Mortgages, Proposed Legislation

Troutman Pepper Weekly Consumer Financial Services Newsletter- October 2024 # 4

Troutman Pepper on 10/23/2024

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Cozen Currents: Is Harris the Answer?

Cozen O'Connor on 7/24/2024

The Cozen Lens - While it’s becoming ever clearer Vice President Harris is likely to be the Democratic nominee following President Biden’s decision to step aside, it’s less clear what the impact will be on the presidential...more

Revised Trigger Leads Bill Introduced in U.S. House of Representatives

Ballard Spahr LLP on 2/22/2024

As previously reported, in 2023 bills were introduced in the U.S. House of Representatives (H.R. 4198) and the U.S. Senate (S. 3502) to amend the Fair Credit Reporting Act (FCRA) to curtail the practice of trigger leads with...more

Wisconsin Senate Proposes New Bill to Revise Money Transmission, Consumer Lenders, Collection Agency, and Other Financial Services...

Ballard Spahr LLP on 1/22/2024

In November 2023, S.B. 668 was introduced in the Wisconsin Senate. S.B. 668 would make sweeping changes to the state laws governing financial service providers. The bill creates a pathway for the Wisconsin Department of...more

Bills To Curtail Trigger Leads Introduced in Congress

Ballard Spahr LLP on 12/20/2023

Bills have been introduced in the U.S. House of Representatives (H.R. 4198) and the U.S. Senate (S. 3502) to amend the Fair Credit Reporting Act (FCRA) to curtail the practice of trigger leads with mortgage loans....more

Texas Home Equity Lenders: Understanding New Legislative Changes

McGlinchey Stafford on 6/15/2023

Release of Liens- One statute specifically affects mortgage servicers and mortgagees. The statute (House Bill 219) adds Section 343.108 to the Texas Finance Code, which requires a mortgage servicer or mortgagee to deliver a...more

Federal Reserve Announces Results From the Review of the Supervision and Regulation of SVB

Goodwin on 5/5/2023

Regulatory Developments - Federal Reserve Announces Results From the Review of the Supervision and Regulation of SVB - On April 28, the Federal Reserve released its report analyzing SVB’s failure (Report). The Report...more

Poland: Government support programmes for first-time home buyers - part II

Miller Canfield on 4/13/2023

Kontynuujemy serię artykułów poświęconych rządowym programom wsparcia młodych rodzin, czy tez szerzej, młodych ludzi, w nabyciu swojego pierwszego lokum – domu albo mieszkania. W pierwszym, otwierającym artykule serii,...more

New York State Legislators Reintroduce Bill Proposing Tax on Mezzanine Debt and Preferred Equity Investments

Akerman LLP on 2/8/2023

In the January 2023 legislative session, New York State Senators Salazar, Brisport, Hoylman, Jackson, Myrie, and Rivera submitted a bill, S-318 which seeks to impose a mortgage tax on mezzanine debt on, and preferred equity...more

Proposed Tax on Real Estate Mezzanine Debt and Preferred Equity Financing…Once Again.

Tannenbaum Helpern Syracuse & Hirschtritt LLP on 1/18/2023

Earlier this month, the New York State Senate (S318) and Assembly (A407) reintroduced proposed legislation seeking to extend the New York State mortgage recording tax to mezzanine debt and preferred equity financings. This...more

Mortgage Recording Tax on Mezzanine Debt, Preferred Equity Again Proposed in N.Y. Senate

Holland & Knight LLP on 1/11/2023

Legislation to impose a tax on the creation of mezzanine debt and preferred equity was reintroduced on Jan. 4, 2023, in the last two sessions of the New York state legislature, by the same state senators who proposed it...more

New fair banking CRA legislation: House committee on financial services (HR 8833)

BCLP on 9/21/2022

US House of Representatives Committee on Financial Services Chairwoman, Maxine Waters (D-CA), has introduced new legislation H.R. 8833 “Making Communities Stronger through the Community Reinvestment Act.” The proposed...more

Bill to Overhaul SC Tax Sale Procedure Would Expand Notice to Mortgagees

Bradley Arant Boult Cummings LLP on 3/23/2021

A bill pending before the South Carolina General Assembly, SB 102, would rewrite the procedure most commonly used to collect unpaid property taxes through the sale of real estate and mobile homes. Among other important...more

Legislation Introduced To Extend CARES And CAA Bankruptcy Provisions

Levenfeld Pearlstein, LLC on 3/9/2021

On February 25, 2021, Senators Durbin and Grassley introduced bipartisan legislation to extend the expiration dates of certain bankruptcy provisions of the CARES Act and the Consolidated Appropriations Act to March 27, 2022. ...more

The Changes Continue | February 2021 | Issue No. 21: New York Assembly-Sponsored Legislation Proposes New Tax on Mezzanine Debt...

Cadwalader, Wickersham & Taft LLP on 3/5/2021

Assembly Bill A3139 was introduced by Assembly Member Harvey Epstein on January 22, 2021. The bill is currently in committee but, if enacted, it will amend New York’s Real Property Law and Tax Law to require the recording of...more

New York State Assembly Reintroduces Legislation Imposing Recording Tax on Mezzanine Debt and Certain Preferred Equity Investments

Pillsbury Winthrop Shaw Pittman LLP on 2/17/2021

On January 22, 2021, several New York State Assembly Members reintroduced legislation (Bill No. A03139) that seeks to amend New York’s Real Property Law and Tax Law, New York’s Tax Law and New York’s Uniform Commercial Code...more

New York State Legislature Reintroduces Bills to Extend Mortgage Recording Tax to Mezzanine Debt and Preferred Equity

White and Williams LLP on 2/15/2021

Companion bills in the New York State Legislature, Assembly Bill No. A3139 and Senate Bill No. S3074, if enacted, would subject mezzanine loans and preferred equity investments to the same recording and taxation requirements...more

New York State is Considering a (New) Tax That Would Apply to Mezzanine Loans and Preferred Equity

Goulston & Storrs PC on 10/6/2020

A New York State legislative proposal (currently in committee review) would impose mortgage recording tax on mezzanine debt and preferred equity investments related to real property upon which a senior loan is being...more

Massachusetts Moratorium Marches On

McGlinchey Stafford on 7/22/2020

On July 21, Massachusetts Governor Charlie Baker extended the moratorium on evictions and foreclosures in Massachusetts (which was set to expire on August 18, 2020) by 60 days to October 17, 2020, due to the ongoing...more

COVID-19 WATCH LIST – Senators Warren and Brown Propose Pausing All Debt Payments

Spilman Thomas & Battle, PLLC on 5/6/2020

Sen. Elizabeth Warren (D-Mass.) and Sen. Sherrod Brown (D-Ohio) have released a proposal calling on Congress to provide additional protections for consumers during the COVID-19 pandemic. Their proposal notes that an...more

All-Consuming: Financial Litigation Insights - May 2020

Spilman Thomas & Battle, PLLC on 5/5/2020

Welcome to our first formal edition of All Consuming - our e-newsletter devoted to financial litigation insights. Our goal is to bring you the most up-to-date information that allows you to be proactive in your business.... ...more

Watch List - Proposed Rent and Mortgage Cancellation Act of 2020 Suspends Payments During Pandemic but Requires Landlords and...

Spilman Thomas & Battle, PLLC on 4/21/2020

On April 17, a bill was introduced in the United States House of Representatives seeking to create the Rent and Mortgage Cancellation Act of 2020. The primary feature of the bill is it would suspend all rent and mortgage...more

Mortgages › Proposed Legislation