News Topic: CreditSlips

It's turning into a wild week in Chapter 11 with the dueling bankruptcy petitions for Caesar's Entertainment.  On Monday, an involuntary petition was filed in Delaware against Caesar's by some of its Second Lien noteholders. Today, ... Read full article

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Last month mortgage servicer Ocwen (that's NewCo backwards) was mauled by the NY State Department of Financial Services. Now the California Department of Corporations is seeking to revoke Ocwen's license to do business in that state.  ... Read full article

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Payday loans are exceedingly expensive, often trapping borrowers into a cycle of rolling their loan over for many months while interest compounds. Postal banking has been suggested as a way to provide people with better access to less-expensive loans. And ... Read full article

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Today we welcome Matthew Bruckner as a guest blogger. Professor Bruckner teaches at Howard University School of law. I first became acquainted with him through his wonderful scholarship applying virtue theory to bankruptcy law. He teaches a variety of ... Read full article

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In November, the American Bar Association issued a formal opinion that it was unethical for prosecutors to allow debt collectors to use prosecutorial letterhead when no member of the prosecutor's staff reviews the file to determine if it is likely a ... Read full article

In today's Short View Column , Dan McCrum examines falling oil prices and the futures market, and then concludes: But the point of this story is not that some think they know what will happen next. Rather, it is that the price of one of the most ... Read full article

Yellow Pages--maybe not so much anymore. Websites, AdWords, and social media--yes, yes, and occasionally. ... Read full article

First some easy ones you all know: 1. The stock market will drop, perhaps precipitously, making now great time to rebalance retirement portfolios. 2. The price of gas will inch up and in the meantime, more states will add a little gas tax here and there ... Read full article

Just in time for the new year, I've got a new article called Safe Banking up on SSRN. The article is a first principles reexamination of the industrial organization of financial services. It identifies the institutional combination of deposits and ... Read full article

Apparently some mortgage lenders feel they can make this change unilaterally. Big changes are afoot in the process of granting a home mortgage, which could have a significant impact on a homeowner’s ability to fight foreclosure. ... Read full article

We're talking softball, from Maine to San Diego...   We're talking Homer, Ozzie and the Straw... ... Read full article

A lot of the mortgage servicing litigation over the past seven years has faltered on standing issues. Does the borrower have standing to sue the servicer? This has been a problem for RESPA and HAMP suits, where there are questions about whether there is a ... Read full article

I've been remiss in cross-posting my Dealb%k columns. Both of the most recent ones have commented on the ABI's chapter 11 reform proposal . You can find them here . ... Read full article