Stepp v. U.S. Bank Trust N.A., No. 19-1067 (4th Cir. 2020)Annotate this Case
A bank office that conducts no mortgage-related business does not qualify as a "branch office" of a "mortgagee" under 24 C.F.R. 203.604(c)(2). Section 203.604(c)(2) excuses a face-to-face meeting between the bank and the mortgage borrower before a foreclosure when the "mortgaged property is not within 200 miles of the mortgagee, its servicer, or a branch office of either."
The Fourth Circuit affirmed the district court's grant of U.S. Bank's motions to dismiss. The court agreed with the district court that U.S. Bank's Richmond office – the only one within 200 miles of plaintiff's home – conducted no mortgage-related business and was not open to the public, and thus did not qualify as a "branch office" of a "mortgagee."