News & Analysis as of

Loans Coronavirus/COVID-19 Financial Services Industry

Ballard Spahr LLP

Overturning of Chevron Boosts Challenges to SBA PPP Loan Forgiveness Denials

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The U.S. Supreme Court’s recent overturning of the Chevron Deference Doctrine calls into question several Chevron-based federal court rulings allowing the Small Business Administration (SBA) to exclude many categories of...more

Paul Hastings LLP

Ticking Fees Trends in the U.S. Loan Market

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Ticking fees for extended commitment periods (often over at least 4 to 6-months) have long been a feature of committed financings in the U.S. loan market. Such fee structures were initially most common in syndicated deals,...more

Bradley Arant Boult Cummings LLP

Buying Distressed Operations in the Skilled Nursing Facility Space

The “Nursing Home Covid-19 Data Dashboard” maintained by the Centers for Disease Control and Prevention (CDC) shows that COVID-19 had an unusually intense impact on the long term care community. Cases among nursing home...more

Bradley Arant Boult Cummings LLP

Distressed Long Term Care Assets: A Lender’s Perspective

Loan defaults and financial distress among long term care (LTC) facilities, such as skilled nursing facilities (SNFs), assisted living facilities (ALFs) and memory care facilities, are on the rise. The COVID-19 pandemic has...more

White & Case LLP

Financial markets in the Asia-Pacific region

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The COVID-19 pandemic's severe impact on the global economy continued through 2020 and 2021, and the Asia-Pacific region (APAC) was no exception. Despite the many current challenges, justified optimism and robust deal...more

Pullman & Comley, LLC

Manufacturing Updates - Fall 2021

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Welcome to Manufacturing Updates, Pullman & Comley’s quarterly publication that summarizes important legal developments for manufacturers. Manufacturing Updates brings together insights from attorneys across our many practice...more

White & Case LLP

Outlook for Africa brightens after challenging first half to the year

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African loan and bond issuance fell by just under 10% in the first half of 2021, year-on-year, with lenders still jittery after Zambia missed a bond repayment in November 2020 to become the first African sovereign to default...more

Hogan Lovells

Banking and finance regulatory news, May 2021 # 3

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COVID-19: FCA statement on regulatory treatment of Recovery Loan Scheme - The FCA has published a statement on the regulatory treatment of the UK Recovery Loan Scheme (RLS), which was launched on 6 April 2021 as part of the...more

Akerman LLP

FHFA Extends Certain COVID-Related Loan Flexibilities

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On April 21, 2021, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac will extend certain loan origination flexibilities, including alternative appraisals on purchase and rate-term refinance...more

Goodwin

CFPB Grants No-Action Letter for Proposed Small-Dollar Credit Product

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In the News. The Consumer Financial Protection Bureau (CFPB) granted a no-action letter (NAL) regarding a proposed small-dollar credit product and sought comment on the CFPB’s plan to study how consumers locate, comprehend...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights: Issue 8, October 2020

Servicemembers’ Civil Relief Act - What You Need to Know - Between the Civil War and 1940, the United States periodically had legislation that prevented lawsuits against soldiers and sailors during times of conflict. Then,...more

Manatt, Phelps & Phillips, LLP

FFIEC Guidance Continues to Encourage Prudent Credit Accommodations

On August 3, 2020, the Federal Financial Institutions Examination Council1 (FFIEC) issued a new joint statement of principles for banks to consider while working with their loan customers as the end of COVID-19 initial loan...more

Foodman CPAs & Advisors

What do you do if you are a Financial Institution with COVID-19 Loan Accommodations near the end?

On August 3, 2020, the Federal Financial Institutions Examination Council (FFIEC)  issued a Joint Statement on Additional Loan Accommodations Related to COVID-19 regarding loans  that are near the end of an initial loan...more

Ballard Spahr LLP

FFIEC Issues Joint Statement on Additional Loan Accommodations Related to COVID-19

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On August 3, 2020, the Federal Financial Institutions Examination Council (“FFIEC”) issued a joint statement to provide prudent risk management and consumer protection principles for financial institutions to consider when...more

Hogan Lovells

Consumer finance regulatory news, June 2020 #2

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COVID-19: FCA proposes further support for credit card, personal loan and overdraft customers - On 19 June 2020, the UK Financial Conduct Authority (FCA) published proposed updated temporary guidance for firms relating to...more

Ballard Spahr LLP

HUD Issues Procedures for Endorsement of Mortgages in a COVID-19 Forbearance

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On June 4, 2020, the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2020-16 to address the endorsement for FHA insurance of mortgage loans in a COVID-19 forbearance. ...more

Akin Gump Strauss Hauer & Feld LLP

Exploring European Bonds, Loans and Covenants

Akin Gump London-based financial restructuring partner Liz Osborne and finance partners Amy Kennedy and Stephen Peppiatt discuss European bonds, loans and the various flavors of covenants in the current liquidity constrained...more

Goodwin

Federal Agencies Encourage Access to Small-Dollar Loans in Light of COVID-19

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This week LenderLaw Watch covers developments related to small-dollar loans in response to the COVID-19 crisis. Every year the Board of Governors of the Federal Reserve System (Federal Reserve) conducts its Survey of...more

Bilzin Sumberg

Hunter or Hunted? Mortgage Industry Players Should Consider Their Options

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In the mortgage industry, as in many others, uncertainty abounds as companies attempt to adjust to the “current normal.” One thing residential mortgage loan originators and servicers believe is clear, however, is that they...more

Winstead PC

[Webinar] Administering A Trust In a Recession: Issues Surrounding Trust Loans To Beneficiaries - April 21st, 10:00 am - 10:45 am...

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This presentation will address beneficiaries requesting loans from trustees. There are multiple issues that arise regarding the trustee’s authority to do so under the trust’s language and statutory and common law, and the...more

McNees Wallace & Nurick LLC

Coronavirus Credit Checklist For Businesses

The following is not a white paper or an invitation to participate in a webinar. It is offered as a useful checklist for businesses to evaluate potential additional credit needs and to understand problems that could arise...more

Brownstein Hyatt Farber Schreck

COVID-19—Evaluating Material Adverse Change Clauses in Loan Agreements

Access to credit is a question of paramount importance to borrowers navigating uncertain times, and as market participants work to assess the impact of COVID-19 on the broader economy, the question has arisen as to whether...more

Balch & Bingham LLP

Tackling the COVID-19 Crisis – 10 Tips for Commercial Lenders

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The declaration of the surge in cases of COVID-19 aka Coronavirus as a global pandemic appears to have caught many people off guard. Governments, businesses, and individuals seem largely to have been unprepared to handle the...more

Hogan Lovells

Impact of coronavirus on loans in Italy

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We describe below the legal impact on Italian loan transactions of the current health emergency caused by COVID-19 in light of the latest legislative measures, including a suspension of interest and principal payments on...more

Arnall Golden Gregory LLP

Mindfulness in the Time of Coronavirus: Practical Advice to Lenders and Servicers (Commercial Loan Modification Requests)

Phones are ringing; borrowers are panicked and so are their lenders and loan servicers. Borrowers who were profitable, good customers three or four weeks ago are suddenly struggling in the wake of the coronavirus crisis. They...more

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