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Statute of Limitations › Mortgages › Department of Housing and Urban Development

Statute of Limitations refers to a statute that sets the time period during which a legal claim can be brought. Most statute of limitations laws require individuals to sue at some point during a set period... more +
Statute of Limitations refers to a statute that sets the time period during which a legal claim can be brought. Most statute of limitations laws require individuals to sue at some point during a set period usually commencing from the date of the wrong or injury or the discovery of the wrong or injury. Except for under a limited set of circumstances, if an individual does not file a suit within the specified time period, the law bars them from ever suing on that claim. less -
Cadwalader, Wickersham & Taft LLP

Stay Just a Little Bit Longer: Not Jackson Browne but the Statute of Limitations

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The Second Department recently held  in Trento 67, LLC v. OneWest Bank, N.A., et. al  that the FHA COVID-19 moratorium constituted a stay of foreclosures for federally-backed mortgages, and thus tolled the statute of...more

Hinshaw & Culbertson - Consumer Crossroads

Second Circuit Finds HUD Assignees Immune from State Statute of Limitations Claims

Hinshaw & Culbertson - Consumer Crossroads on

The mortgage foreclosure world continues to experience change at a moment's notice. Lenders continue to defend against borrower actions seeking to discharge their mortgages as time-barred, which in turn has led to the...more

McGlinchey Stafford

What Do I Need To Prove In Order To Enforce A Promissory Note?

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Statute of Repose- Wilson v. Durrani, Slip Opinion No. 2020-Ohio-6827 In this appeal, the Supreme Court of Ohio reversed the lower court’s decision, determining that the plaintiffs’ claims were time-barred because Ohio’s...more

Seyfarth Shaw LLP

FHFA and GSEs Issue Guidance on Assistance to Renters and Borrowers Impacted by COVID-19

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On March 24, 2020, in response to the growing anticipation that renters in multifamily properties are being negatively impacted by the implications of the Coronavirus Disease 2019 (“COVID-19”), the Federal Housing Finance...more

Akerman LLP

Foreclosure Holds Impacting Statute Of Limitations

Akerman LLP on

The COVID-19 crisis has led to foreclosure moratoriums at the regulatory, executive, and judicial level. Servicers should consider that compliance with these, regardless of level, may not protect them from later challenges to...more

Burr & Forman

Fall 2017 Consumer Financial Protection Bureau Update

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The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) is a U.S. government agency created by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The CFPB is the first federal agency tasked solely with the...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Weeks Ending September 22 & 29, 2017

Carlton Fields on

REAL PROPERTY UPDATE - - Constructive Notice: a memorandum of agreement that is recorded in the official records of the county in which the property is located and refers to an unrecorded agreement entered into by the...more

Morrison & Foerster LLP

Ten Questions and Nine Answers about PHH and the Future of the CFPB Director

Morrison & Foerster LLP on

The potentially explosive combination of the D.C. Circuit’s October decision in PHH v. CFPB and the outcome of the presidential election has spurred a host of questions about how the PHH litigation may proceed and about the...more

Hinshaw & Culbertson LLP

Consumer Financial Services Newsletter - November 2016

Hinshaw & Culbertson LLP on

D.C. Circuit Delivers First Blow to CFPB, Trump Win Delivers Second - The future of the Consumer Financial Protection Bureau (CFPB) is up for grabs following a landmark Court of Appeals Decision, PHH Corporation v....more

Ballard Spahr LLP

What the PHH decision means for the CFPB’s UDAAP authority

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In addition to its implications for CFPB rulemaking, the D.C. Circuit’s decision in PHH Corporation v. CFPB has significant implications for the CFPB’s authority to enforce federal consumer financial protection laws as well...more

Carlton Fields

Structure Of CFPB Found To Be Unconstitutional But Agency Survives With Cut To Director’s Power

Carlton Fields on

The DC Circuit Court of Appeals recently held that the single-director structure of the Consumer Financial Protection Bureau (“CFPB”) was unconstitutional, and gave the President the authority to fire the director at will in...more

BakerHostetler

D.C. Circuit Holds CFPB Unconstitutionally Structured' and Overturns PHH Penalty

BakerHostetler on

Last week, the U.S. Court of Appeals for the D.C. Circuit issued its much-anticipated decision in PHH Corp. v. CFPB, No. 15-1177 (D.C. Cir., Oct. 11, 2016). In its 110-page decision, the three-judge panel deemed the Consumer...more

Ballard Spahr LLP

CFPB Deputy Enforcement Director mum on whether CFPB will seek further review of PHH decision

Ballard Spahr LLP on

During the “Developments at the CFPB” panel this morning at the Pennsylvania Bar Institute Consumer Financial Services & Banking Law Update program in Philadelphia, Jeffrey Ehrlich, the CFPB’s Deputy Enforcement Director,...more

Ballard Spahr LLP

What the D.C. Circuit’s PHH decision means for CFPB rulemaking

Ballard Spahr LLP on

In its decision last week in PHH Corporation v. CFPB, the D.C. Circuit ruled that the CFPB’s single-director-removable-only-for-cause structure is unconstitutional. While the D.C. Circuit (in footnote 19) noted that it “need...more

Burr & Forman

D.C. Circuit Holds Structure of CFPB Unconstitutional, Vacates $109 Million Fine Arising out of Mortgage Lender’s “Captive...

Burr & Forman on

On Tuesday the D.C. Circuit Court of Appeals issued what is already being touted as a landmark ruling in PHH Corp. v. Consumer Financial Protection Bureau, No. 15-1177, 2016 WL 5898801 (D.C. Cir. Oct. 11, 2016), holding in a...more

Morrison & Foerster LLP

CFPB Hit by Major Setback in D.C. Circuit

Morrison & Foerster LLP on

In a decision eagerly awaited by the financial services industry, the D.C. Circuit this week handed the Consumer Financial Protection Bureau (CFPB) a major defeat, throwing out a mortgage lender’s $109 million disgorgement...more

King & Spalding

D.C. Circuit Rules CFPB’s Structure Unconstitutional

King & Spalding on

In a news-making decision with significant political implications, but probably limited near-term business or legal effects, the United States Court of Appeals for the District of Columbia Circuit held on Tuesday, October 11,...more

Cadwalader, Wickersham & Taft LLP

D.C. Circuit Brings CFPB under Presidential Control

Cadwalader, Wickersham & Taft LLP on

On October 11, 2016, the United States Court of Appeals for the D.C. Circuit issued its long-awaited opinion in PHH Corp. v. Consumer Financial Protection Bureau, in which the Court held that the structure of the Consumer...more

Buchalter

Leadership Structure of CFPB Ruled Unconstitutional

Buchalter on

The United States Court of Appeals for the District of Columbia Circuit issued its ruling in PHH Corporation v. Consumer Financial Protection Bureau on Tuesday and determined that the single-director structure of the CFPB...more

Kilpatrick

Key Consumer Finance Takeaways from the DC Circuit’s PHH Decision

Kilpatrick on

On October 11, 2016, the United States Court of Appeals for the District of Columbia Circuit issued a highly-anticipated decision in PHH Corporation, et al., v. Consumer Financial Protection Bureau that has far reaching...more

Carlton Fields

A Truckload of Trouble for the CFPB

Carlton Fields on

Within days after the Consumer Financial Protection Bureau started operations, a truckload of boxes from the Department of Housing and Urban Development arrived at the CFPB Office of Enforcement. The boxes held evidence from...more

Ballard Spahr LLP

D.C. Circuit Holds CFPB Structure Unconstitutional, Interpretation of RESPA Not Entitled to Deference

Ballard Spahr LLP on

The D.C. Circuit yesterday issued its long-awaited decision in PHH Corporation v. CFPB. In reversing the decision of Consumer Financial Protection Bureau (CFPB) Director Cordray to impose an enhanced penalty of $109 million...more

Baker Donelson

CFPB's Structure Declared Unconstitutional – What You Need to Know

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The CFPB suffered a blow yesterday in the most significant attack against its authority to date. In PHH Mortgage's appeal from a $109,000,000 disgorgement order issued by the CFPB in June of 2015, the U.S. Court of Appeals...more

Orrick, Herrington & Sutcliffe LLP

DC Circuit Strikes Down CFPB Leadership Structure

Orrick, Herrington & Sutcliffe LLP on

On October 11, 2016 the D.C. Circuit in PHH Corporation v. CFPB, No. 15-1177, struck down the Consumer Financial Protection Bureau's (CFPB) leadership structure as unconstitutional. In short, the court ruled that Congress...more

Troutman Pepper

Federal Appeals Court Finds CFPB's Structure Unconstitutional

Troutman Pepper on

While certainly a big blow to the Bureau, the court’s remedy did not go as far as some CFPB opponents would have liked. In a blockbuster ruling on October 11, the U.S. Court of Appeals for the District of Columbia...more

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