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Prepare to Be Licensed California Enacts a Law to License Debt Collectors, But Much Needs to Be Done to Clarify the Licensing Obligations | Miles & Stockbridge P C

To embed, copy and paste the code into your website or blog: Every so often, the extent of state laws providing for the licensing of collection agencies needs to be re-examined. As every state, including two of the most prominent states, California and New York, historically had not licensed collection agencies, 1 the state licensing of collection agencies has not been given as much attention as has been given to the state licensing of other consumer finance activities. This changed in September 2020, when the California legislature, shortly before adjournment, enacted Senate Bill 908 to license debt collectors under a new law called the Debt Collection Licensing Act (the “DCLA”).

Mortgage Service Co Inks $7M Deal To End Class Action

ADVERTISEMENT Mortgage Service Co. Inks $7M Deal To End Class Action Law360 (December 18, 2020, 9:31 PM EST) A group of homeowners have asked a North Carolina federal judge to approve a $7 million settlement with a mortgage servicing platform to end yearslong litigation brought in a dozen states over alleged violations of the Fair Debt Collection Practices Act. The 29 plaintiffs sought class certification on Thursday for more than 46,000 residential mortgagors across the country who, between September 2012 and February 2019, received a default warning letter from Seterus Inc. threatening to accelerate their loans or foreclose on their homes unless debts were immediately paid. If the unopposed settlement is approved as proposed, most class members will receive.

CFPB finalizes disclosure requirements for debt collectors

CFPB finalizes disclosure requirements for debt collectors
americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.

Portland family s path to red house foreclosure was long, filled with bizarre twists

Portland family’s path to ‘red house’ foreclosure was long, filled with bizarre twists Updated Dec 15, 2020; With protesters’ occupation of the North Portland neighborhood around the so-called “Red House on Mississippi” rounding its fourth day, it remains unclear if there is a peaceful path to resolving a conflict that started two years ago, when a mixed-race family’s long-time home was foreclosed on by their lender, leading law enforcement to try to remove them on Tuesday. The Kinney family and their supporters have cast the fight as a continuation of the long saga of gentrification, discrimination and predatory subprime lending that has gutted Portland’s historically Black neighborhoods and replaced them with yuppified apartments and condos.

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