State Law Updates
New Hampshire bill HB-1687 amends provisions related to the retail installment sales of motor vehicles, small, title, and payday loan provisions.
Another state's bill SB-314 provides a rebuttable presumption that an individual is not engaged in the business of a mortgage banker, broker, servicer, or originator if the individual is not involved in more than three (3) loans in any consecutive twelve (12) month period.
FDCPA: "Mini-Miranda" Notifications
BY SVIATLANA LIASHCHYNA
All foreclosure law firms provide “mini-Miranda” disclosures in all their written and oral communications with a customer. The firms provide these disclosures to comply with the Fair Debt Collection Practices Act (FDCPA) requirements and contractual requirements; however, the FDCPA is not clear whether it applies to the foreclosure law firms. Considering the judicial interpretation differences, firms are left with the question of whether their “mini-Miranda” disclosure should state “the firm MAY be deemed to be a debt collector” or “the firm IS deemed to be a debt collector.”
Although certain jurisdictions have not yet addressed whether the actions completed by law firms during the foreclosure proceedings fall under the FDCPA requirements, the courts that have rendered their opinion on this matter mostly considered the following:
 Under section 15 U.S.C. §1692e (11) the debt collector needs to disclose to the consumer the purpose of the initial written or oral communication to indicate that it is an attempt to collect a debt and that any information obtained will be used for that purpose. All subsequent communications with the consumer should indicate that those communications are from a debt collector.
 Johnson-Gellineau v. Steine & Assocs., P.C., No. 16-CV-9945 (KMK), 2018 U.S. Dist. LEXIS 53873 (S.D.N.Y. Mar. 29, 2018)
 Zimmerman v. The CIT Group, Inc., Case No. 08-cv-00246-ZLW-KMT, 2008 U.S. Dist. LEXIS 108473, 2008 WL 5786438, at *9 (D. Colo. Oct. 6, 2008)
 Burnett, 706 F.3d at 1239
 Hulse v. Ocwen Fed. Bank, FSB, 195 F. Supp. 2d 1188, 1204 (D. Or. 2002)
 Glazer v. Chase Home Fin. LLC, 704 F.3d 453 (6th Cir. 2013)
 See Vien-Phuong Thi Ho v. Recontrust Co., NA, 858 F.3d 568 or Obduskey v. Fargo, 879 F.3d 1216 (10th Cir. 2018)
 Reese v. Ellis, Painter, Ratterree & Adams, LLP, 678 F.3d 1211 (11th Cir. 2012)
Sharing trends and best practices to help you improve your processes and maximize your profitability.