Alerts

A recent decision out of the District of Kansas highlights the dangers mortgage lenders face when failing to file the appropriate Notice of Mortgage Payment Change and/or failing to respond to a chapter 13 trustee's Notice of Final Cure.

The New Jersey Courts have recently made two substantial changes over recent months which will directly impact Weltman's clients and how cases proceed in the New Jersey court system. The first change is an update to the jurisdictional limits of the Civil Division.

In Community Financial Services Association of America and Consumer Services Alliance of Texas v. Consumer Financial Protection Bureau, the 5th Circuit Court of Appeals held that the Consumer Financial Protection Bureau's (CFPB) funding mechanism is unconstitutional.

On August 11, 2022, the Eighth District Court of Appeals in Shaker House LLC v. Christopher Daniel ruled that landlords do not need to comply with the Cleveland Municipal Courts Housing Divisions Local Rule 3.015 to obtain an eviction.

On April 1, 2022, the value of property exempt from execution, garnishment, attachment, or sale under Ohio Revised Code 2329.66 increased. This is done every three years with the intention to increase alongside the cost of living.

If passed, the new law would create an entirely new subsection under Chapter 286 of the Kentucky Revised Statutes that would require student loan servicers who operate in Kentucky to be licensed through the Department of Financial Institutions.

On March 27, 2020, The Coronavirus Aid, Relief, and Economic Act (CARES Act) was signed in response to the economic downturn in the United States from the COVID-19 pandemic. The CARES Act had a number of temporary bankruptcy provisions with a specific sunset date as to when the provisions would expire.

The United States Supreme Court and United States Congress have amended Federal Rule of Bankruptcy Procedure 9036 to require certain recipients of paper bankruptcy notices to switch to electronic noticing effective December 1, 2021.

The CFPB issued its final rule seeking to prevent avoidable foreclosures through the end of 2021 by assisting mortgage borrowers affected by the COVID-19 emergency.

The CDC and GSE's, under pressure from the House Financial Services Committee, have announced that they will extend the foreclosure and eviction moratorium one last time through July 31, 2021, to permit the CFPB to finalize and implement its pandemic recovery mortgage servicing rules.