May 9, 2019

CFPB’s Proposed Debt Collection Rule

On Tuesday, May 7, 2019 the Consumer Financial Protection Bureau (CFPB) issued their proposal to amend Regulation F, which incorporates the Fair Debt Collection Practices Act (FDCPA). The proposed rule takes into account the current communication landscape, which vastly differs…

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April 24, 2019

CFPB to Update 1977 Laws on Debt Collection

On Wednesday, April 17th, Kathy Kraninger delivered her first major policy speech as the Director of the Consumer Financial Protection Bureau (CFPB), to announce major changes to debt collection rules in the coming weeks. Creditors’ rights advocates like ALAW have…

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April 1, 2019

U.S. Bankruptcy Court for the District of South Carolina Changes Objection Time for Chapter 13 Plans

Effective May 1, 2019, the U.S. Bankruptcy Court for the District of South Carolina will adopt a new Chapter 13 Plan form.  The time period for objection to the Plan will no longer be visible on the face of the Plan. …

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March 21, 2019

Obduskey v. McCarthy & Holthus 

U.S. Supreme Court rules that businesses engaged in nonjudicial foreclosure proceedings are not considered “debt collectors” under the Fair Debt Collection Practices Act In a much-anticipated decision, the U.S. Supreme Court upheld the Tenth Circuit by holding that entities conducting…

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February 22, 2019

New Mortgage Servicer Requirements for Ohio

Information on Ohio H.B. 489 Pre-Foreclosure Notice on Junior Liens Ohio H.B. 489 implements a new requirement [1], effective March 20, 2019, which requires a person collecting a debt that is secured by a second mortgage or junior lien on a…

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February 5, 2019

Ohio Passes eNotary Bill

Senate Bill 263 – known as the Notary Public Modernization Act – was recently signed into law in Ohio, and will take effect beginning on September 18, 2019. Highlights of the bill include: Allows a duly appointed and commissioned Ohio notary public to apply…

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January 2, 2019

Florida Appeals Court Says Lenders Can Recover Amounts Accrued Over Five Years Past Due

On December 26, 2018, Florida’s Fifth District Court of Appeal issued an opinion allowing recovery of amounts accrued more than five years prior to the filing of the foreclosure. Although the Court’s decision in William L. Grant v. Citizens Bank,…

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June 1, 2018

Protecting Tenants at Foreclosure Act of 2009 Is Coming Back

Update on Protecting Tenants at Foreclosure Act of 2009 (“PTFA”) On May 24, 2018, Senate Bill 2155 became Public Law No: 115-174. One important provision contained in the new law brings back the Protecting Tenants at Foreclosure Act of 2009…

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March 23, 2018

New Florida Legislation

New Florida Legislation on Bankruptcy Surrender In summary: Any foreclosure action filed after October 1, 2018 where the borrower has filed Bankruptcy indicating: Their intention to surrender the property; it has not been withdrawn; AND a final order discharging the…

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December 13, 2017

Curing Defaults in Chapter 13 Bankruptcy: Foreclosure Judgment or Loan Documents?

In Chapter 13 proceedings, the Bankruptcy Code empowers a Debtor to cure a prepetition default while maintaining the current contract payment with the creditor. As a tradeoff, all terms of the original loan documents are reinstated. While a relatively straightforward…

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