A recent federal appellate court ruling illustrates the traps lenders could trip when state court collection actions against joint borrowers intersect with federal bankruptcy law.
Appellate court ruling allows receivers to sell property even if proceeds fail to compensate junior lien holders.
https://www.ftc.gov/system/files/documents/statutes/fair-credit-reporting-act/545a_fair-credit-reporting-act-0918.pdfCourt rules that bank, which accepted a borrower's voluntary payments post-bankruptcy and opted not to foreclose its security interest in the mortgage, did not violate the FCRA by reporting the loan as closed on the borrower's credit report.
Appellate court rules on whether lender can sue to enforce other security in a loan default situation without also foreclosing on the borrower's mortgage.
Subscribe
RSSTopics
- Commercial Liability
- Contracts
- Commercial Real Estate
- Business Risk Management
- Commercial Leasing
- Business Torts
- Cryptocurrency
- Regulatory Law
- Bankruptcy
- Real Estate
- Civil Litigation
- Coronavirus
- COVID-19
- Real Estate Mortgages
- Commercial Loans
- Mortgage Foreclosure
- Alternative Dispute Resolution (ADR)
- Damages Recovery
- Shareholder Liability
- privacy
- Risk Management
- Insurance
- Tax Law
- Fraud Activity
- Cyber Attack
- Class Action
- Product Liability
- Pensions
- Standing
- Cybersecurity
- Biometric Data
- Banking Law
- Statute of Limitations
- e-Discovery
- Noncompete Agreements
- e-Commerce
- Internet Law
- Consumer Protection
- Residential Liability
- Venue
- Zoning and Planning
- Clawback
- Department of Education (DOE)
- Receiverships
- Fair Debt Collection Practices Act
- Fair Credit Reporting Act
- Garnishments
- Unfair Competition
- Uniform Commercial Code (UCC)
Recent Updates
- Preliminary Injunctions in Michigan, the More They Change the More They Stay the Same
- President Biden Signs Cryptocurrency Executive Order Establishing Whole-of-Government Approach to Regulating Digital Assets Industry
- My 5 Lessons Learned from the COVID-19 Pandemic
- Am I at Fault for Breach of Contract if the Other Party Breached It First?
- Maximizing Damages Recovery in Michigan's District Courts Challenged by Jurisdiction Limits
- Proliferation of Security Cameras, Drones Doesn't Necessarily Reduce Reasonable Expectation of Privacy Under the Law
- Does Sympathy or Empathy Have a Place in the Courtroom?
- No Light Yet at End of COVID-19 Real Estate Tunnel
- When are Clear, Unambiguous Contracts Nonetheless Ambiguous?
- What the Future may Hold for Michigan Real Estate Foreclosures and Evictions