A consumer in a state court collection action brought suit under the FDCPA contending that the debt collector’s response to the consumer’s motion to dismiss the state court case constituted a communication in violation of 15 U.S.C. § 1692e. The district court held that the response was a “formal pleading”…
Read More »The Sixth Circuit held in In re Burke, 863 F.3d 521 (6th Cir. July 14, 2017), that a Trustee cannot deprive Chapter 7 debtors of standing to compel the Trustee to abandon the property by tendering their homestead exemption. The Chapter 7 Trustee moved to evict Debtors from their home,…
Read More »On August 22, 2017, the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation have issued a joint proposed rule to extend the current transitional capital rules treatment of certain regulatory capital deductions and risk weights and certain minority interest…
Read More »In an issue of first impression, the Fourth Circuit held in Sibert v. Wells Fargo Bank, N.A., 863 F.3d 331 (4th Cir. July 17, 2017), that 50 U.S.C. § 3953 of the Servicemembers Civil Relief Act (“SCRA”) offers a mortgagor who has multiple periods of military service no protection if…
Read More »In Ruvalcaba v. Ocwen Loan Servicing, No. 15-cv-00744 (S.D. Ca. July 13, 2017), the District Court for the Southern District of California considered the scope of a title company’s duties when acting as a sub-escrow agent and to whom it owes duties arising out of a lender’s closing instructions and…
Read More »The issue in *Oliva v Blatt, Hasenmiller, Leibsker & Moore*, No. 15-2516 (7th Cir. July 24, 2017) (en banc) was whether a debt collector who violated the venue provision of the FDCPA can avoid liability on the ground that it was relying on controlling circuit precedent interpreting the statute when…
Read More »On June 26, 2017, the FDIC has issued FIL-30-2017 concerning its update to the Affordable Mortgage Lending Guide (“Guide”) with updated Part II information concerning mortgage programs offered through state housing finance agencies (HFAs). The updated Guide contains a state-by-state HFAs product matrix, program summaries and quick links. It also…
Read More »In Wells Fargo Bank, N.A., v. Dixie R. Norris et al., 2017 IL App (3d) 150764 (July 3, 2017) an Illinois appellate court clarified the limits of 735 ILCS 5/13-217, commonly known as the “single re-filing rule”, holding that res judicata principles govern whether a re-filed action is the same…
Read More »In In re Town Ctr. Flats, LLC, 855 F.3d 721 (6th Cir. 2017) the Sixth Circuit held that under Michigan law an assignment of rents agreement transferred the ownership of the rents to the creditor and therefore the rents were not property of the bankruptcy estate. The debtor in In…
Read More »In In re Sunnyslope Hous. Ltd. P’ship, 859 F.3d 637, 640 (9th Cir. 2017), as amended (June 23, 2017), the creditor held a lien on property which pursuant to certain covenants in debtor’s loan agreements was required to be used as low income housing. The requirement that the property be…
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