Debt collector Foreclosure Lender 
Consumer Finance Watch
MARCH 21, 2019
The United States Supreme Court holds businesses conducting nonjudicial foreclosures are not “debt collectors” under the FDCPA, but lenders and foreclosure firms should take note that the Court specifically chose to leave open the question of whether businesses that conduct judicial foreclosures are “debt collectors” under the statute. .
Troutman Sanders
JULY 28, 2020
Does a judicial foreclosure action constitute “debt collection activity” under the Fair Debt Collection Practices Act (“FDCPA”)? The borrower then filed an action in federal court, claiming that an assortment of alleged misrepresentations in the foreclosure case constituted violations of the FDCPA.
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Collection Industry News
MAY 18, 2021
While consumer groups praised the bill for its recourse for consumers harassed by debt collectors, CUNA and NAFCU saw the bill as complicating the legal relationship between consumers, members and lenders. In the letter, Nussle stated, “Lenders rely on complete and accurate credit reports when underwriting loans.
Better Credit Blog
APRIL 1, 2022
Whatever you’re dealing with, late payments, collections, charge-offs, or foreclosures, the following techniques can clean up your credit quickly. This would be money well spent if it restored your good standing with lenders in time to secure a loan with low-interest rates. You may spend $400 to $500. Ads by Money.
Consumer Financial Services Law
MAY 10, 2017
A recent decision from a Louisiana district court should provide some comfort to banks and other financial institutions who acquire other entities by merger – at least in the Fifth Circuit, they are not debt collectors. As most know, Bank of America (BoA) acquired Countrywide Bank FSB and its mortgage portfolio in 2008. In Jackson v.
Troutman Sanders
FEBRUARY 26, 2021
In denying summary judgment, this decision serves as a reminder to servicers to ensure a thorough review of correspondence from a borrower to evaluate whether they may file for nonjudicial foreclosure without implicating the FDCPA or state collection laws. In that case, the plaintiffs fell behind on their mortgage payments.
Credit Corp
JUNE 14, 2023
Lenders don’t necessarily continue to report activity for the entire limit. Since the debt is old and less likely to be paid, the creditor may be willing to accept less than what you owe to consider the matter closed. Pro tip: If you can’t pay your mortgage due to financial hardship, contact your lender as soon as possible.
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