(BREAKING NEWS – OP-ED) —
In a precedential Third U.S. Circuit ruling (Tepper v. Amos Financial, LLC) on August 7, 2018, the Court really went out of its way to provide us with parameters of what constitutes a true “debt collector”. I believe these 15 pages will serve your educational value well:
Also significant is that the District Court Justice who the appellate court affirmed the ruling of was the same judge that blasted the basic fundamentals of Mortgage Electronic Registration Systems, Inc. and its parent MERSCORP, Inc. in the Montgomery County, Pennsylvania suit against the pair of distinctly separate entities (which the 3rd Circuit reversed, succinctly).
Much of the differences here have to do with whether or not the debt was purchased by “Party B” when it was in default, versus if it wasn’t. This is why careful examination must be paid to the condition of transfer at the time a mortgage loan is transferred to a REMIC trust, because if the note and mortgage were in default at the time they were transferred to the REMIC, these same conditions may apply! See Page 13 of this ruling for clarification (III. Discussion).
This “test” should help you decide whether to pursue an FDCPA action, among other factors previously discussed on this blog.
This is also another reason WHY I wrote the book on “FDCPA, Debt Collection & Foreclosures”, available on the Clouded Titles website!