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Mortgage Servicers Corporate Governance Financial Services Industry

Alston & Bird

Iowa Adopts Mortgage Servicer Prudential Standards

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What Happened? Effective July 1, Iowa House File 2392 (the “Iowa Law”) enacts mortgage servicer prudential standards (codified in Chapter 535B of the Iowa Code) that largely follow those promoted by the Conference of State...more

Orrick, Herrington & Sutcliffe LLP

Iowa enacts prudential standard and corporate governance requirements for mortgage servicers

On April 10, Iowa enacted HF 2392 (the “Act”) which will establish prudential safety and soundness requirements on mortgage servicers. The Act will establish prudential standards and corporate governance requirements on...more

Alston & Bird

New York DFS to Impose Climate Change Safety and Soundness Expectations on Mortgage Lenders, Servicers, and other Regulated...

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What Happened? On December 21, 2023, the New York Department of Financial Services (“NYDFS”) published an 18-page guidance document (the “Guidance”) on managing material, financial and operational risks due to climate...more

Alston & Bird

Connecticut and Maryland Adopt Model Mortgage Servicer Prudential Standards

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A&B Abstract: On May 24, 2022, Connecticut enacted legislation that, among other things, adds financial condition and corporate governance requirements for certain licensed mortgage servicers (the “CT Standards”). In similar...more

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