of HR 1728, the "Mortgage Reform and Anti-Predatory Lending Act", which was introduced by Representatives Brad Miller, Mel Watt, and Barney Frank on March 26, 2009.