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Freiberger Haber LLP

The Appellate Division, Second Department, Holds that Banking Law 6-l is a Personal Defense that Can Only be asserted by the...

Freiberger Haber LLP on

By: Jonathan H. Freiberger As readers of this BLOG know, we frequently write about issues relating to mortgage foreclosure. We have also written numerous articles relating to the recently enacted FAPA... ...more

Freiberger Haber LLP

Death of a Litigant

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Because litigation can be a long and drawn-out process, it is not uncommon for litigants to die during the pendency of a lawsuit. In today’s BLOG article, we address the problems that may arise when a litigant dies. This BLOG...more

Ballard Spahr LLP

Colorado appeals to Tenth Circuit from Federal District Court order granting plaintiffs’ motion for a preliminary injunction in...

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On the very last day for filing an appeal, the Colorado Attorney General and UCCC Administrator filed a Notice of Appeal to the Tenth Circuit Court of Appeals of the Colorado federal district court’s order in favor of the...more

Proskauer Rose LLP

UK Tax Round Up - June 2024

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Welcome to the June edition of the UK Tax Round Up. This month features the latest Court of Appeal decision in a trilogy of recent cases regarding the loan relationship “unallowable purpose” test, an Upper Tribunal decision...more

Bradley Arant Boult Cummings LLP

Navigating Desbrunes: Implications and the Case for Overturning

In a less-than-thousand-word opinion, the Fourth District Court of Appeal of Florida put foreclosure cases across Florida in jeopardy. Namely, in all foreclosure cases in which a borrower is deceased, unless the legal...more

Sheppard Mullin Richter & Hampton LLP

Third Circuit Ruling Gives CFPB Green Light to Enforce Against Student Loan Trusts

In a significant ruling on March 19, the Third Circuit Court of Appeals held that the CFPB can proceed with its lawsuit against a group of Delaware student loan trusts rejecting their claims that they are just passive...more

Health Care Compliance Association (HCCA)

CARES Act appeals: Key steps in addressing denials and repayments

With the onset of the COVID-19 pandemic, Congress initiated several programs to help businesses weather the difficult economic conditions. The Coronavirus Aid, Relief, and Economic Security (CARES) Act provided two of these...more

King & Spalding

Second Circuit Finds No Waiver of Usury Defense in Breach of Loan Agreement Case

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On September 6, 2023, the U.S. Court of Appeals for the Second Circuit vacated and remanded a district court’s decision rejecting borrower defendants’ usury defense on grounds of waiver and collateral estoppel. The lender,...more

ArentFox Schiff

Non-Recourse Carve-Outs: Borrower and Guarantor Considerations

ArentFox Schiff on

The Federal Reserve's most recent Financial Stability Report addressed what many industry watchers had been convinced of for some time: the commercial real estate sector is in a precarious state. The Federal Reserve Bank...more

Husch Blackwell LLP

Federal Appeals Court Blocks Department of Education's New Borrower Defense to Repayment Rules

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On Monday, the U.S. Court of Appeals for the Fifth Circuit issued a nationwide injunction blocking the U.S. Department of Education (ED) from implementing its new borrower defense to repayment (BDR) rules. The BDR rules,...more

Troutman Pepper

NY Court of Appeals Clarifies 90-Day Foreclosure Notice Issues In New York

Troutman Pepper on

On February 14, 2023, the New York Court of Appeals overturned the Appellate Division, Second Department’s Kessler decision, which had applied a strict application of Real Property Actions and Proceedings Law § 1304, also...more

McDermott Will & Emery

PPP Loan Appeals, SBA Clawbacks and More: What You Need to Know

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Last year, we published an article titled “What to Do if Your PPP Forgiveness Application Is Denied.” Today, we share some insights into the Paycheck Protection Program (PPP) and appeals process based on our representation of...more

Perkins Coie

The Foreclosure Abuse Prevention Act is Now Law

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On December 30, 2022, New York Governor Kathy Hochul signed into law the Foreclosure Abuse Prevention Act (FAPA) after the bill’s passage by both the New York state senate and the assembly. FAPA is a direct response to a New...more

Sheppard Mullin Richter & Hampton LLP

4th Circuit: Borrower Must Return Loan Proceeds After Rescission Despite Lender’s Failure to Meet TILA Requirements

Recently, the United States Court of Appeals for the 4th Circuit held that a mortgage servicer’s failure to provide a required disclosure informing borrowers of their three-day right to rescind the loan under the Truth in...more

Perkins Coie

Copper Creek Confirms That Bankruptcy Discharges Have No Effect on the Statute of Limitations in Washington State

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As we previously noted, the statute of limitations on actions to enforce a note or deed of trust can be a brutally effective sword for borrowers in Washington State. Under the six-year limitations period of RCW 7.28.300, a...more

McDermott Will & Emery

What to Do if Your PPP Forgiveness Application Is Denied

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The Small Business Administration’s (SBA) public data indicates that more than 98% of the total Paycheck Protection Program (PPP) loan value requested to be forgiven by borrowers has been forgiven by the SBA (approximately...more

Bradley Arant Boult Cummings LLP

PPP Appeal Process Overview

In 2022, there will inevitably be an uptick in the number of appeals of Small Business Administration (SBA) loan decisions in the Paycheck Protection Program (PPP) context. This is due simply to the passage of time, to the...more

Schwabe, Williamson & Wyatt PC

What to Know About PPP Appeals and Next Steps - After the Economic Aid Act: An Updated Guide to the PPP Loan Forgiveness Review...

Update: On September 16, 2021, the Final Rule on Borrower Appeals of Final SBA Loan Review Decisions was posted and became effective on September 14, 2021 (the “Final Rule”). The Final Rule applies to all appealable final SBA...more

Schwabe, Williamson & Wyatt PC

What to Know about PPP Appeals and Next Steps

Update: On July 28, 2021, an Interim Final Rule on COVID-19 Revenue Reduction Score, Direct Borrower Forgiveness Process, and Appeals Deferment was posted. That Interim Final Rule conforms the applicable PPP rules to provide...more

Goodwin

Biden Administration Issues Regulatory Freeze On New Agency Rules

Goodwin on

In this Issue. In one of its first acts after being installed on January 20, the Biden Administration issued a regulatory freeze on new agency rules that have been adopted but are not yet effective; in one of its final acts...more

Schwabe, Williamson & Wyatt PC

Updated Key Considerations for PPP Documentation under the Economic Aid Act

Borrowers under the Small Business Administration’s (the “SBA”) Paycheck Protection Program (“PPP”) are required to either maintain or submit to lenders and the SBA certain documentation associated with their application for...more

Schwabe, Williamson & Wyatt PC

What to Know about PPP Appeals and Next Steps - After the Economic Aid Act: An Updated Guide to the PPP Loan Forgiveness Review...

With recent updates to the Paycheck Protection Program (“PPP”) due to the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “Economic Aid Act” or “PPP2 Act”), new forgiveness application forms, and...more

Schwabe, Williamson & Wyatt PC

Key Considerations for PPP Documentation - Update #4

Borrowers under the Small Business Administration’s (“SBA”) Paycheck Protection Program (“PPP”) are required to either maintain or submit to lenders and the SBA certain documentation associated with their application for and...more

McGlinchey Stafford

Is my conduct a violation of the Consumer Sales Practices Act?

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The Bullet Point: Ohio Commercial Law Bulletin Is my conduct a violation of the Consumer Sales Practices Act? Volume 4, Issue 18 October 2, 2020 Unconscionable arbitration agreement Klonowski v. Lynch, 8th Dist. Cuyahoga...more

Rosenberg Martin Greenberg LLP

Pennsylvania Supreme Court Clarifies Applicability of Act 6 To Residential Mortgage Foreclosures (Sort Of)

When the loan documents provide for confession of judgment and the collateral encumbered by the mortgage securing the loan is commercial real property, the foreclosure process in Pennsylvania is straightforward.  The lender...more

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