Acquisition Creditors Lender 
Jimerson Firm
FEBRUARY 2, 2021
If a borrower defaults on a SBA loan, the lender or CDC must assess the environmental risk of contamination before conducting any liquidation action that could result in a loss, or otherwise increase the risk of loss, due to the actual or alleged presence of contamination. SOP 50 10 5(E), Appendix 2. SOP 50 57 2 ; SOP 50 55.
Jimerson Firm
OCTOBER 22, 2020
Sometimes, foreclosure of a commercial property is the only option available to lenders and servicers to limit losses as a result of defaults on hotel and restaurant mortgages. Parts 1-4 of this series discussed pre-foreclosure options available to lenders dealing with hotel/restaurant mortgage defaults. 702.015(4) , Fla.
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Troutman Sanders
MARCH 22, 2021
OppFi) — a Chicago-based platform lender — announced that the Consumer Financial Protection Bureau (CFPB) is investigating its compliance with the Military Lending Act. And in March 2021, Oportun, another online consumer lender, disclosed that the CFPB is investigating its debt collection practices.
Fico Collections
JULY 6, 2021
Such events cast many borrowers into uncomfortable territory, creating what may be a defining moment in the relationship between them and their lenders. Lenders who get it right may earn a loyal customer for life, while those who misfire risk cannibalizing valuable relationships that often span multiple products.
Consumer Financial Services Law
MAY 10, 2017
The consumer alleged BoA was a debt collector under the FDCPA because his “loan was in default prior to the transfer from his original lender Countrywide to Bank of America.” The acquisition by merger was a key factor for the court which also relied upon prior Fifth Circuit precedent, Brown v. Bank of America, N.A., Morris , 243 Fed.
Troutman Sanders
MAY 5, 2022
Providing inaccurate explanations to consumers as to why the creditor denied the consumers’ billing error claims in whole or part. The CFPB reports that this seems to happen most often with creditors’ acquisitions of pre-existing credit card accounts from other creditors. Debt Collection.
Fico Collections
DECEMBER 8, 2022
Such events cast many borrowers into uncomfortable territory, creating what may be a defining moment in the relationship between them and their lenders. Lenders who get the strategy right may earn a loyal customer for life, while those who misfire risk cannibalizing valuable long-term relationships that often span multiple asset classes.
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