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Steptoe & Johnson PLLC

HELOC Funds Accessed With a Credit Card: No Right To Offset Absent Express Agreement

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The idea of borrowing against equity in a residential home through a second mortgage has been around for almost a century. However, the popularity of a home equity line of credit (HELOC) increased in the 1980s following the...more

Mayer Brown

What To Know About Home Equity Products

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Join us for this episode of Financial Services Focus, where Lauren Pryor, Holly Spencer Bunting and Darius Horton delve into the rising popularity of home equity products, discussing how these offerings provide homeowners...more

GeoDataVision

The new CRA: Surprises and Problems by Omission

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I have written a number of articles about the new CRA and the problems its requirements will impose on banks. But there are also problems posed by what the new Rule omits....more

Ballard Spahr LLP

CFPB Releases 2022 Mortgage Market Activity and Trends Report

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The CFPB recently released a report entitled Data Point: 2022 Mortgage Market Activity and Trends based on 2022 data reported by lenders under the Home Mortgage Disclosure Act (HMDA)....more

Dechert LLP

Some COVID-Accelerated Changes in the Residential Home Buying and Financing Space Are Here to Stay

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Fintech has been changing the process of buying a residential home for years, but the pandemic has boosted the speed of change into hyperdrive. While some of these innovations may not be required after shutdowns are eased and...more

Holland & Knight LLP

CFPB Issues Proposed Libor Transition Rules

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The Consumer Financial Protection Bureau (the Bureau) has issued proposed regulations (Proposed Regulations) to facilitate the transition away from Libor (the London Interbank Offered Rate) in the consumer credit market, and...more

Ballard Spahr LLP

DOJ settles redlining lawsuit against First Merchants Bank

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The U.S. Department of Justice announced last Thursday that it had reached an agreement with First Merchants Bank, an Indiana state-chartered bank, to settle the redlining lawsuit that the DOJ filed against the bank on June...more

Ballard Spahr LLP

CFPB Provides Additional Guidance on HMDA Partial Exemption

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The CFPB recently released an interpretive and procedural rule to implement and clarify the partial exemption from the Home Mortgage Disclosure Act (HMDA) adopted in the Economic Growth, Regulatory Relief, and Consumer...more

Troutman Pepper

Texas' Proposition 2 Expands Home Equity Loan Market for Lenders and Consumers

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On November 7, Texans approved Proposition 2 by a more than 2-1 majority. The measure amends section 50(a) of Article 16 of the Texas Constitution, making changes to the home equity loan (HEL) market in the state. Notably,...more

Ballard Spahr LLP

CFPB Finalizes Alignment of Regulations B and C on Consumer Ethnicity and Race Information

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On September 21, the CFPB finalized its proposal to amend Regulation B requirements related to collection of consumer ethnicity and race information, in order to resolve the differences between Regulation B and revised...more

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