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Fair Debt Collection Practices Act Loan Servicer Loan Servicing

Goodwin

CFPB Permanently Bans Large Student Loan Servicer from Market and Orders Redress of $120 Million

Goodwin on

On September 12, 2024, the CFPB announced that it entered into a stipulated proposed order with a large student loan servicer resolving allegations that the servicer forced borrowers into costly repayment options.​ Under the...more

Alston & Bird

District Courts Split on Convenience Fees Under Debt Collection Laws

Alston & Bird on

A&B ABstract: In a number of recent decisions, district courts have split on the issue of whether a mortgage servicer violates the Fair Debt Collection Practices Act (“FDCPA”) and related state debt collection statutes by...more

Goodwin

Servicers Beware: RESPA Transfer of Servicing Letter May Trigger FDCPA Initial Debtor Communication Disclosure Requirement

Goodwin on

In Hart v. FCI Lender Services, Inc., the Second Circuit made it clear that servicers should pay close attention to initial communications with borrowers upon commencing loan servicing when it determined in an August 12, 2015...more

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