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Default Financial Institutions Borrowers

Awatif Mohammad Shoqi Advocates & Legal...

Can Banks Deduct Money from End-of-Service Benefits to Cover Default Payments on a Personal Loan in the UAE?

In the UAE, Bank Loans Offered to Individual Customers are governed by Regulation No. 29/2011 Regarding Bank Loans & Other Services Offered to Individual Customers. Additionally, the Central Bank of the UAE issued Central...more

Lippes Mathias LLP

The Rise and Fall of the Paycheck Protection Program

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The Long-Term Effects Felt by Lenders Nationwide. As a result of the United States government instituting the Paycheck Protection Program (“PPP”), companies nationwide have defaulted on hundreds of thousands of PPP loans,...more

Williams Mullen

Williams Mullen's COVID-19 Comeback Plan: Part I - How Banks Think About Loan Defaults: Lessons for Borrowers in Troubled Times

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In this first installment of our video series aimed at helping borrowers in uncertain times, Matt Cheek, chair of Williams Mullen’s Financial Services Industry Group, and Mike Mueller, chair of our Restructuring, Bankruptcy...more

Cohen & Gresser LLP

COVID-19: Will Borrower Defaults Increase?

Cohen & Gresser LLP on

On 11 March 2020, the Bank of England (the “Bank”) warned of “an economic shock that could prove sharp and large” resulting from the coronavirus outbreak that started in Wuhan, China, at the end of 2019. Presenting a package...more

Blank Rome LLP

Does the Word 'Will' Clearly Accelerate a NY Mortgage Debt?

Blank Rome LLP on

Mortgage servicers and other financial institutions have been battling the issue of what affirmative act “clearly and unequivocally” accelerates a mortgage debt for years. Currently, there is a split in authority between the...more

Baker Donelson

Avoiding a Limitations Fight by Rescinding Acceleration

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Texas recently added a new statute aimed at providing lienholders and loan servicers an unambiguous method for unilaterally abandoning the acceleration of a loan's maturity. When a borrower defaults in paying an...more

Baker Donelson

New Case Poses Threat to Mortgage Servicers in Bankruptcies

Baker Donelson on

A new decision from the U.S. Court of Appeals for the Ninth Circuit poses a serious threat to mortgage companies that service mortgages of chapter 13 debtors. Mortgage servicers should be aware of the case's implications and...more

Carlton Fields

CFPB Issues Statement Following Reports of Widespread Student Loan Servicing Failures

Carlton Fields on

The Consumer Financial Protection Bureau (CFPB) recently focused its attention on the student loan industry following alleged widespread servicing failures reported by borrowers and found by the CFPB's examinations and...more

Burr & Forman

Federal Courts Rejecting Hyper-Technical Claims on Reg X Notice of Error/Request for Information Provisions

Burr & Forman on

In Russell v. Nationstar Mortgage, LLC, No. 14-61977-CIV, 2015 WL 5029346, at *5 (S.D. Fla. Aug. 26, 2015), United States District Court Judge Beth Bloom issued litigious borrowers their latest setback in a large scale...more

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