On October 29, 2020, five federal financial regulatory agencies, the FRB, CFPB, FDIC, NCUA and the OCC (the “Agencies”), jointly issued a proposed rule outlining and confirming the Agencies’ use of supervisory guidance for regulated institutions. The proposed rule intends to codify the Agencies’ Interagency Statement Clarifying the Role of…
Read More »At issue in Perea v. Portfolio Recovery Assocs., LLC, No. 18-CV-06504 (N.D. Ill. Sept. 28, 2020) was whether a debt collector violated the FDCPA by attempting to collect time barred debt. Although the debt collector provided a disclaimer in the dunning letter that it would not restart the statute of…
Read More »Noonan & Lieberman is proud to announce the addition of Robert J. Emanuel as a partner. Bob represents financial institutions such as national banks, mortgage lenders and loan servicers, in class and individual actions that arise under federal consumer lending statutes such as the Real Estate Settlement Procedures Act, the…
Read More »In U.S. Bank Nat’l Ass’n as Tr. for C-Bass Mortg. Loan Asset-Backed Certificates, Series 2006-CB2 v. Sharif, 2020 IL App (1st) 191013 (Sept. 17, 2020), the mortgagor appealed the order confirming a foreclosure sale contending that the notice of the sale was insufficient. The mortgagor complained that public notice of…
Read More »The trial court in Wilmington Savings Fund v. Barrera, 2020 IL App (2d) 190883 (September 21, 2020) dismissed a foreclosure suit as being barred by the single refiling rule. The appellate court reversed, holding that the borrower’s subsequent failure to make property tax and insurance payments were new defaults and…
Read More »On August 8, 2020, President Trump signed an executive order directing the Secretary of Health and Human Services and the Director of the Centers for Disease Control and Prevention (CDC) to “consider whether any measures temporarily halting residential evictions of any tenants for failure to pay rent are reasonably necessary…
Read More »The borrowers in The Bank of New York Mellon v. Brozek, No. 2019AP1736 (July 16, 2020), counterclaimed that the foreclosing bank breached the implied duty of good faith and fair dealing in connection with its servicer’s handling of the borrowers’ multiple loan modification applications. The borrowers also sued the servicer…
Read More »On Friday, July 31, 2020, Founding Partner Jim Noonan will be virtually presenting at this year’s American Legal & Financial Network (ALFN) ANSWERS webinar entitled “Hindsight is 2020 – A year in Review. Top Issues of the Past Year.” Conferences as we have known them may be on hold, but…
Read More »On June 23, 2020, Noonan & Lieberman, Ltd., and Jeffrey Grant Brown, P.C., filed a complaint in the Circuit Court of Will County, Illinois, on behalf of three property owners challenging the Governor of the State of Illinois’ moratorium on evictions. While we agree with the Governor’s wish to protect…
Read More »The Seventh Circuit in Bastani v. Wells Fargo Bank, N.A., No. 20-1373 (June 8, 2020) was presented with an question on appeal from a Chapter 13 bankruptcy case where the debtor did not pay the appellate fee, but sought leave to proceed on appeal in forma pauperis. It denied the…
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