News & Analysis as of

Loans Refinancing Mortgages

Sheppard Mullin Richter & Hampton LLP

CFPB Penalizes VA Lender for Misrepresenting Cost of Cash-Out Refinance Loans

On August 29, the CFPB issued a consent order against a non-bank direct mortgage lender for misrepresenting the cost of its cash-out refinance loans, which are guaranteed under the VA home loan program, to active-duty...more

Ballard Spahr LLP

VA Proposes Supplemental Refinance Loan Rule

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As previously reported, in November 2022 the Department of Veterans Affairs (VA) issued a proposal to update its rules for interest rate reduction refinancing loans (often referred to as “IRRRLs”) to conform with VA loan...more

Orrick, Herrington & Sutcliffe LLP

CFPB posts blog entry analyzing cash-out refinancing

On December 18, the CFPB posted a blog entry regarding cash-out refinance mortgages and their borrowers between 2013 to 2023. According to the entry, which noted reflects the authors’ views, and not those of the CFPB,...more

Ballard Spahr LLP

CFPB Releases Study of Refinance Mortgage Loans Between 2013 and 2023

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The CFPB recently released results of a study of residential mortgage refinance loans from the first quarter of 2013 to the first quarter of 2023, focusing on differences between cash-out and non-cash-out (or rate and term)...more

Ballard Spahr LLP

Maryland to Increase IDOT Exemption Threshold Effective July 1, 2024

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Summary - The threshold for indemnity deed of trust (IDOT) recordation tax deferral in Maryland increased from $3,000,000 to $12,500,000, effective July 1, 2024. This is welcome news for commercial real estate owners and...more

Cozen O'Connor

The Great Repricing: Commercial Real Estate Eyes the Abyss

Cozen O'Connor on

The U.S. commercial real estate market, valued at $20 trillion in 2021 by some estimates, touches nearly every facet of urban and suburban dwellers’ lives – from where they live (multi-family housing or apartment buildings)...more

Akerman LLP

FHFA Extends Certain COVID-Related Loan Flexibilities

Akerman LLP on

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

Stange Law Firm, PC

Should My Name Be Taken Off The Mortgage?

Stange Law Firm, PC on

In many divorces, the marital home is one of the most valuable assets of the parties. There are three general possibilities in what to do with the marital home in a divorce...more

Jaburg Wilk

Inadvertent Transmutation - How What was ‘Mine’ became ‘Ours’

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We frequently represent clients who have engaged in some type of transaction with his or her spouse during the marriage that inadvertently causes them to lose certain rights to property unknowingly. This often happens in the...more

Burr & Forman

Did the Fourth Circuit Just Create a Cause of Action for “Unconscionable Inducement” Under West Virginia Law?

Burr & Forman on

In McFarland v. Wells Fargo Bank, N.A., 14-2126 (4th Cir. Jan. 15, 2016), the Fourth Circuit Court of Appeals examined the argument that a loan was substantively unconscionable because it vastly exceeded the worth of the...more

Jaburg Wilk

What Factors Establish The Lien Priority Of A Refinanced Loan?

Jaburg Wilk on

The legal doctrine of "equitable subrogation" has recently become familiar to lenders who refinanced or will be refinancing existing loans secured by real property....more

Ballard Spahr LLP

CFPB Final Ability-To-Repay Rule Prompts Cautious Optimism from Industry

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The CFPB has issued its long-awaited ability to repay/qualified mortgage rule, and at first glance, it appears to warrant cautious optimism for the mortgage industry....more

Saul Ewing Arnstein & Lehr LLP

Maryland taxes on refinancings to increase – the end of (new) "IDOTS"

On May 22, 2012, Maryland's Governor O'Malley signed legislation mandating that indemnity mortgages and indemnity deeds of trust will be subject to recordation taxes. Property owners now have just over a month to refinance...more

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