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Mortgages › Cyber Incident Reporting

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Wyrick Robbins Yates & Ponton LLP

Maybe Not Practical After All: HUD Proposes Revised Cyber Incident Reporting Requirement for FHA-Approved Mortgagees

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As we discussed in a recent post, earlier this year the U.S. Department of Housing and Urban Development (“HUD”) issued Mortgagee Letter 2024-10, which imposed a new requirement on all FHA-approved mortgagees to report...more

Wyrick Robbins Yates & Ponton LLP

Possible… but Practical? HUD’s New 12 Hour Cyber Incident Reporting Requirement for FHA-Approved Mortgagees

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On May 23, 2024, the U.S. Department of Housing and Urban Development (“HUD”) issued requirements, effective immediately, for all FHA-approved mortgagees to report certain cyber incidents to HUD within 12 hours of detection....more

Orrick, Herrington & Sutcliffe LLP

HUD Issues New Heightened Cybersecurity Incident Notice Requirements: 5 Things to Know

Orrick, Herrington & Sutcliffe LLP on

The U.S. Department of Housing and Urban Development (HUD) has issued new heightened cybersecurity incident notice requirements that take effect immediately. FHA-approved mortgagees are now required to notify HUD of any...more

Sheppard Mullin Richter & Hampton LLP

FHA’s Releases 12-Hour Cyber Incident Notification Rule

Sheppard Mullin Richter & Hampton LLP on

On May 23, the U.S. Department of Housing and Urban Development (HUD) announced that Federal Housing Administration-approved Mortgagees are subject to a heightened cybersecurity incident reporting regime. The new requirement,...more

Cooley LLP

Federal Housing Administration Adopts New Cyber Reporting Requirements

Cooley LLP on

The Federal Housing Administration (FHA) published Mortgagee Letter 2024-10 (Letter) on May 23, 2024, requiring FHA-approved Mortgagees to report certain cyber incidents to the Department of Housing and Urban Development...more

Alston & Bird

Ginnie Mae Imposes Cybersecurity Incident Notification Obligation

Alston & Bird on

What Happened? On March 4, 2024, Ginnie Mae issued All Participant Memorandum (APM) 24-02 to impose a new cybersecurity incident notification requirement. Ginnie Mae has also amended its Mortgage-Backed Securities Guide to...more

Nutter McClennen & Fish LLP

Nutter Bank Report: July 2023

Nutter McClennen & Fish LLP on

The Federal Reserve has announced that its FedNowSM Service, a new interbank settlement service with clearing functionality to support instant payments, went live on July 20 with 35 early-adopting banks and credit unions. The...more

Harris Beach PLLC

When in Doubt, Report Cybersecurity Events

Harris Beach PLLC on

The New York State Department of Financial Services (DFS) announced the $1.5 million settlement of its investigation of Residential Mortgage Services (RMS) surrounding the unauthorized access to an email account which...more

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