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By Shannon Raye Martinez, Attorney in the Creditor’s Rights & Bankruptcy and Litigation Practice Groups On May 6, 2020, the Consumer Financial Protection Bureau (CFPB) published a policy statement answering three questions relating to the Paycheck Protection Program (PPP). The policy statement clarifies when a creditor is required to provide notice to the loan applicant …
By Shannon Martinez, Attorney in the Creditor’s Rights & Bankruptcy and Litigation Practice Groups On April 14, 2020, the FDIC, OCC and Federal Reserve issued an interim final rule that allows lenders to close certain real estate loans without an appraisal or evaluation. The lender will have 120 days after the loan closing to obtain …
By Caleb Williams, Business & Taxation Attorney, and Erich Paetsch, Creditor’s Rights & Bankruptcy and Litigation Attorney The US Treasury in coordination with the US Small Business Administration just released its initial guidance for borrowers and lenders on the Paycheck Protection Program loans authorized by the CARES Act. The guidance includes important information for small …
By Erich Paetsch, Creditors’ Rights & Bankruptcy and Litigation Attorney Summary The Coronavirus Aid, Relief, and Economic Security Act, or “CARES Act” is the third emergency bill from the United States Government in response to the Coronavirus (COVID 19) pandemic. It is likely to be signed into law no later than March 28, 2020. The …
[vc_row][vc_column][vc_column_text] By Litigation and Creditors’ Rights & Bankruptcy Attorney November 3, 2016 – Several Oregon Counties have filed a lawsuit today against MERS, Inc., and its holding company, MERSCORP Holdings, Inc. (“MERS”), as well as several financial institutions that operate in Oregon and transferred security instruments to MERS. The Counties are alleging fraud, unjust enrichment, and negligence against …
[vc_row type=”in_container” full_screen_row_position=”middle” scene_position=”center” text_color=”dark” text_align=”left” overlay_strength=”0.3″][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ width=”1/1″ tablet_text_alignment=”default” phone_text_alignment=”default”][vc_column_text] By: Litigation and Creditors’ Rights & Bankruptcy Practice Groups Citing the widespread concern that many mortgage servicers lack adequate computer systems which prevent them from following CFPB mortgage servicing regulations (the majority of which became effective in January, 2014), the CFPB has issued …
Saalfeld Griggs Litigation, Creditors’ Rights & Bankruptcy Practice Groups Oregon Business Lawyers Today the Consumer Financial Protection Bureau (“CFPB”) proposed rules targeting the pay-day, auto title and deposit advance products in the lending industry. Under the proposed rule, lenders would be required to ensure a consumer has the ability-to-repay (“ATR”) the loan prior to …