Into the Void: Repealing HB 4204 and HB 2009

by Erich Paetsch, Chair, Financial Services Industry Group At the outset of the Covid-19 pandemic, public health measures designed to save lives also dramatically impacted the economy. Concerned about the unprecedented economic impact of public health measures, Oregon’s legislature rapidly created laws with limited public input intending to blunt the economic impacts of public health

Oregon Temporarily Halts Certain Residential Evictions in the Fight Against COVID-19

By Joshua D. Feil, Attorney in the Litigation Practice Group On March 22, 2020, and in response to the COVID-19 pandemic, Oregon Governor Kate Brown issued Executive Order No. 20-11 (the “Order”), which temporarily stops all residential evictions in the state based on the nonpayment of rent. Given the impacts that the novel infectious coronavirus

Idaho, Nevada & Oregon Bankers Association 2016 Annual Convention

Saalfeld Griggs Litigation, Creditors’ Rights & Bankruptcy Practice Groups Oregon Business Lawyers Erich M. Paetsch moderated the general session “A View from Washington”  at the Idaho, Nevada & Oregon Bankers Association 2016 Annual Convention in Coeur D’alene, Idaho. The session evaluated political and regulatory compliance risks; the most pressing issues and advocacy priorities currently facing

Supreme Court Sides With Lenders Holding Junior Mortgages

A recent Supreme Court case considered whether, in a Chapter 7 bankruptcy proceeding, a junior mortgage may be voided when the senior mortgage amount exceeds the value of the property. For lenders, this means that if you hold a mortgage that is second in line to the primary mortgage, and that primary mortgage is larger

Non-Core Bankruptcy Matters: Take Action or Consent Will Be Implied

Bankruptcy courts have a seemingly obvious purpose—to settle bankruptcy claims. However, bankruptcy courts may also hear and decide matters that would traditionally be argued in a federal district court if those matters are related to the bankruptcy proceeding and the parties consent to arguing the issues in the bankruptcy court. To clarify why this matters,

Harris v. Viegelahn, Chapter 13 Trustee

During a Chapter 13 bankruptcy proceeding, a trustee collects a portion of a debtor’s wages for distribution to creditors according to a court-approved payment plan. At any time, a debtor may convert his Chapter 13 proceeding into a Chapter 7 proceeding, during which the debtor’s wages are not collected. What happens to wages collected, referred

Employment Law Update: After Measure 91, is Marijuana Just Another Legal Drug?

By Randall Sutton, Saalfeld Griggs PC As financial services employers are well aware, the legalization of marijuana for recreational use poses new challenges for banks wishing to maintain a drug free workplace. If the experiences of Colorado and Washington are any indication, Oregon is likely to see a significant increase in the number of employees

Guarantors of Commercial Loans in Washington may be Liable for Deficiency

The Washington Supreme Court’s recent decision in Washington Federal vs. Harvey confirmed what was believed true: guarantors of commercial loans may be liable for a deficiency after non-judicial foreclosure of a trust deed. Lenders are often faced with Collateral Shortfalls in a default situation. This is especially true when the value of collateral after non-judicial foreclosure creates

Proposed CFPB Rule Changes

Proposed CFPB Rule Changes: Clarifications, Additional Requirements, and where Small Loan Servicers Fit The Consumer Finance Protection Bureau (“the Bureau”) has proposed new regulations to clarify a number of issues that the Bureau felt remain unresolved under existing rules.  The new rules are voluminous and address loss mitigation, small servicer definitions, and service transfer deadlines.  You