Primary Sources

NCLC Issue Brief addressing:

• The Problem of Zombie Second Mortgages and the Need for Action
• Suggested Statutory Language to Address Zombie Second Mortgage Problems
  
  Proposing safeguards to ensure that holders of second mortgages are providing proper notice and documentation before being allowed to foreclose and protections preventing unfair foreclosure of long-dormant second mortgages as well as older second mortgages taken as home equity lines of credit. 

This is a September 26, 2024 assurance of discontinuance brought by the Massachusetts Attorney General in state superior court against Franklin Credit Management for its zombie second mortgage practices.  The state alleged violation of state law by Franklin improperly attempting after many years to collect on second mortgages after failing to communicate with borrowers or provide required statements, as well as failing to comply with state foreclosure-prevention measures and collecting on time-barred debt.

This chart summarizes the mortgage servicing rules in effect as of April 19, 2018 and is not a substitute for the rules. Only the rules and the Official Interpretations can provide complete and definitive information regarding their requirements. The complete rules, including the Official Interpretations and small entity compliance guide, are available at www.consumerfinance.gov/policy-compliance/guidance/implementation-guidance/mortserv.

This is a 2023 Amicus Brief before the Second Circuit in Olivieri v Stifel, Nicholas & Co arguing that the plain language of a Servicemembers Civil Relief Act (SCRA) amendment requires that class actions alleging SCRA violations be able to proceed in court despite an arbitration requirement or class action waiver.  The amicus brief was submitted by Public Justice, the  American Association for Justice, and the New York Chapter of the National Employment Law Association in support of the plaintiff/appellee.

The Fair Debt Collection Practices Act (FDCPA) is a federal consumer financial protection law that aims to protect consumers from a host of harmful debt-collection practices. As relevant here, the Act prohibits debt collectors from collecting any amount unless the amount is expressly authorized by the agreement that created the debt or permitted by law.

This notice amends the Telemarketing Sales Rule by updating the fees charged to entities accessing the National Do Not Call Registry, effective October 1, 2018.
 

The information collection requirements described in the notice will be submitted to the Office of Management and Budget for review, as required by the Paperwork Reduction Act. The FTC is seeking public comments on its proposal to extend for an additional three years the current PRA clearance for information collection requirements in its Telemarketing Sales Rule.
 

The information collection requirements in the notice will be submitted to the Office of Management and Budget for review, as required by the Paperwork Reduction Act. The FTC is seeking public comments on its proposal to extend for an additional three years the current clearance for information collection requirements in its Telemarketing Sales Rule.
 

This notice amends the Telemarketing Sales Rule by updating the fees charged to entities accessing the National Do Not Call Registry, effective October 1, 2016.