Fair Lending Shake-Ups: CFPB Vacates Townstone Settlement, FHFA Ends GSEs' Special Purpose Credit Programs — The Consumer Finance Podcast
The Latest on Junk Fees and New York's Foreclosure Abuse Prevention Act — The Consumer Finance Podcast
The Latest on HUD's Disparate Impact Rule - The Consumer Finance Podcast
Title Insurance and Your Transaction
Law Brief®: Robert Wolf, Alexander Tiktin and Richard Schoenstein Discuss the Continuing Foreclosure/Eviction Moratorium
Credit Eco to Go Podcast - Not a Normal Mortgage Crisis: How the Mortgage Industry Weathered the Pandemic
Not a Normal Mortgage Crisis: How the Mortgage Industry Weathered the Pandemic
Shortly after Mayer Brown published an update on legislation introduced to exempt passive trusts and other assignees of certain Maryland loans from licensing, Governor Wes Moore signed the legislation into law. The Maryland...more
Our Financial Services Group reviews the Maryland Secondary Market Stability Act, which overrides the Office of Financial Regulation’s requirement that passive trusts holding Maryland loans in residential mortgage-backed...more
In a highly anticipated and welcome development, on April 22, 2025, Maryland Governor Wes Moore signed into law the Maryland Secondary Market Stability Act of 2025 (emergency measures HB 1516 and its companion SB 1026) with...more
In this episode of The Consumer Finance Podcast, Chris Willis is joined by Troutman Pepper Locke colleagues Lori Sommerfield and Lane Page to dissect two unexpected fair lending developments under the new Trump...more
In January 2025 the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2025-06 revising servicing and claims requirements and loss mitigation options for FHA insured mortgage loans effective...more
A new proposal in California, Senate Bill 825 (SB 825), is intended to strengthen the enforcement authority of the state's Department of Financial Protection and Innovation (DFPI) by clarifying that it can take action against...more
The CFPB confirmed in a recent memo to staff that it is shifting its tone on supervision and enforcement—even as reports circulate about significant staffing cuts and potential structural changes at the agency. ...more
In a prior Legal Update, we discussed the introduction of legislation in the Maryland General Assembly that would amend Maryland law to address guidance issued by the Maryland Office of Financial Regulation (“OFR”). That...more
In this month's article, we share some of our top "bites" covered during the April 2025 webinar....more
Eight years ago, on March 1, 2017, the New York Department of Financial Services enacted its landmark cybersecurity regulation covering financial services companies, 23 NYCRR Part 500, known as “Part 500.” Part 500 was the...more
In the previous 3 articles of this 4-part series I identified and explained three types of fatal flaws in the 2023 CRA rule: 1. The unreliable and sometimes misleading performance ratings based on unrealistic assessment...more
Legislation to prohibit so-called “trigger leads” in the homebuying process once again has been reintroduced in the House and Senate....more
The UK Financial Conduct Authority (FCA) has published a consultation on proposed amendments to the Prudential Regulation Authority's (PRA) rulebook and FCA guidance on the de minimis threshold for the loan to income flow...more
On April 4, the U.S. District Court for the Northern District of Illinois received an amicus brief from multiple nonprofits opposing a joint motion to vacate a final judgment in a case involving the CFPB and a mortgage...more
The latest edition of the Consumer Finance State Roundup highlights recently enacted measures of potential interest from three states: Arkansas: House Bill 1184, which we expect to take effect on or about August 8, amends...more
If you are buying or financing beachfront property in Florida, you should be aware of the state’s Beach and Shore Preservation Act in Chapter 161, Florida Statutes. This Act was adopted by the legislature to regulate certain...more
The CFPB has announced that Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data for 2024 are now available on the Federal Financial Institutions Examination Council’s (FFIEC) HMDA Platform for...more
The U.S. Department of Housing and Urban Development (HUD) has issued Mortgagee Letter 2025-09, which updates the residency requirements for borrowers seeking Federal Housing Authority (FHA) insured financing....more
On April 2, the California Senate Banking and Financial Institutions Committee voted to move forward with legislation that would expand the DFPI’s powers to oversee businesses traditionally governed by the CFPB. The bill, SB...more
On March 31, the CFPB announced it published the 2024 HMDA Modified Loan Application Register data on the FFIEC’s HMDA Platform. The data, sourced from nearly 5,000 HMDA filers, included loan-level information to assess...more
The first two months of 2025 were filled with numerous consumer protection actions by state AGs against vehicle dealers and players in the mortgage space, among others. ...more
California Senate Bill 825 is aimed at expanding the state’s authority to enforce its consumer finance laws by eliminating an existing exemption for persons licensed by the Department of Financial Protection and Innovation...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more
In the ever-evolving world of mortgage lending, a scenario often arises where a borrower refinances their existing mortgage with a new lender, but the payoff funds tendered by the new lender are less than the full amount...more
What Happened? On March 26, 2025, the U.S. Department of Housing and Urban Development (HUD or the Department) issued Mortgagee Letter 2025-09 (ML 2025-09), which updates HUD’s residency requirements for borrower eligibility...more