News & Analysis as of

Financial Services Industry Mortgages Moratorium

Cadwalader, Wickersham & Taft LLP

Stay Just a Little Bit Longer: Not Jackson Browne but the Statute of Limitations

The Second Department recently held  in Trento 67, LLC v. OneWest Bank, N.A., et. al  that the FHA COVID-19 moratorium constituted a stay of foreclosures for federally-backed mortgages, and thus tolled the statute of...more

Troutman Pepper

VA Announces “Targeted Foreclosure Moratorium” on VA Loans Through December 31, 2024

Troutman Pepper on

On May 29, the Department of Veterans Affairs (VA) announced a targeted foreclosure moratorium on VA-guaranteed loans intended to allow servicers sufficient time to implement the Veterans Affairs Servicing Purchase (VASP)...more

Ballard Spahr LLP

VA Urges Servicers to Implement Foreclosure Moratorium on VA Loans

Ballard Spahr LLP on

The U.S. Department of Veterans Affairs (VA) recently issued Circular 26-23-25 in which VA “is strongly encouraging a foreclosure moratorium on all VA-guaranteed loans through May 31, 2024.” Additionally, VA “urges servicers...more

Bradley Arant Boult Cummings LLP

Detailed Breakdown of the CFPB’s COVID-19 Mortgage Servicing Final Rule

With the release of the Consumer Financial Protection Bureau’s COVID-19 mortgage servicing final rule and an August 31, 2021, effective date that will be here before we know it, the race is on for servicers to digest the...more

Nutter McClennen & Fish LLP

Nutter Bank Report: April 2021

CFPB Takes Steps to Avoid a Possible Wave of Home Mortgage Loan Foreclosures - The CFPB has issued guidance to mortgage servicers, including banks that service mortgage loans for third-party noteholders, that the CFPB...more

Holland & Knight LLP

California Legislative Roundup 2020: Financial Services

Holland & Knight LLP on

Notwithstanding a pandemic-induced winnowing of legislative priorities this year, California has passed a handful of new bills to regulate discrete areas of the financial services industry, including student loan servicing,...more

Hinshaw & Culbertson - Consumer Financial...

Consumer Law Hinsights – July 2020

Welcome to Consumer Law Hinsights?a monthly compilation of nationwide consumer protection cases of interest to financial services and accounts receivable management companies. This edition highlights our interactive COVID-19...more

Ballard Spahr LLP

VA Extends Eviction Moratorium Through August 31

Ballard Spahr LLP on

On June 18, 2020, the U.S. Department of Veterans Affairs (VA) in Circular 26-20-23 (dated June 17, 2020) extended the eviction moratorium for properties secured by VA guaranteed loans from June 30, 2020 to August 31....more

Akerman LLP

FHFA Extends Eviction and Foreclosure Moratorium

Akerman LLP on

On May 14, 2020, the Federal Housing Finance Agency (FHFA) announced an extension of its eviction and foreclosure moratorium due to the COVID-19 pandemic until June 30, 2020. This is an extension of FHFA's March 18 directive...more

McGlinchey Stafford

New York Issues Series of Executive Orders Providing Relief to Borrowers Impacted by COVID-19

McGlinchey Stafford on

On March 7, 2020, Governor Andrew Cuomo issued Executive Order 202 declaring a state of emergency for the entire State of New York as a result of the COVID-19 pandemic. Since that time, the Governor has issued a series of...more

Bricker Graydon LLP

Financial Services Law: HUD/FHFA announce details of foreclosure and eviction moratorium

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On March 18, 2020, President Trump announced during a White House briefing that “the Department of Housing and Urban Development (HUD) will be providing immediate relief to renters and homeowners by suspending all...more

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