A&B Abstract:
On November 20, 2019, the Consumer Financial Protection Bureau (the “Bureau” or “CFPB”) published its Fall 2019 Rulemaking Agenda (the “Rulemaking Agenda”) as part of the Fall 2019 Unified Agenda of Federal...more
A&B Abstract:
Maryland’s inspection fee statute has been interpreted by the Maryland Court of Appeals and the Maryland Office of the Commissioner of Financial Regulation (“OCFR”) to apply both at the time of origination...more
A&B ABstract: Servicers should be aware of changes being made to the Department of Defense’s (“DoD”) Servicemembers Civil Relief Act (“SCRA”) website in response to a complaint that the DoD failed to protect the privacy of...more
A&B Abstract: In an effort to incent large depository institutions to return to FHA lending, the U.S. Department of Housing and Urban Development (“HUD”) and the U.S. Department of Justice (“DOJ”) entered into a Memorandum...more
A&B ABstract: Amid growing concerns of a student loan crisis, proposed Massachusetts H. 3977 is worth watching....more
A&B ABstract: On October 18, 2019, the Supreme Court granted certiorari in Seila Law v. CFPB to decide the constitutionality of the Consumer Financial Protection Bureau’s leadership structure....more
A&B ABstract: The South Carolina Department of Consumer Affairs (“Department”) announced that it is soliciting comments on proposed Regulation 28-75, which would provide mortgage lenders with additional guidance on the...more
A&B Abstract: In a series of 2019 settlement agreements, the Massachusetts Attorney General has publicly provided insights into her compliance expectations for residential mortgage servicers. ...more
A&B ABstract -
The Conference of State Bank Supervisors (CSBS) revolutionized state licensing with the National Mortgage Licensing System (NMLS) by providing a more uniform approach to state licensing of non-bank financial...more
A&B Abstract This blog post is part five of a five-part series examining the Consumer Financial Protection Bureau’s (the “CFPB” or “Bureau”) proposed rule amending Regulation F (the “Proposed Rule”), which implements the Fair...more
It’s hot out there and the market’s even hotter! Cool off with the latest issue of the Structured Finance Spectrum, our newsletter featuring what’s new and newsworthy in structured finance.
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A&B Abstract:
Effective October 1, 2019, the Maryland Commissioner of Financial Regulation will impose new net worth requirements on licensees. ...more
A&B Abstract: Effective October 1, 2019 only Connecticut licensed attorneys can conduct real estate closings in the state for certain mortgage loan transactions....more
A&B Abstract: If enacted, the recently introduced Appraisal Reform Act of 2019 would amend RESPA to require the disclosure of the appraisal management fee separate from the appraisal fee on the loan estimate (LE) and closing...more
On June 25, the Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) kicked off its symposia series with a panel discussion of whether the Bureau should use its rulemaking authority to further define “abusive acts or...more
Original creditors, third-party debt collection agencies, and buyers of delinquent consumer debt who hire third parties to collect consumer debt on their behalf, take note. According to the Supreme Judicial Court, the...more
SECURITIZATION SIDE NOTES – EU Risk Retention: Did This Come with a Gift Receipt? We’d Like to Return It -
A new year brings new laws and regulations into effect, in this case a complicated and confusing gift from our...more
REGULATORY REPORT – FASB’s New Current Expected Credit Loss Model -
Sharpen your pencils and put on your green eyeshades – the Financial Accounting Standards Board is making major changes to the credit loss accounting...more
On May 24, 2018, the President signed the Economic Growth, Regulatory Relief, and Consumer Protection Act into law. A product of rare bipartisanship, the Regulatory Relief Act makes modest reforms to the Dodd–Frank Wall...more
Maryland, suspicious of what it sees as moves to dismantle protections of student loan borrowers, is creating new hoops for passive, secondary market investors to jump through. Our Financial Services & Products Group reviews...more
New rules from the Consumer Financial Protection Bureau eliminate mortgage servicers’ blanket exemption for sending statements to debtors in bankruptcy. Our Bankruptcy & Financial Restructuring and Financial Services &...more
A continuation of the market trends from last year can be expected in 2018. Structured finance and securitization markets had a period of relative calm in 2017 as new regulations were incorporated into transactions. While no...more
2/7/2018
/ Capital Requirements ,
Consumer Financial Protection Bureau (CFPB) ,
EDGAR ,
Financial Institutions ,
FIRREA ,
Foreclosure ,
Mortgages ,
Securitization ,
Structured Finance ,
Tax Cuts and Jobs Act ,
TILA-RESPA Integrated Disclosure Rule (TRID)
The Appraisal Subcommittee of the Federal Financial Institutions Examination Council (ASC) issued its anticipated final rule providing for collection and transmission of the appraisal management company (AMC) annual national...more
Project Catalyst finally takes off, giving companies a chance to pursue innovative strategies and products in the financial services sphere. Our Financial Services & Products Group takes stock of the CFPB’s very first...more
On July 31, the Consumer Financial Protection Bureau (CFPB) issued Compliance Bulletin 2017-01: Phone Pay Fees. The Bulletin addresses pay-by-phone services, defined to include (1) providing consumers with the option of...more