Several industry updates that affect manufactured housing either take effect October 1, 2020, or will be unveiled sometime later this month. Detailed below is a summary of recent developments....more
10/2/2020
/ Borrowers ,
Building Codes ,
Consumer Financial Products ,
HUD ,
International Chamber of Commerce (ICC) ,
Lenders ,
Manufactured Housing ,
Maryland ,
Mobile Homes ,
Mortgage Loan Originators ,
New Legislation ,
Notice Requirements ,
Preemption ,
Repossess ,
Safety Standards ,
State and Local Government ,
Truth in Lending Act (TILA)
Governor Andrew Cuomo signed S8428/A10530 and S8243-C/A10351-B into law on June 17, 2020. Collectively, in relevant part, the legislation creates N.Y. Banking Law § 9-x, which relates to residential forbearances as a result...more
8/5/2020
/ Bankers ,
Banks ,
Contract Terms ,
Coronavirus/COVID-19 ,
Credit Unions ,
Federal Credit Unions ,
Financial Institutions ,
Forbearance Agreements ,
Foreign Banks ,
Governor Cuomo ,
Hardship Extensions ,
Investment Property ,
Investment Trust Companies ,
Mortgage Escrow Account ,
Mortgage Interest ,
Mortgage Servicers ,
New Legislation ,
New York ,
NYDFS ,
Private Trust Companies ,
Relief Measures ,
Savings and Loan Companies ,
State and Local Government ,
State Regulators ,
Vacation Homes
On June 17, 2020, Governor Andrew Cuomo signed S8428/A10530 and S8243-C/A10351-B into law. Collectively, in relevant part, the legislation creates N.Y. Banking Law § 9-x, which relates to residential forbearances as a result...more
6/23/2020
/ Borrowers ,
Compliance ,
Coronavirus/COVID-19 ,
Department of Financial Services ,
Executive Orders ,
Fannie Mae ,
FHA Loans ,
Financial Institutions ,
Forbearance Agreements ,
Freddie Mac ,
Ginnie Mae ,
Governor Cuomo ,
Loan Servicer ,
Loss Mitigation ,
Mortgages ,
New Legislation ,
New York ,
Relief Measures ,
State and Local Government ,
Veterans Administration