Default, Real Estate, & Collection Attorneys Amsterdam, New York
Located in the heart of New York, ALAW’s Amsterdam office stands as a testament to our commitment to serving the financial industry with precision and expertise. Our attorneys in this location specialize in a range of legal services tailored for financial institutions, including default, real estate, and collections. As New York’s financial landscape continues to evolve, our Amsterdam office remains steadfast in its dedication to providing top-tier legal counsel to our clients, ensuring they navigate the complexities of the industry with confidence.
New York Legal News
Non-Judicial Foreclosures and Junior Federal Non-IRS Liens
As many of you may be aware, the impact of the Show Me State Premium Homes, LLC v. McDonnell, 74 F.4th 911, 914 (8th Cir. 2023), reh'g denied, No. 22-1894, 2023 WL 5920101 (8th Cir. Sept. 12, 2023) 8th Circuit Court of Appeals case is rippling through our industry. This week, a major underwriter issued guidance indicating that a junior non-IRS lien should be...
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 from when the FDCPA was first enacted. Specifically, it clarifies how debt collectors can communicate with consumers via email and text messages. The use of...
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 nonjudicial foreclosures are not “debt collectors” under the Fair Debt Collection Practices Act, except in the limited scope of §1692f(6). The unanimous Court reviewed the nonjudicial practices of...
Protecting Tenants at Foreclosure Act of 2009 Is Coming Back
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 (hereinafter “PTFA”). The key provision of the reinstated law allows tenants to remain in a rental property until the end of their leases unless: • the property is sold to a purchaser that will use...