Christy W. Hancock

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Christy Hancock’s practice focuses primarily on financial services litigation and regulatory compliance. She defends mortgage investors, including Government Sponsored Enterprises, and servicers in a variety of matters, including TILA, RESPA, RICO and FCRA disputes, predatory lending claims, mortgage-related fees and servicing issues, escrow account disputes, unfair and deceptive trade practices claims, and wrongful foreclosure claims. View articles by Christy.

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Landlords Again Successfully Challenge the CDC’s Authority to Ban Residential Evictions

By Melissa Gutierrez and Christy W. Hancock on Posted in CARES Act, COVID-19 (Coronavirus), Eviction, Federal Agencies, Foreclosure
Earlier this year, the Eastern District of Texas invalidated — commerce clause grounds — the Centers for Disease Control and Prevention’s (CDC’s) ability to halt residential evictions during the COVID-19 pandemic. Subsequently, in Tiger Lily, LLC v. U.S. Dept. of Housing & Urban Development, the Sixth Circuit Court of Appeals granted another win to landlords in … Continue Reading

Bradley’s Bankruptcy Basics: COVID-19 Bankruptcy Relief Extension Act Extends Various CARES Act Amendments to the Bankruptcy Code

By Elizabeth R. Brusa, Christy W. Hancock and Alexandra Dugan on Posted in Bankruptcy, Bradley's Bankruptcy Basics, CARES Act, COVID-19 (Coronavirus), Debt Collection, Mortgage Servicing, Secured Creditors, Secured Debts, Small Business Lending, Unsecured Lending
Last March, in response to the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) made several changes to the Bankruptcy Code, including those changes discussed in more detail here. As it became clear that we would be dealing with COVID-19 for much longer than previously anticipated, Congress passed the Consolidated Appropriations … Continue Reading

CFPB Proposes COVID-19-Related Amendments to the Mortgage Servicing Rules

By Jonathan R. Kolodziej, Michael Gordon, Jason R. Bushby and Christy W. Hancock on Posted in CFPB, COVID-19 (Coronavirus)
On April 5, 2021, the Consumer Financial Protection Bureau issued a proposal to amend the existing loss mitigation rules in Regulation X. As stated in the Bureau’s press release, the proposal is designed to “help prevent avoidable foreclosures as the emergency federal foreclosure protections expire.” To accomplish that goal, the proposed rule has a few … Continue Reading

Bradley’s Bankruptcy Basics: 5 Significant (if Temporary) Amendments to the Bankruptcy Code Resulting from the COVID-19 Pandemic

By Elizabeth R. Brusa, Christy W. Hancock, Alexandra Dugan and Christopher L. Hawkins on Posted in Bradley's Bankruptcy Basics, CARES Act, COVID-19 (Coronavirus), Debt Collection, Mortgage Servicing, Secured Creditors, Secured Debts, Small Business Lending, Unsecured Lending
As we cross the one-year anniversary of the COVID-19 pandemic, we reflect on the multiple amendments to the Bankruptcy Code that have been implemented to help curb the effects of various economic shutdowns and financial hardships caused by the coronavirus. These Bankruptcy Code amendments are only temporary, but Congress is considering extending them to facilitate … Continue Reading

Bradley’s Bankruptcy Basics: Chapter 13 Bankruptcy — Consumer Bankruptcy with a Payment Plan

By Elizabeth R. Brusa, Alexandra Dugan, Christy W. Hancock and Christopher L. Hawkins on Posted in Bankruptcy, Bradley's Bankruptcy Basics, Compliance, Debt Collection, Mortgage Servicing, Secured Creditors, Secured Debts, Small Business Lending, Unsecured Lending
Chapter 13 bankruptcy provides relief only to individuals with regular income. This Chapter is most frequently used by debtors who have sufficient disposable monthly income to make some payments over time to their creditors. Chapter 13 debtors frequently have enough equity in their residence that, if they were to file for Chapter 7, the residence … Continue Reading

Although the COVID-19 Pandemic Persists, So Does the Constitution

By Melissa Gutierrez, Christy W. Hancock and S. David Smith on Posted in CARES Act, COVID-19 (Coronavirus), Eviction, Federal Agencies, Foreclosure
Landlords in the state of Texas won a battle over their ability to conduct residential evictions when a federal court struck down the Centers for Disease Control’s (CDC) broad eviction moratorium last Thursday. On February 25, Judge John Barker of the Eastern District of Texas granted summary judgment in favor of a group of landlords … Continue Reading

Bradley’s Bankruptcy Basics: A Multimedia Series

By Elizabeth R. Brusa, Alexandra Dugan, Christy W. Hancock, Christopher L. Hawkins, Anna-Bryce Hobson, Erin Malone-Smolla, Lauren G. Raines and Hirshel M. Hall on Posted in Bankruptcy, Bradley's Bankruptcy Basics, Compliance, Debt Collection, Mortgage Servicing, Secured Creditors, Secured Debts, Small Business Lending, Unsecured Lending
Bankruptcy. The arrival of that notice stating a customer has filed for bankruptcy can evoke less-than-ideal responses: forwarding the notice to someone else who might know what to do with it (resulting in the notice ending up in a forever loop of being forwarded along); immediately writing off the account and cutting your losses; or, … Continue Reading

Acting Director David Uejio Issues Warning: CFPB Will Take Aggressive Action with Regard to COVID-19

By Michael Gordon, Christy W. Hancock, Jonathan R. Kolodziej and Gabriella E. Alonso on Posted in CFPB, COVID-19 (Coronavirus), FCRA
On January 28, 2021, Acting Director David Uejio of the Consumer Financial Protection Bureau (CFPB) confirmed the CFPB’s new, aggressive approach to enforcement of COVID-19-related matters. Uejio’s statement, posted as a blog, addresses several areas of concern discovered during last year’s Prioritized Assessments, including: Mortgage servicers providing inaccurate information about CARES Act forbearances, failing to … Continue Reading

What Does CA AB 3088 Mean for Mortgage Servicers? PART II

By Jason R. Bushby, Anna Craft and Christy W. Hancock on Posted in California, CFPB, COVID-19 (Coronavirus), Loss Mitigation, Mortgage Servicing, Regulation X, State Law Developments
Last year, our blog, What Does CA AB 3088 Mean for Mortgage Servicers?, examined some new and notable obligations California imposes on mortgage servicers, including requirements to provide forbearance denial notices. In that blog, we promised the publication of a Part II that further expanded upon CA AB 3088. In this Part II, we discuss … Continue Reading

Bankruptcy Court Upholds Foreclosure Sale That Occurred Between Bankruptcy Case Dismissal and Subsequent Reinstatement

By Elizabeth R. Brusa and Christy W. Hancock on Posted in Bankruptcy, Compliance, Foreclosing Entities, Foreclosure, Mortgage Servicing, Secured Creditors, Secured Debts
Frequently, borrowers file for bankruptcy at the 11th hour to halt foreclosure sales. Once a petition for bankruptcy relief has been filed, secured creditors must cease their collection efforts to avoid violating the automatic stay. However, the automatic stay terminates upon a debtor’s dismissal and closure of the bankruptcy case. A Pennsylvania bankruptcy court recently … Continue Reading

New York Enacts a Moratorium on COVID-19-Related Residential Evictions and Foreclosures

By Courtney Achee and Christy W. Hancock on Posted in COVID-19 (Coronavirus), Foreclosure, New York, State Law Developments
On December 28, 2020, New York passed a new law entitled the “COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020.” The act places a moratorium on COVID-19-related residential real property mortgage foreclosure actions and residential eviction proceedings until May 1, 2021, where a tenant or homeowner has submitted a “hardship declaration” to the foreclosing … Continue Reading

When Do CARES Act Forbearance Rights and Foreclosure Moratoriums End?

By Christy W. Hancock and Jason R. Bushby on Posted in COVID-19 (Coronavirus), Foreclosure
The March 2020 Coronavirus Aid, Relief, and Economic Security Act (CARES Act) contains a number of provisions that help borrowers with federally backed mortgage loans. Among these are forbearance protections for borrowers with single-family loans and multifamily loans. However, only one of the forbearance provisions has a clearly defined period when the rights are available. As … Continue Reading

COVID-19 Mortgage Servicing Trends Report: 2020 Year-End Review

By Christy W. Hancock, Jason R. Bushby and Jonathan R. Kolodziej on Posted in Compliance, COVID-19 (Coronavirus), Credit Reporting Industry, Foreclosure, Litigation Developments, Mortgage Servicing
Oh what a year it has been in the mortgage servicing world! In 2020, our COVID-19 Compliance Roundtable met weekly to discuss emerging compliance issues under the CARES Act, federal agency guidance, state laws and orders, and the many operational hurdles regarding residential mortgage loans that servicers are facing. We’ve summarized the key trends and … Continue Reading

In the Strangest Year Ever, We’re Very Thankful and Wish You a Happy Thanksgiving

By Christy W. Hancock, Hallman B. Eady, Heather Howell Wright, Steve Snyder, Christopher K. Friedman, Leah M. Campbell and Jennifer L. Galloway on Posted in Bankruptcy, CCPA, CFPB, COVID-19 (Coronavirus), Credit Reporting Industry, Debt Collection, Education Finance, FDCPA, Flood Insurance Regulation, Mortgage Servicing, Small-Dollar Lending, Student Loan Servicing
As everyone steps away from their (home) office to celebrate Thanksgiving, we wanted to count our blessings as we review this truly remarkable and unusual year. In addition to frontline healthcare workers, good WI-FI, food delivery services, and finally finding a mask that is comfortable, we are also thankful for the following: 1. The CARES … Continue Reading

Pre-Pandemic Chapter 13 Defaults Received CARES Act Modification Protection in the Middle District of Alabama

By Christy W. Hancock and Lissette C. Payne on Posted in Bankruptcy, COVID-19 (Coronavirus)
In a notable decision interpreting the March 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Bankruptcy Court for the Middle District of Alabama held that Chapter 13 debtors behind on their payments before March 2020 may seek modification of their plan if they suffered from COVID-19 related financial distress. In In re Fowler, … Continue Reading

What Does CA AB 3088 Mean for Mortgage Servicers?

By Christy W. Hancock and Anna Craft on Posted in California, COVID-19 (Coronavirus), Mortgage Servicing
On September 1, 2020, California passed a new law titled the “COVID-19 Small Landlord and Homeowner Relief Act of 2020.” Although the majority of the new law addresses eviction issues between landlords and tenants, it imposes notable new obligations on mortgage loan servicers as well. This two-part blog series will address those changes. Part I … Continue Reading

No Foreclosures or Evictions on Federally Backed Mortgage Loans until 2021

By Christy W. Hancock on Posted in COVID-19 (Coronavirus), Federal Agencies, FHA, HUD, Mortgage Servicing
Borrowers with federally backed mortgage loans facing financial difficulty can breathe a little easier today. All of the federal agencies regulating such loans have announced that they will extend the moratoriums on foreclosure and evictions for single-family properties until December 31, 2020. Federal Housing Finance Agency (FHFA) issued a press release on August 27, 2020 … Continue Reading

Oregon Passes Mandatory Forbearance Law

By Christy W. Hancock and R. Aaron Chastain on Posted in COVID-19 (Coronavirus), Mortgage Releases, Mortgage Servicing, Oregon, State Law Developments
On June 30, 2020, Oregon joined D.C., Massachusetts, and New York in passing state-specific COVID-19 mortgage assistance programs into law. This new law further confuses the patchwork quilt of compliance issues for mortgage lenders and servicers. Oregon also became the first state to create an express cause of action allowing borrowers to enforce the state … Continue Reading

Credit Reporting During the COVID-19 Outbreak: CFPB Issues FAQs for CARES Act Requirements

By Bradley, Christy W. Hancock, R. Aaron Chastain and Grant A. Premo on Posted in COVID-19 (Coronavirus), Credit Reporting Industry, Mortgage Servicing
The CFPB recently issued its “Consumer Reporting FAQs Related to the CARES Act and COVID-19 Pandemic,” addressing 10 credit reporting issues. While the FAQs provide some much-needed clarity for furnishers of information and credit reporting agencies, the CFPB left some significant questions unanswered. Below we breakdown highlights of the FAQs: Several of the FAQs — … Continue Reading

New York Passes Mandatory Forbearance Law, Inviting Potential Constitutional Challenge

By R. Aaron Chastain, Christy W. Hancock and Robert Maddox on Posted in COVID-19 (Coronavirus), Mortgage Servicing, New York
On June 17, New York Gov. Andrew Cuomo signed one of the most far-reaching COVID-19 mortgage assistance state programs yet into law. Affected servicers and lenders will soon need to decide whether they should find a way to comply, or bring a constitutional challenge. The new law mandates that New York-regulated banking organizations and mortgage … Continue Reading

FHFA Announces COVID-19 Forbearance Relief for Mortgage Servicers

By Christy W. Hancock and Heather Howell Wright on Posted in Affordable Housing, Banking, COVID-19 (Coronavirus), Fair Housing, FHA, Foreclosure, Mortgage Servicing
In a statement released on April 21, 2020, the Federal Housing Finance Agency (FHFA) announced that mortgage servicers would only be required to advance four months of missed payments for Fannie Mae and Freddie Mac owned loans on CARES Act forbearance plans. After that four-month period, FHFA explained the servicers would be under “no further … Continue Reading

Having Trouble with CARES Act Forbearances in Ch. 13 Bankruptcy? You’re Not Alone!

By Christopher L. Hawkins, Christy W. Hancock and Alexandra Dugan on Posted in Affordable Housing, Automobile Finance, Bankruptcy, COVID-19 (Coronavirus), Debt Collection, Fair Housing, Federal Agencies, Mortgage Servicing
Guest Author: Karlene A. Archer of Karlene A. Archer Law P.L.L.C. Consumers that have pending Chapter 13 bankruptcy cases undoubtedly suffered from financial hardship prior to the COVID-19 pandemic. For many of those consumers, the pandemic may have exacerbated that hardship. The CARES Act’s mortgage forbearance provisions allow some breathing room for consumers that anticipate … Continue Reading

Coronavirus Economic Stabilization Act of 2020: Implications for Consumer Financial Services

By Christy W. Hancock, Michael Gordon, J. David Stewart III, Lee Gilley, Alex McFall and Brian R. Epling on Posted in Automobile Finance, COVID-19 (Coronavirus), Credit Card, Credit Reporting Industry, Education Finance, FHA, Foreclosing Entities, Foreclosure, Mortgage Servicing, Student Loan Servicing
On Friday, President Trump signed the Coronavirus Economic Stabilization Act of 2020 (CARES Act). The significant legislation directs more than $2 trillion into fighting the COVID-19 pandemic and stimulating America’s economy for the duration of the pandemic. This blog summarizes some of the provisions that are most relevant to financial institutions that make or service … Continue Reading

What Will COVID-19 Relief Look Like and How Will It Affect Financial Services Companies?

By Brian R. Epling, Lee Gilley, Christy W. Hancock, Alex McFall and J. David Stewart III on Posted in Automobile Finance, Banking, COVID-19 (Coronavirus), Credit Reporting Industry, Education Finance, Fair Lending, Financial Sanctions, Foreclosure, Loan Modification, Mortgage Servicing, Student Loan Servicing
Both parties have recognized the need for significant and immediate relief to assist consumers and small businesses affected by COVID-19. On March 18, 2020, Rep. Maxine Waters (D-CA), the chairwoman of the House Financial Services Committee, released plans for responding to the COVID-19 pandemic. At this point, the plans are merely a high-level list of … Continue Reading
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