Showing 5 posts from February 2018.

Recent Illinois Court Decision Illustrates Pitfalls of Multiple Filings of a Mortgage Foreclosure Action

February 20, 2018 by Hinshaw & Culbertson LLP

While Illinois mortgagees have the option of recouping delinquent mortgage loan debt through different types of lawsuits, the pursuit of this option can violate Illinois' prohibition on refiling the same cause of action. A recent decision illustrates the pitfalls of a mortgagee's numerous lawsuits filed on the same default and debt in reliance upon Illinois' savings statute. More ›

Maine Ups the Ante on Debt Collection Licensing

February 16, 2018 by Hinshaw & Culbertson LLP

The State of Maine recently enacted legislation that greatly expands those entities required to obtain a debt collection license. Previously, a debt collector needed to obtain a license if it was attempting to collect a debt incurred by a Maine resident to a Maine creditor. A debt collector also needed a license if it engaged in the "face-to-face" solicitation of creditor clients in Maine. These conditions have now been expanded. More ›

Read Before You Leap: Providing Telephone Number To Communicate With Collector Does Not Overshadow Validation Rights

February 13, 2018 by Concepcion A. Montoya

The New Jersey federal court has rejected a claim that providing a debtor with a telephone number and other options to communicate with a collector does not overshadow required language that the debtor must dispute the debt in writing within thirty days. The court found that the validation language concerning a consumer's right to dispute the debt under the Fair Debt Collection Practices Act (FDCPA) must be construed by considering as a whole the letter to the debtor. More ›

Business Records Exception Used to Attack Foreclosure Action in Maine Supreme Court

February 5, 2018 by Hinshaw & Culbertson LLP

The Maine Supreme Court, using a recent interpretation of the business records exception to the hearsay rule under Maine law, has raised questions regarding mortgage loan servicers' ability to foreclose on defaulted borrowers. An essential element of proof in any Maine judicial foreclosure action includes evidence of default, and in Key Bank Nat'l Ass'n v. Estate of Quint, the Court affirmed exclusion of a prior servicer's screenshots submitted to demonstrate the amount a borrower owed, costs incurred and the outstanding principal balance in pursuit of a judicial foreclosure action. The current servicer's witness testified to establish default on review of the prior servicer's business records and under exception to hearsay, but the trial judge concluded that the witness had not established the hearsay exception with regard to records of the prior servicer. More ›

The CFPB is not going anywhere—Except Maybe the U.S. Supreme Court—Following DC Circuit en banc Decision

February 1, 2018 by Vaishali S. Rao

We've been following PHH's longstanding challenge of the CFPB's imposition of a fine against it for alleged RESPA kickback violations, through which elemental questions regarding the Bureau's constitutionality were tested. More ›

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