Monthly Archives: June 2015

Consumer Financial Services Conference Slated for Nov. 19-20 in Chicago

June 29, 2015 — The Annual Consumer Financial Services Conference organized by The Conference on Consumer Finance Law, and co-sponsored by the Loyola University Chicago School of Law, Maurice Wutscher and other law firms, will be held Nov. 19-20, in Chicago.

The conference will include presentations by some 45 of the best and brightest speakers and practitioners in the country, on the following topics:

  • TCPA: The New FCC Order
  • Fair Lending and HMDA
  • CFPB Administrative Appeals
  • Arbitration Developments
  • UDAAP
  • Cybersecurity
  • CFPB Regulation of Non-Bank Auto Finance
  • TRID: Issues and Implementation
  • Flood and Lender-Placed Insurance
  • Mortgage Servicing and Bankruptcy
  • State Regulation of Debt Collection/Debt Buyers
  • Credit Reporting and Bankruptcy
  • The Madden Case and Debt Sales
  • CFPB Regulation Through Enforcement Actions
  • Ethics and Professional Responsibility

Twelve CLE credits will be provided, including one hour of Ethics. The fee is $495 for those registering before Sept. 18. To view the conference brochure, click here.

Webinar to Explore FDCPA and Estimates of Mortgage Lenders’ Costs

June 24, 2015 — Maurice Wutscher will give a webinar on July 9, exploring the FDCPA and estimates of mortgage lenders’ costs.

Providing statements of the amount due, or of the amount required to cure a default – such as in Notices of Intention to Foreclose, periodic statements, and the like — has become risky for mortgage servicers under a recent ruling from the U.S. Court of Appeals for the Third Circuit.

The ruling, Kaymark v. Bank of America, involved a foreclosure complaint, which included projected fees and costs that had not yet been incurred at the time the complaint was filed. Ultimately the costs were incurred, but the court found that the foreclosure complaint’s inclusion of the projected fees and costs in the amounts due stated a claim for violation of the federal Fair Debt Collection Practices Act (FDCPA).

Kaymark likely impacts what a mortgage servicer can include in periodic statements, Notices of Intent to Foreclose, and other disclosures of amounts due or amounts required to cure a default, at least in the Third Circuit (Delaware, New Jersey, Pennsylvania and the Virgin Islands).

For more information and to register, click here.