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