As Lender’s know, the Department of Human Services (DHS) and the Oregon Health Authority (OHA) regularly request verification of certain customer financial information. Pursuant to ORS 192.588, DHS and OHA are required to certify to the financial … [Read more...] about Financial Institutions Should Beware of Incomplete Requests for Verification of Customer Financial Information
How Does SB 1552 Affect Individuals Holding Trust Deeds?
Signed into law earlier this year and taking effect July 11, 2012, SB 1552 creates a statewide foreclosure mediation program and significantly alters the mortgage foreclosure process in Oregon for beneficiaries (lenders) and grantors (borrowers). The Act … [Read more...] about How Does SB 1552 Affect Individuals Holding Trust Deeds?
Reaffirming Debts in Bankruptcy
Despite the drop in the number of Chapter 7 and Chapter 13 bankruptcy filings in 2011, the projections for 2012 are bleak. For creditors, that means continuing to navigate the rules in bankruptcy. Some debtors holding collateral will try and reaffirm … [Read more...] about Reaffirming Debts in Bankruptcy
Legislative Update: 2012 Senate Bill 1552 – Mandatory Mediation on Residential Trust Deeds
In its closing hours, the 2012 Oregon Legislative Assembly enacted Senate Bill 1552, which generally requires larger volume home lenders to enter into mediation with defaulting borrowers prior to commencing trust deed foreclosure by advertisement and … [Read more...] about Legislative Update: 2012 Senate Bill 1552 – Mandatory Mediation on Residential Trust Deeds