At issue in Overland Bond & Inv. Corp. v. Calhoun, 2023 IL App (1st) 221804 (Nov. 27, 2023) was whether a lender can invoke an arbitration provision in a loan agreement after commencing legal proceedings arising from the borrowers’ default under that agreement. The First District Appellate Court held that…
Read More »Frazier v. Dovenmuehle Mortg., Inc., No. 22-2570 (7th Cir. July 5, 2023) addressed the question whether the completeness or accuracy of information furnished by a data furnisher under § 1681s-2(b) of Fair Credit Reporting Act must be judged, not on the ACDV response the data furnisher provides to the credit…
Read More »At issue in FirstMerit Bank, N.A. v. McEnery, 2022 IL App (3d) 210306 (Dec. 21, 2022) was who had the right to shares of stock: the citation petitioner-bank who had recorded a judgment against its borrower who once owned the shares or certain trusts who claimed they were bona fide…
Read More »In Cooper v. Retrieval-Masters Creditors Bureau, Inc., No. 18-2358 (7th Cir. July 29, 2022) the Seventh Circuit addressed attorney fee awards to prevailing plaintiffs under the FDCPA where the damage award was modest and the plaintiff had rejected what hindsight shows to have been a substantial early settlement offer. The…
Read More »The Eleventh Circuit in Daniels v. Select Portfolio Servicing, Inc., 34 F.4th 1260 (11th Cir. May 24, 2022) reversed a district court ruling in favor of a mortgage servicer that monthly mortgage statements sent in compliance with Truth In Lending Act (“TILA”) are not communications in connection with the collection…
Read More »On March 15, 2022, the Adjustable Interest Rate (LIBOR) Act (the “LIBOR Act”) was signed into law, as Division U of the enactment of the Consolidated Appropriations Act of 2022. As the London Interbank Offered Rate (“LIBOR”) index is set to end on June 30, 2023, the LIBOR Act provides…
Read More »To the several opinions issued in the last two years on the scope and impact on mortgage foreclosure proceedings of Illinois’ “single-refiling” rule, which allows a plaintiff to dismiss and refile a suit only once, needs to be added Bank of New York Mellon as Tr. for Certificate Holders of…
Read More »On June 17, 2021, the Illinois Supreme Court in Walker v. Chasteen, 2021 IL 126086 (June 17, 2021) struck down on constitutional grounds a section of Illinois’ foreclosure rules imposing a $50 filing fee for each residential mortgage foreclosure case filed, and up to an additional $500 fee for institutions…
Read More »In Alabama Ass’n of Realtors v. United States Dep’t of Health & Hum. Servs., No. 20-CV-3377 (D.D.C. May 5, 2021) the U.S. District Court for the District of Columbia struck down the Centers for Disease Control and Prevention’s (“CDC”) eviction moratorium concluding that the Secretary of the Department of Health…
Read More »The appeal in Hunstein v. Preferred Collection and Management Services, Inc., No. 19-14434 (11th Cir. Apr. 21, 2021) arose from the dismissal of a claim that a debt collector violated section 1692c(b) of the FDCPA which prohibits a debt collector from communicating consumers’ personal information to third parties “in connection…
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