December 20, 2019 / 2:12 PM / a month ago

Servicemembers lose 5th Circuit battle against Louisiana foreclosure law

A law that offers U.S. servicemembers some protection against default foreclosure judgments does not apply if the lender is enforcing a “confession of judgment” clause in the mortgage agreement, a federal appeals court held Thursday.

Calling it “a case of first impression in this and other circuits,” the 5th U.S. Circuit Court of Appeals affirmed rulings by a federal judge in Shreveport, Louisiana, for Bank of America, Barksdale Federal Credit Union, Ocwen Loan Servicing, PennyMac Loan Services, PHH Mortgage and Trustmark National Bank in a potential class action accusing them of violating the Servicemembers Civil Relief Act.

To read the full story on Westlaw Practitioner Insights, click here:

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