Search Results: Mortgage

Supreme Court Will Not Review Third Circuit FDCPA Decision

The U.S. Supreme Court recently declined to review a debt collector’s appeal of the Third Circuit’s decision this summer that debtors were not required to dispute their debt under the Fair Debt Collection Practices Act (FDCPA) before filing suit.  The Third Circuit decision reversed a district court’s dismissal of a class…

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CFPB Finalizes Mortgage Rules Amendments

On October 22, the CFPB issued amendments to the Dodd-Frank Act mortgage rules that took effect in January 2014.  The amendments include: ATR/QM Cure Provision: Under the Ability-to-Repay/Qualified Mortgage Rule, a mortgage loan must meet certain requirements to be considered a “qualified mortgage”.  One such requirement is that the points and fees…

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CFPB Takes Action to Enforce New Mortgage Servicing Rules

The Consumer Financial Protection Bureau (CFPB) has entered a consent order with a mortgage bank following CFPB’s allegations that the bank violated the new mortgage servicing rules.  CFPB claimed that the bank: ​took an unreasonably long time to process borrowers’ applications for loan modifications or other foreclosure relief; failed to…

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You Have No Standing to Challenge the Assignment or Transfer of Your Mortgage and Note in ...

On August 27, 2014, the California Supreme Court granted a petition for review in which the Second Appellate District of the California Court of Appeals dismissed a mortgagor’s challenge to foreclosure proceedings, ruling that she had no standing to challenge assignment of her promissory note and the deed of trust…

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