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Federal Deception Law: 6.3.4.3.3 Legislative history and the purpose of the TCPA’s autodialer restriction

Callers might object to this interpretation on the basis that the Facebook decision refers to the sequential number generator portion of the ATDS definition as targeted toward equipment that ties up multiple lines of a business simultaneously,210 which might imply that a device is an ATDS only if it produces consecutive telephone numbers. However, the Court never represented this concern as the only problem that the restrictions on autodialers were intended to address.

Mortgage Servicing and Loan Modifications: 8.2.1 Overview

The National Housing Act requires lenders to engage in loss mitigation upon the default or imminent default of an FHA-insured mortgage.5 While the Department of Housing and Urban Development (HUD) does not guarantee an alternative for foreclosure for every FHA-insured borrower, lenders must review all loans for possible alternatives to foreclosure.6 A lender may proceed to foreclosure only after ensuring that it has met all of its servicing obligations and the loan is at least three months past due.

Mortgage Servicing and Loan Modifications: 8.2.2.1 Generally

FHA’s loss mitigation program has evolved dramatically, both in terms of the available options and the eligibility rules. Advocates will continue to represent borrowers who have been denied under former rules or who have defaulted on loan modifications made through poorly designed and obsolete programs. In litigation, lender attorneys routinely mention borrowers’ past failures in order to excuse their clients’ noncompliance.

Mortgage Servicing and Loan Modifications: 8.2.2.2 The Role of HUD’s Single Family Housing Policy Handbook

In order to address this confusion and provide a clear source for its guidance, in 2014, HUD began drafting its Single Family Housing Policy Handbook, which included a section on default servicing.24 HUD intended the handbook to consolidate previous policy and provide a comprehensive guide. However, HUD’s initial draft on default servicing left off important, previously issued HUD guidance and did not address common issues that arise in the default servicing process, which other loss mitigation protocols cover.

Mortgage Servicing and Loan Modifications: 8.2.3.4 FHA-HAMP Calculation Examples

The best way to illustrate the FHA-HAMP calculation is through examples. Below are three examples that are variations on an initial fact pattern stated up front. For each example, assume that the waterfall directs the borrower to FHA-HAMP and that all other eligibility requirements (owner-occupied, hardship, origination, among other things) are satisfied. Assume also that the borrower has never received a previous loan modification or partial claim.

Mortgage Servicing and Loan Modifications: 8.2.6 Refinance Programs

Streamlined Refinance: The discussion above focused on options for borrowers in default. Borrowers who are current on an existing FHA-insured loan may be able to refinance with a new FHA-insured loan and reduce monthly payments through the streamline refinance option.242 The new FHA-insured loan may be made by the original lender or a different lender who participates in the FHA insurance program.

Mortgage Lending: OREGON

In Oregon a contract for deed may only be terminated after a notice of default with a specified right-to-cure period has been served upon the buyer and recorded in the deed records. If the buyer has paid the unpaid balance down to an amount greater than seventy-five percent of the purchase price, a sixty-day cure period must be provided. If the balance has been paid down to between fifty and seventy-five percent of the purchase price, a ninety-day cure period must be provided.

Mortgage Lending: PENNSYLVANIA

Pennsylvania’s land installment contract statute only applies, according to its definitions, to contracts in “any city of the first class or county of the second class,” limiting its applicability to Philadelphia and Pittsburgh. The statute requires thirty-day notice prior to termination of the land contract for non-payment and sixty-day notice prior to termination for failure to make repairs.

Mortgage Lending: TEXAS

Texas has updated its land contract law a number of times over the past twenty to thirty years in an attempt to effectively address perceived problems with these transactions.

Mortgage Lending: VIRGINIA

Under Virginia law, passed in 2019, all executory contracts, including land installment contracts and lease-option contracts, are treated as rental agreements subject to the Virginia Residential Landlord and Tenant Act.119 Because landlord-tenant law applies, the seller generally has the obligation to maintain the premises in a fit condition; however, the law allows the parties to agree in writing that the tenant will perform “specified repairs, maintenance tasks, alterations, and remodeling, but only if the transaction is entered into in goo

Mortgage Lending: WASHINGTON

Washington’s land contract statute is similar to Oregon’s law in many respects. In large part the statute consists of regulating the method of non-judicial forfeiture—the required recordation and service of a notice of intent to declare a forfeiture, with a ninety-day (or longer if the contract so provides) right to cure.122 The statute specifically provides that the seller may, in the alternative, decide to foreclose judicially.

Mortgage Lending: 9.6.1 Generally

There are a number of different factors affecting the maximum interest rate a lender may charge on a mortgage loan. Certain loan programs, at the state or federal level, may have specific rules.

Mortgage Lending: 9.2.2 State Opt-Out of FHA and VA Loan Preemption

States may opt out of the preemption of state law for FHA and VA insured loans. A state can opt out of FHA preemption by enacting a statute after December 21, 1979, that limits interest, points, or other charges for such loans.35 The opt-out applies to loans extended after the state statute’s enactment. But one court has held that this opt-out relates to the FHA cap on interest rates and not to the FHA definition of interest.36

Mortgage Lending: 9.2.3 Relationship of FHA and VA Preemption to DIDA Preemption of Manufactured-Home Loans

The removal of state interest ceilings on manufactured-home loans insured by the FHA and VA intersects with the manufactured home provisions of the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDA).45 DIDA preempts interest rate ceilings on first lien manufactured-home loans only on the condition that the manufactured-home lenders comply with federal banking agency consumer protection regulations.46 However the Eleventh Circuit, in Doyle v.