Will Coronavirus Bring National Remote Online Notarization? Ask Fannie and Freddie

Responding to coronavirus mandates on social distancing, lawmakers are backing national remote online notarization with a new bill introduced in Congress, the Securing and Enabling Commerce Using Remote and Electronic Notarization Act of 2020. (SECURE Act) There are both Senate and House versions, both bipartisan. The SECURE Act allows notarizations through a video link when … More Will Coronavirus Bring National Remote Online Notarization? Ask Fannie and Freddie

New Temporary COVID-19 Massachusetts Debt Collection Regulations Substantially Curtail Both Creditors and Debt Collectors

Today Massachusetts Attorney General Maura Healey issued new debt consumer collection regulations substantially curtailing debt collection activities. Entitled Unfair and Deceptive Debt Collection Practices During the State of Emergency Caused by COVID-19, the Attorney General’s website claims that the regulation “… prohibits creditors from engaging in methods of debt collection that can require people to … More New Temporary COVID-19 Massachusetts Debt Collection Regulations Substantially Curtail Both Creditors and Debt Collectors

In Massachusetts, Acceleration Does Not Shorten the Term of A Mortgage

The Massachusetts Appeals Court has issued a decision which will (hopefully) further clarify the interplay between promissory note and mortgage in the foreclosure context. This is a technical area but critical to mortgage holders seeking to collect on defaulted mortgage loans and to borrowers with defaulted mortgages seeking to understand their rights. The issue arises … More In Massachusetts, Acceleration Does Not Shorten the Term of A Mortgage

The Time May Not Have Come For the CFPB’s Proposed Time Barred Debt Rule

The CFPB recently issued proposed regulations and a request for comment with reference to debts whose collection is or may be barred by an individual state’s statute of limitations. The regulations state that a debt collector must inform the debtor in its initial communications with the debtor whether legal action to collect the debt is … More The Time May Not Have Come For the CFPB’s Proposed Time Barred Debt Rule

Real Time Payments

New technology is becoming available and utilized that allows electronic payments in seconds. Known as Real Time Payment, (RTP) private organizations such as The Clearing House, financed by large banks, and the upcoming FedNow system, offered by the Federal Reserve, the system seeks to make both wholesale and retail payments faster. The concept is that … More Real Time Payments