The United States Court of Appeals for the Fifth Circuit recently analyzed the Texas Debt Collection Act ("TDCA") and reached a conclusion relating to claims under the TDCA that is significant for lenders and mortgage servicers. The court ruled that […]
The Law Of Banking
More than half of all banking customers conduct their banking on their smartphone because it is quick, easy and convenient. And it’s no wonder why this number is so great: smartphones are increasingly being integrated into the lives of many Americans […]
Are Your Customers Complaining? CFPB Publishes Complaint Narratives About Financial Products And Services.
The Consumer Financial Protection Bureau ("CFPB") has a new complaints database. In accordance with its Financial Policy Statement issued on March 19, 2015, the CFPB has started publishing consumer complaint narratives. There are currently over 8 […]
At the end of January, federal regulators strongly encouraged small community banks across the country to take measures to bolster their cybersecurity, and specifically asked that community banks take care to monitor the activities of vendors that handle […]
It is completely understandable to feel a sense of anxiety when you hear the words “cybersecurity breach” and “bank” in the same sentence. What reasonable person wouldn’t be concerned? You put your hard earned money into […]
As previously noted in this blog, in PlainsCapital Bank v. Martin, No. 13-0337, 2015 WL 1477904 (Tex. March 27, 2015), the Texas Supreme Court ruled that lenders can use a sales price received subsequent to a foreclosure sale, as well as their carry […]
Lender Beware: Loan renewal may cause lender's security interest in collateral to be subordinated to judgment creditor's lien.
Loans are renewed for a number of reasons. But when a borrower has an outstanding judgment lien, lenders must be sure that any renewal does not constitute an advance under the Texas Business & Commerce Code that will subordinate the lender's security […]
Reach Of Fair Debt Collection Practices Act Expanded To Formal Foreclosure Pleadings In Recent Third Circuit Decision.
In Kaymark v. Bank of America, No. 14-1816 (3d Cir. April 7, 2015), the Third Circuit held that a borrower can state a claim for violation of the Fair Debt Collection Practices Act ("FDCPA") when a foreclosing lender alleges incorrect fees as part of […]
For Banks, the availability of the new .bank extension presents a new and exciting opportunity. It is intended to be a trustworthy name only for qualifying financial institutions. This will allow the public to know they are dealing with a legitimate […]
Deficiency Calculations: Fair Market Value At Foreclosure Can Be Based On Post-Foreclosure Sale Price.
Section 51.003 of the Texas Property Code provides that when a foreclosure sale results in a deficiency, any person against whom recovery is sought may request that the court in which a deficiency lawsuit is pending determine the fair market value of […]
The media has been aflutter over the past few months about the importance of basic protective measures that technology users should implement on their electronic devices. Recent headlines have revealed serious invasions of privacy—including leaked […]
Inclusion in Loan Documents of Waiver of the Post-Foreclosure Deficiency Offset Provision Under Texas Property Code § 51.003
When foreclosing on property pledged as collateral for a loan, many banks have a practice of submitting a credit bid that is substantially less than the fair market value of the property. These bids are often calculated based on a fixed percentage of […]