Topic
Loan Servicing
34 published works
ABS Update
Court RMBS Loan Servicer’s Claim for Lost Profit Damages Arising from Seller’s Failure to Give Notice of Document Defects
By John Lundin
On September 27, 2023, Justice Crane of the New York County Commercial Division issued a decision in HSBC Bank USA, N.A. v. Nomura Credit & Capital, Inc., 2023 NY Slip…
Financial Services Observer
CFPB Issues Report on Unlawful ‘Junk Fees’ Uncovered in Deposit Accounts, Multiple Loan Servicing Markets
On March 8, 2023, the Consumer Financial Protection Bureau (CFPB) released the Supervisory Highlights Junk Fees Special Edition (Report) detailing unlawful fees the agency found in deposit accounts and in multiple loan…
Ira J. Metrick's Law Blog
Select Portfolio Servicing (SPS) to Acquire Rushmore Loan Management Services
Select Portfolio Servicing (SPS) has announced that it is set to acquire certain Rushmore Loan Management Services assets, along with their servicing personnel and contracts, in a move that will…
Consumer Financial Services Law Monitor
Fourth Circuit Clarifies What Constitutes a QWR Under RESPA
By Jason E. Manning, S. Mohsin Reza, Kathleen Hutchenreuther, Gillian Williston, Allison Melton, Kim Gershen, John C. Lynch
On February 22, the Fourth Circuit clarified in a published opinion what communications constitute a qualified written request (QWR) under the Real Estate Settlement Procedures Act (RESPA). The Fourth Circuit…
Financial Services Perspectives
New Federal Appellate FDCPA Decision Threatens to Upend Debt Collection and Loan Servicing
By R. Aaron Chastain, Lee Gilley, J. Riley Key, Jonathan R. Kolodziej
On April 21, 2021, the U.S. Court of Appeals for the Eleventh Circuit issued a decision that threatens significant consequences for a variety of loan servicing and debt collection industries.…
Consumer Finance Monitor
CFPB Enters into a Settlement with ITT Private Loan Investors
It appears that the final chapter of the ITT Educational Services, Inc. (“ITT”) story was written last week with the CFPB’s announcement that it entered into a stipulated settlement with…
Shape Blog & Resources
Mortgage Compliance: Is Your CRM Putting Your Business At Risk?
By Dani Dunn
The mortgage regulatory landscape can feel like a minefield. Is your CRM system a safeguard or a liability? Let’s find out.Compliance in the mortgage industry is notoriously tough. The price of…
Consumer Financial Services Law Monitor
New York Department of Financial Services Issues Proposed Student Loan Servicer Regulations
By Massie P. Cooper, Monika Scott, Michael E. Lacy
New York State’s Department of Financial Services (“NYDFS”) has issued new proposed regulations regarding licensing and servicing standards for student loan servicers operating in the state. The proposed regulations stem…
All About Advertising Law
Online Lender Settles with FTC on UDAP, TSR, and EFTA Claims
By Leonard L. Gordon, Jonathan L. Pompan, Venable LLP
The Federal Trade Commission's settlement with an online consumer lending platform, Avant LLC, highlights the importance of legal and regulatory compliance in the fintech space, including—perhaps most importantly—what happens after…
Credit Chronometer
Following the Backup Plan – Part Two: We Talk to CAR Financial Services on the Keys to Successfully Engaging a Backup Servicer
This is part two of our interview with the executive team at CAR Financial Services, a subprime auto finance company with over 25 years of experience providing customized backup and successor…