"Schumer Box" Disclosure Not "Clear And Conspicuous" As A Matter Of Law
Financial Matters
- August 4, 2023 5:13 PM "Schumer Box" Disclosure Not "Clear and Conspicuous" As a Matter of Law
- December 3, 2023 11:27 PM $1000 Cap On Damages For TILA Violations
- March 16, 2024 12:21 PM 3rd Circuit Decision Holds That Captive Reinsurance Arrangements Violate Section 8(a) of RESPA
- December 24, 2023 11:28 PM Absent Actual Knowledge Of An Inconsistency, Banks May Rely On Account Number Specified On An Incoming Wire Transfer
- July 21, 2023 12:17 AM An Oral Agreement To Forego Bankruptcy In Exchange For New Repayment Terms May Replace The Original Loan Agreement
- June 25, 2023 9:59 AM Another California Court Approves The Use Of MERS
- December 2, 2023 6:06 PM Bank Had No Duty To Advise Business Charge Card Owner That Bank Had Obtained Judgment Against A Person Who Was Authorized To Use The Card
- November 30, 2023 8:17 PM Bank May Seek Attachment On Unsecured Guaranty Even If Principal Loan Is Secured
- March 30, 2023 12:01 AM Bank Not Liable For Aiding And Abetting, Absent "Actual Knowledge Of The Underlying Wrong"
- June 1, 2023 6:41 PM Bank Not Liable In Nigerian-Style Email Scam
- May 24, 2023 12:52 AM Bank's Agreement To Accept Late Loan Payment Invalidates Trustee's Sale (Even If Trustee Was Unaware)
- October 7, 2023 3:09 PM Bank's Claim For Unjust Enrichment Governed By Three-Year Statute of Limitations
- January 3, 2024 9:27 PM Bank's Failure To Deposit Interpleader Funds With Court Waives Claim For Attorney's Fees
- June 23, 2023 1:02 AM Bank's Internal Suspicious Activity Reports Not Subject To Discovery
- January 13, 2024 7:38 PM Banks Lose Important Foreclosure Case In Massachusetts High Court
- February 18, 2024 9:05 PM Brokers - Thou Shalt Not Accept Payments From More Than One Source In Connection With a Mortgage Loan
- February 4, 2024 1:45 PM California Court Holds That Borrowers May Enjoin A Foreclosure If A Lender Fails To Meet Servicing Guidelines
- December 9, 2023 11:45 PM California Court Upholds Delaware Choice of Law Provision Prohibiting Class-Wide Arbitration
- December 12, 2023 9:02 AM California Homeowner Bill of Rights: A New Mortgage Law For The New Year
- July 1, 2023 7:49 PM California Passes New Electronic Discovery Act Effective Immediately
- May 19, 2023 12:17 PM California Statute Regarding Convenience Checks Not Facially Preempted By Federal Law
- February 1, 2024 9:30 PM California Supreme Court Strikes Down Oakland's Predatory Lending Ordinance
- February 13, 2024 7:22 PM California UCC Supersedes Common Law In "Missing Indorsements" Case
- December 4, 2023 1:32 PM Capital Purchase Program - Non-Public Financial Institutions
- November 21, 2023 4:41 PM Capital Purchase Program - Publicly Traded Financial Institutions
- April 22, 2023 11:07 PM Case Tests Validity of Class Action Waiver in Arbitration
- May 29, 2023 2:08 PM CFPB Issues Consent Order To Taylor Homes Based On Sham Joint Venture Arrangement
- August 15, 2023 9:24 PM CFPB Releases Exam Procedure Updates For TILA and RESPA
- September 1, 2023 12:54 PM The California Court Of Appeal Again Rejects A Claim For Wrongful Foreclosure At The Pleading Stage
- September 21, 2023 12:56 PM Claim That Lender Violated UCL In Disclosures On HUD-1 Settlement Statement Stated A Claim And Was Not Preempted
- January 30, 2024 3:46 PM Class Action Not Permitted To Assert Rescission Claim Under TILA
- August 15, 2023 8:36 PM Commissioner Of Corporation's Authority To Audit Is Preempted By Federal Law
- July 10, 2023 5:22 PM Consumer Cannot Challenge Credit Card Agreement Under Consumer Legal Remedies Act
- January 31, 2024 5:37 PM Consumer's UCL Claim Based on Violation of OCC Disclosure Requirements Not Preempted
- October 23, 2023 8:09 PM Contact Us
- March 5, 2024 2:46 PM Courts Remain Split on Availability of Class Actions for Rescission Under Truth in Lending Act
- May 21, 2023 1:52 PM Credit Card Issuer Owes No Duty To Non-Obligor "Cardholder"
- December 19, 2023 11:44 PM Delaware Choice Of Law Provision Barring Class Wide Arbitration Held Unconscionable
- September 12, 2023 12:45 PM Depository Bank Not Liable When Checks Were Deposited Into The Account Of A Related But Different Legal Entity
- January 6, 2024 1:44 PM FCRA Completely Preempts California's CCRAA
- October 13, 2023 4:37 PM FDIC Changes Deposit Insurance Rules For Mortgage Loan Securitizations
- June 9, 2023 2:05 PM Federal Bank Agencies Publish Examples Of Information To Be Provided For Hybrid Mortgage Products
- July 15, 2023 3:15 PM Federal District Court In 11th Circuit Expands Scope Of RESPA Section 8(b)
- June 9, 2023 1:48 PM Federal Trade Commission And Federal Reserve Board Issue Proposed Rules On Risk-Based Pricing Notices
- March 8, 2024 8:13 PM FHA Proposes Higher Net Worth Requirement For Lenders In Effort To Strengthen Risk Management
- May 30, 2023 1:15 PM CFPB Amends Ability-To-Repay/Qualified Mortgage Regulations To Exclude Creditor's Payment Of Compensation To Loan Originator Employees From Calculation Of Points and Fees
- July 30, 2023 11:52 AM Court of Appeal Reaffirms MERS' Ability to Foreclose, Holds That Recorded Documents Do Not Overcome a Specifically Pled Violation of Section 2923.5
- May 18, 2023 9:32 AM Borrower's "Show Me The Note" Argument Fails To Halt Foreclosure
- April 24, 2023 5:09 PM California Department of Corporations States That Wholesale Account Executive Who Does Not Deal With Consumers Is Not A Mortgage Loan Originator
- March 13, 2024 3:13 PM A "Loan Workout Plan" Is Not An Agreement To Modify A Loan
- January 9, 2024 5:08 PM Default Judgment Is Not Available In Actions To Quiet Title
- February 15, 2024 1:11 PM Federal Agencies Issue Final Rules On Fighting Identity Theft
- February 14, 2024 11:04 AM Federal Banking Regulators Issue Final Rule On Financial Institutions' Affiliate Marketing
Financial Matters
- October 24, 2023 1:28 AM Financial Services
- October 21, 2023 12:08 PM No Need To Record An Assignment Of A Deed Of Trust Prior To Foreclosure
- April 12, 2023 12:37 PM A Borrower May Not Bring An Action To Determine Whether The Owner Of A Mortgage Note Has Authorized A Nonjudicial Foreclosure
- June 19, 2023 11:59 AM GLB Does Not Prohibit Use Of Unencrypted Personal Financial Information On Home Computer
- May 29, 2023 3:12 PM Helping Families Save Their Homes Act of 2009 Imposes New and Uncertain Disclosure Requirements On Buyers and Assignees of Home Loans
- April 21, 2023 6:19 PM House Approves Legislation to Eliminate Duplicative Consumer Privacy Notices
- April 30, 2023 3:04 PM House Financial Services Committee Votes to Suspend Use of New GFE and HUD-1
- October 14, 2023 4:04 PM HUD Revamps FHA Lending Requirements
- August 26, 2023 3:45 PM HUD Audits Claim First Magnus Marketing And Volume-Based Incentive Arrangements Violated RESPA
- January 8, 2024 1:27 PM HUD Delays Effective Date Of Builder Incentive Ban
- March 8, 2024 8:07 PM Joint Venture Exception to the Usury Laws
- February 15, 2024 6:15 AM Disclaimer
- February 15, 2024 6:15 AM Privacy Policy
- April 20, 2023 8:01 PM Lender Liability: Taking Stock in Uncertain Times
- August 16, 2023 11:32 AM Lender's Representation That Borrower "Qualified" For Loan Not A Representation Borrower Could "Afford" A Loan
- October 24, 2023 12:05 PM Massachusetts Supreme Judicial Court Holds That Bad Foreclosure = Bad Title For Bona Fide Purchaser
- August 24, 2023 3:11 PM MORE BAD NEWS FOR MORTGAGE LENDERS? PMI COMPANIES ATTEMPTING TO RESCIND INSURANCE POLICIES
- June 16, 2023 6:14 PM More Teeth For The Tender Rule
- April 14, 2023 12:01 PM To Avoid Assuming Fiduciary Duties, Mortgage Lenders Should Take Care to Avoid Acting as Mortgage Brokers
- September 15, 2023 11:12 AM Mortgage Lender Not "Financial Institution" for Federal Criminal Bank Fraud Just Because It Was Owned By a Financial Institution
- October 18, 2023 5:58 PM Dispelling the Myth of MERS as a "Sham" Beneficiary
- September 20, 2023 11:40 AM Too Little, Too Late For Plaintiff's Fraud-Based Mortgage Lawsuit
- April 14, 2023 12:01 PM To Avoid Assuming Fiduciary Duties, Mortgage Lenders Should Take Care to Avoid Acting as Mortgage Brokers
- December 28, 2023 5:14 PM National Bank Act Does Not Preempt Age Discrimination Claim Under State Law
- January 19, 2024 6:25 PM National Bank Is Citizen Of State In Which Its Main Office Is Located
- August 19, 2023 1:38 PM New California Law Requires Additional Steps For Foreclosures
- August 14, 2023 8:05 AM New FCA Rules Put Lenders and Brokers Directly in Their Gun Sights
- July 16, 2023 6:33 PM New Los Angeles Ordinance Requires Banks And Lenders To Repair Vacant Residential Property
- July 29, 2023 12:34 PM New Regulation Z Proposal Bans Yield Spread Premiums, Revamps Disclosure Requirements
- July 22, 2023 1:09 PM Non-California Loan Company Could Not Enforce Nevada Choice Of Law Provision To Avoid California Finance Lenders Law
- April 17, 2023 5:56 PM Operating Subsidiaries Of National Banks Also Not Subject To State Law Licensing, Reporting, And Visitorial Regulations
- November 8, 2023 12:46 PM California Statute Governing Preferences In Assignments For Creditors Not Preempted
- November 16, 2023 9:03 PM No Private Right of Action for Violation of Statutes Extending Notice Period for Foreclosures
- July 7, 2023 1:07 PM Ohio Federal District Court Rules That HUD's Sham Joint Venture Guidelines Are Unconstitutional
- March 11, 2024 7:12 PM Ninth Circuit Court of Appeals Joins Other Circuits And Holds That Overcharge Does Not Violate Section 8(b) of RESPA
- September 12, 2023 5:50 PM Payment Streams Stripped From Equipment Leases Are "Payment Intangibles"
- June 29, 2023 6:57 PM Preemption Debate Continues - Now In The Supreme Court
- March 2, 2024 6:01 PM Preemption Not Dead: Servicers of Student Loans Achieve Significant Victory in Ninth Circuit Preemption Case
- January 30, 2024 3:56 PM Prepayment Penalty Claim Preempted By HOLA
- October 29, 2023 10:50 PM Presentation Of Letter Of Credit Within Seven Days
- February 15, 2024 9:25 PM Rate "Lock In" Agreement Subject To Three-Day TILA Notice
- May 2, 2023 11:51 AM Refinancing Does Not Bar TILA Claim Regarding Original Loan
- June 5, 2023 4:47 PM Relief for Securitization Vehicles: Mortgage Modification under Foreclosure Prevention Programs
- March 6, 2024 6:20 PM RESPA'S Required Use Rule Delayed
- January 25, 2024 12:05 AM Second District Upholds "Reasonable" Liquidated Damages Provision In Standard Form Consumer Contract
- February 15, 2024 6:16 AM RSS
- February 12, 2024 7:07 PM Term Asset-Backed Securities Loan Facility
- May 5, 2023 10:37 PM Termination Fee For Merchant Credit Card Account Not Unlawful Liquidated Damage
- June 21, 2023 5:42 PM The California Court Of Appeal Narrowly Interprets The Perata Mortgage Relief Act
- August 31, 2023 5:01 PM The California Court Of Appeals Weighs In On Option ARM Class Actions
- August 24, 2023 6:37 PM The Grafton Case: Pre-dispute Jury Trial Waivers are Unenforceable
- October 16, 2023 12:02 PM TILA Does Not Require A Loan Servicer To Identify Who Owns A Loan, Unless The Servicer Owns The Loan By Assignment
- February 12, 2024 6:35 PM Troubled Asset Relief Program - Update
- June 27, 2023 11:57 AM U.S. District Court Rules That OTS Opinion Letter On Exclusive Agents Preempts State Banking Statutes
- July 21, 2023 6:38 PM When Is A Loan Sale A Table-Funded Transaction Subject To RESPA? U.S. District Court In California Casts Doubt On Routine Transactions
- December 14, 2023 11:22 PM Yield Spread Premium Irrelevant For Purposes of Predatory Lending Law
- March 9, 2024 5:23 PM Yield Spread Premium Still Irrelevant For Purposes Of Predatory Lending Law