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Alerts

Alerts / 25 January 2021

2021 Consolidated Appropriations Act Places Limitations on Preference Demands

The Consolidated Appropriations Act of 2021 (CAA), recently signed into law on December 27, 2020, was primarily designed to extend several provisions of the CARES Act.
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Alerts / 19 January 2021

Weltman Monitoring Congressional Proposal to Amend the Bankruptcy Code

On December 9th, Senator Elizabeth Warren (D-MA) introduced the first major consumer bankruptcy reform legislation before Congress since 2005. The Consumer Bankruptcy Reform Act of 2020 (CBRA), if passed, would fundamentally alter the bankruptcy system as we know it.
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Alerts / 18 January 2021

FHFA Extends Some COVID-Related Loan Flexibilities, But Not Foreclosure Moratorium (Yet)

On January 14, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac will extend some loan origination flexibilities until February 28, 2021.
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Alerts / 5 January 2021

The Supreme Court of Ohio Upholds the Validity of Statutory Language in Cognovit Notes

In Sutton Bank v. Progressive Polymers, LLC et al., 2020 Ohio 5101, the court reversed a decision from the Eleventh District Court of Appeals and held that a cognovits note provision was not defective.
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Alerts / 22 December 2020

Foreclosure and Eviction Moratoriums on FHA-Insured Single-Family Mortgages Extended Through February 28, 2021

The U.S. Department of Housing and Urban Development issued its Mortgagee Letter 2020-43, announcing an extension through February 28, 2021, of its foreclosure and eviction moratorium in connection with the COVID-19 emergency.
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Alerts / 7 December 2020

Fannie Mae and Freddie Mac Foreclosure and REO Eviction Moratoriums Extended Through January 31, 2021

The Federal Housing Finance Agency (FHFA) has announced that the moratoriums on Fannie Mae or Freddie Mac single-family foreclosures and real estate owned (REO) evictions are extended until at least January 31, 2021.
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Alerts / 10 November 2020

Bankruptcy Court Fees Increase Effective December 1, 2020

At its March 2020 session, the Judicial Conference of the United States approved inflationary adjustments to certain fees, including some on the bankruptcy court miscellaneous fee schedules.
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Alerts / 28 October 2020

Eviction Updates for the State of Michigan

On October 22, 2020, the Michigan Supreme Court issued Administrative Order 2020-17 addressing the status of eviction cases.
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Alerts / 21 October 2020

A New CFPB Consent Order Will Impact Repossessions and Payment Processing

On October 13, 2020, the Consumer Financial Protection Bureau, (CFPB), issued a Consent Order against an auto lender that will affect how repossessions and payment processing are handled in the future.
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Alerts / 1 October 2020

Now in Effect in the Southern District of Ohio: Mortgage Modification Mediation Program

The United States Bankruptcy Court for the Southern District of Ohio adopted a Mortgage Modification Mediation Program (MMM Program), effective October 1, 2020. The goal of the program is to encourage debtors and creditors to reach a consensual resolution.
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