Brooks F. Bossong: Lawyer with Nexsen Pruet, LLC

Brooks F. Bossong

Member
Greensboro,  NC  U.S.A.
Phone336.387.5169

Peer Rating
 4.9/5.0
AV® Preeminent

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Practice Areas

  • Banking and Finance
  • Commercial Law
  • Bankruptcy & Creditors' Rights
  • Business Disputes
  • Collections
  • Real Estate Law
  • Distressed Property and Workouts
  • Real Estate Litigation
  • Foreclosure
  • Financial Services
 
Mailing AddressP.O. Box 3463, Greensboro, NC, 27402
 
University University of North Carolina, B.A., 1984
 
Law SchoolLouisiana State University, J.D., 1993
 
Admitted1993, North Carolina; U.S. District Courts of Eastern, Middle, and Western North Carolina
 
Memberships 

Civic & Professional Memberships

•Greensboro Bar Association
•North Carolina Bar Association
•NC Creditors Bar Association
•NC Bankers Association
•NCLEAP (North Carolina Lawyers for Entrepreneurs Assistance Program), Steering Committee

 
Biography

Brooks Bossong focuses his practice on banking law, credit union law, commercial litigation, creditors rights and special assets. Brooks has a statewide practice in which he represents a variety of financial institutions and business lenders in areas involving the workout and restructuring of troubled debt facilities, regulatory issues, and lender liability defense.

When restructuring is no longer a viable option, Brooks handles the prosecution of debt and collateral recovery, including bringing suit in state or federal court. Brooks has significant experience representing clients in investigating asset transfers, pursuing fraudulent conveyance claims, handling foreclosures (as trustee or as lender's counsel, with significant experience working with complex servicing and participation agreements), representing clients in federal forfeiture proceedings, pursuing prejudgment remedies such as attachment and replevin/claim and delivery, handling the domestication and enforcement of foreign judgments, and pursuing post judgment enforcement via supplemental proceedings. Brooks also advises and assists clients with loan modifications, loan sales, and forbearance arrangements in which clients' secured positions are re-evaluated and augmented. Brooks regularly advises lenders/servicers on state and federal regulatory compliance issues, including compliance with the Consumer Financial Protection Bureau's rules relating to mortgage servicing, early intervention, and loss mitigation procedures.

Brooks has considerable experience in state and federal courts, including trial and motions practice, appellate advocacy and bankruptcy practice.

Speaking & Writing

Related Events
Avoiding the Fiduciary Duty Trap: Lessons Learned and Practical Tips
October 1, 2014

Related Insights
Consumer Financial Protection Bureau 101
November 10, 2014
Changes to Mortgage Servicing Rules
November 20, 2014
Why the Flagstar Bank Case is Important
January 8, 2015
The Consumer Financial Protection Bureau's case against Corinthian Colleges
March 12, 2015
Corinthian Colleges: Part Two - the Perfect Storm
April 29, 2015
The Consumer Financial Protection Bureau's cases against Sprint and Verizon for Mobile Cramming
June 23, 2015
The Consumer Financial Protection Bureau's new Know Before You Owe Mortgage Disclosure Rule
July 23, 2015
The Consumer Financial Protection Bureau's case against Citibank for violations relating to credit card add-on products
August 25, 2015
Countdown to TRID Implementation
September 25, 2015
Redlining and the joint action by the Consumer Financial Protection Bureau and the Department of Justice against Hudson City Savings Bank
November 12, 2015

Overview

Brooks has spoken at numerous CLEs on the topics of creditors' rights, landlord tenant law, supplemental proceedings, foreclosures, and the Federal Fair Debt Collection Practices Act.

He co-authored an edition of Successful Judgment Collections in North Carolina published by National Business Institute in 2000, and was also a co-author of the NC State Bar Association 2011 CLE Manual on Collection and Enforcement of Judgments.

Blog: Consumer Financial Protection Bureau

Outside Nexsen Pruet

Outside Nexsen Pruet, Brooks enjoys racquet sports as a way to reduce stress and pretend he's physically thrashing the opposition. When he's not playing sports, Brooks is active in the YMCA Adventure Guides Program. He is also a flag football coach for the YMCA. Brooks is a member of Centenary United Methodist Church in Winston-Salem.

Outside Nexsen Pruet

Outside Nexsen Pruet, Brooks enjoys racquet sports as a way to reduce stress and pretend he's physically thrashing the opposition. When he's not playing sports, Brooks is active in the YMCA Adventure Guides Program. He is also a flag football coach for the YMCA. Brooks is a member of Centenary United Methodist Church in Winston-Salem.

 
Reported CasesNotable: In early 2015, the North Carolina Bankers Association called on Brooks to author a Legal Memorandum regarding the Consumer Financial Protection Bureau's new mortgage servicing rules and the recent Flagstar Bank Enforcement Action. On December 11th, 2014 Brooks was a CLE presenter at the North Carolina Bar Center in Cary. The event focused on collection and enforcement of judgments. Brooks presented on Ethical Considerations in Collection Matters and examined topics such as: The Intersection of the Federal Fair Debt Collection Practices Act and the North Carolina Debt Collection Act; North Carolina's Emergency Program to Reduce Home Foreclosures Act; The Consumer Financial Protection Bureau's new mortgage servicing rules; Over the past few years Brooks has been very active in loan workouts and restructurings. In several recent cases in court, Brooks was successful in defending banking clients from lender liability claims raised by borrowers and guarantors (based on breach of fiduciary duty) at the summary judgment level, avoiding lengthy jury trials. Brooks was also successful in pursing the imposition of personal liability on an individual corporate agent for a judgment debtor corporation who refused to cooperate in furnishing schedules of the corporation's officers and properties to the levying officer. Insulation Systems, Inc. v. Fisher, 2009, 197 N.C.App. 386, 678 S.E.2d 357, review denied 363 N.C. 654, 684 S.E.2d 890. Brooks was also recently successful in handling an appeal relating to the imposition of personal liability on an individual corporate agent for a defendant judgment debtor who refused to furnish a schedule of the defendant's property to the levying officer. Insulation Systems, Inc. v. Fisher, 2009, 197 N.C.App. 386, 678 S.E.2d 357, review denied 363 N.C. 654, 684 S.E.2d 890.
 
ISLN910182698
 

Documents by this lawyer on Martindale.com

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The Consumer Financial Protection Bureau’s New Rule for Compliance with the Home Mortgage Disclosure Act
Brooks F. Bossong, February 12, 2016
This past October 15th, the Consumer Financial Protection Bureau announced the purported finalization of its “new rule” for “updating the reporting requirements” under the Home Mortgage Disclosure Act HMDA.”[1] The point of the CFPB”s new rule, as advertised by...

Redlining and the Joint Action by the Consumer Financial Protection Bureau and the Department of Justice against Hudson City Savings Bank
Brooks F. Bossong, November 27, 2015
In this post, we’re going to examine the subject of redlining in the context of residential mortgage loans. We’re then going to turn our attention to the recent joint action by the Consumer Financial Protection Bureau (“CFPB”) and the Department of Justice...

Countdown to TRID Implementation
Brooks F. Bossong, October 7, 2015
The effective date for implementation of the “TILA-RESPA Integrated Disclosure” rule, or “TRID” for short, is just around the corner - October 3rd. Originally the effective date was August 1st but that date was extended by the CFPB to October 3rd (re my July 23 post for the...



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Office Information

Brooks F. Bossong

701 Green Valley Rd., Ste. 100
GreensboroNC 27408




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