“Although there may be other constitutional checks on Congress’ authority to create and fund an administrative agency, specifying the source and purpose is all the control the Appropriations Clause requires.” With these...more
Less than three years after the U.S. Supreme Court reviewed the CFPB’s appointment structure, the bureau again finds itself before the Court in what could prove the most consequential case for the financial services industry...more
On June 17, New York Gov. Andrew Cuomo signed one of the most far-reaching COVID-19 mortgage assistance state programs yet into law. Affected servicers and lenders will soon need to decide whether they should find a way to...more
6/23/2020
/ Compliance ,
Constitutional Challenges ,
Contracts Clause ,
Coronavirus/COVID-19 ,
Forbearance Agreements ,
Governor Cuomo ,
Loan Modifications ,
Loss Mitigation ,
Mortgage Lenders ,
Mortgage Servicers ,
Relief Measures
The Ninth Circuit sent shockwaves through the mortgage industry when it held that NRS 116—the statute allowing an HOA to impose a nominal super-priority lien that can extinguish a senior deed of trust when foreclosed—was...more
1/27/2017
/ Appeals ,
Constitutional Challenges ,
Deed of Trust ,
Due Process ,
Federal v State Law Application ,
Foreclosure ,
Homeowners Association (HOA) ,
Mortgage Lenders ,
Notice Requirements ,
NV Supreme Court ,
Property Liens ,
Super Priority
In a landmark decision issued last week, the U.S. Court of Appeals for the D.C. Circuit held that the Consumer Financial Protection Bureau’s (CFPB) structure violated the Constitution’s separation-of-powers requirements. In...more
10/17/2016
/ Anti-Kickback Statute ,
Appeals ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Director Removal ,
Dodd-Frank ,
Government Agencies ,
Mortgage Lenders ,
PHH Corp. v CFPB ,
Removal At-Will ,
Removal For-Cause ,
RESPA ,
Reversal ,
Separation of Powers ,
Single Director