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Mortgages › Borrowers › Banking Sector

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Orrick, Herrington & Sutcliffe LLP

CFPB proposes final judgment addressing discriminatory practices in mortgage lending

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On November 1, the CFPB filed a proposed stipulated final judgment and order against a nonbank retail-mortgage creditor and broker based in Chicago, which, if approved by the court, would prohibit the defendant from engaging...more

Orrick, Herrington & Sutcliffe LLP

New Jersey Attorney General investigation reveals bank’s mortgage redlining

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On October 29, the New Jersey Office of the Attorney General and Division on Civil Rights released investigatory findings concluding that a bank engaged in a pattern of redlining Black, Hispanic and Asian communities in New...more

Freiberger Haber LLP

The Appellate Division, Second Department, Holds that Banking Law 6-l is a Personal Defense that Can Only be asserted by the...

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By: Jonathan H. Freiberger As readers of this BLOG know, we frequently write about issues relating to mortgage foreclosure. We have also written numerous articles relating to the recently enacted FAPA... ...more

Alston & Bird

European Enforcement Guide

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In the current economic climate, it is important that lenders understand how they can enforce security and debt claims, to help in assessing options in the event of default by their customers, and when structuring new...more

Alston & Bird

Structured Finance Spectrum - Summer 2023

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Welcome to the latest edition of the Spectrum, covering hot-topic issues in the structured finance markets in the U.S. and UK. This edition features smooth sailing through safe harbors, the English Court doing the cross-class...more

McGlinchey Stafford

HUD Implements 40-Year Loan Modification Option

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On March 8, 2023, the Department of Housing and Urban Development (HUD) published a final rule allowing mortgagees to modify a Federal Housing Administration (FHA) insured mortgage by recasting the total unpaid loan for a new...more

Bradley Arant Boult Cummings LLP

Regulatory Review, Reformatted

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As 2021 runs in search of what’s new, we realize that the pandemic disruption has continued through 2021. The NMLS Ombudsman Meeting was held virtually and the upcoming American Association of Residential Mortgage Regulators...more

Sheppard Mullin Richter & Hampton LLP

Banking Agencies: Mortgage Servicers Should Prepare For Increased Scrutiny

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The CFPB, OCC, FDIC, NCUA, and state financial regulators issued a statement this week ending the temporary supervisory and enforcement flexibility provided to mortgage servicers due to the COVID-19 pandemic by the agencies. ...more

Goodwin

FHFA Eliminates Adverse Market Refinance Fee

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In This Issue. The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac will no longer charge lenders the Adverse Market Refinance Fee; the Federal Deposit Insurance Corporation (FDIC) is seeking...more

Goodwin

House Votes to Repeal OCC True Lender Rule

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In This Issue. The House of Representatives voted to pass a Congressional Review Act resolution repealing the Office of the Comptroller of the Currency’s (OCC) “true lender” rule; the Consumer Financial Protection Bureau...more

Clark Hill PLC

Credit Eco to Go Podcast - Not a Normal Mortgage Crisis: How the Mortgage Industry Weathered the Pandemic

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Industry expert, Cristy Ward, Chief Strategy Officer for Mortgage Connect stops by Clark Hill’s Credit Eco To Go with Joann Needleman to discuss the state of the mortgage industry during and after the pandemic. The mandates...more

Hogan Lovells

[Webinar] How mortgage companies can respond to and manage the LIBOR SOFR transition - May 20th, 2:00 pm - 3:00 pm EDT

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Please join Hogan Lovells and CAPCO for a webinar on Thursday, May 20 for a panel discussion on the LIBOR SOFR transition and how mortgage companies can manage the process. Speakers will discuss transition planning, strategic...more

Goodwin

SEC Releases 2021 Examination Priorities

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In this Issue. The U.S. Securities and Exchange Commission (SEC) Division of Examinations released its 2021 Examination Priorities and issued a risk alert noting that “Digital Asset Securities” entail characteristics and...more

Goodwin

ISS Publishes 2021 Proxy Voting Guidelines

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In the News. Institutional Shareholder Services (ISS) published its proxy voting guidelines updates for 2021, which include new and updated voting recommendations on federal forum and exclusive forum provisions in companies’...more

Troutman Pepper

Oregon Banks and Trade Association File Declaratory Action Requesting Relief from State Legislation Alleged to be Retroactively...

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On August 13, 2020, the Oregon Bankers Association (“OBA”) and three Oregon-chartered banks filed a Complaint for declaratory and injunctive relief against the State of Oregon, Oregon’s Attorney General, and the Director of...more

Bradley Arant Boult Cummings LLP

Oregon Passes Mandatory Forbearance Law

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On June 30, 2020, Oregon joined D.C., Massachusetts, and New York in passing state-specific COVID-19 mortgage assistance programs into law. This new law further confuses the patchwork quilt of compliance issues for mortgage...more

Goodwin

Financial Services Weekly Roundup: Code Libor – SEC And OCIE Issue Risk Alert In Preparation Of Libor Discontinuation

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In This Issue. The Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert about the scope and content of examinations OCIE plans to conduct of various...more

Goodwin

Financial Services Weekly Roundup: May Introduces Additions And Expansions To Covid-19-related Policies

Goodwin on

In This Issue. The Board of Governors of the Federal Reserve System (Federal Reserve) expanded access to its Paycheck Protection Program Liquidity Facility (PPPLF) to non-bank lenders and expanded the collateral eligible to...more

Hinshaw & Culbertson LLP

A New Bright Line Rule in New York Courts: Plead or Move, But a Borrower Can't Just Deny Standing to Challenge Foreclosure

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In US Bank N.A. v. Nelson, the New York Appellate Division for the Second Department held that to raise a challenge to a foreclosing lender's standing it is not sufficient merely to deny the lender's allegations. In prior...more

Alston & Bird

Structured Finance Spectre - October 2018

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PRACTITIONER NOTES – Frankenstein’s Monster? Rosemary’s Baby? The Twins from the Shining? How Lenders are thinking about the Delaware Division Statute and Division LLCs - Recent amendments to the Delaware LLC Act (the...more

Snell & Wilmer

Everyone Wins When a Foreclosure Sale Generates Excess Proceeds

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When a foreclosure sale generates more money than needed to pay off the lien, the excess proceeds usually go first to creditors in the order of their priority, and second to the owner after creditors are paid in full. So, in...more

Amundsen Davis LLC

Discharge In Bankruptcy Without Reaffirmation Is Not A Shield And A Sword

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Many borrowers use bankruptcy as a shield against a lender’s foreclosure action. Some also try to use bankruptcy as a sword to bring up defenses that stem from the mortgage contract to defeat a foreclosure. A recent second...more

Ballard Spahr LLP

New CFPB webinar available on 2015 HMDA final rule

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On October 15, 2015, the CFPB released a final rule amending Regulation C, which implements the Home Mortgage Disclosure Act (HMDA), requiring certain data on mortgage applications and loans to be collected beginning in 2017...more

Lowndes

Appellate Court Restores Lis Pendens Protections in Do-Ober Decision

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The tides have turned in Ober v. Town of Lauderdale-By-The-Sea as the Fourth District Court of Appeal recently reversed its decision and revived the full impact of Florida’s lis pendens statute. By withdrawing and replacing...more

Faegre Drinker Biddle & Reath LLP

Minnesota Court of Appeals Expands Reach of Receivership Statute

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On January 9, 2017, an unpublished Minnesota Court of Appeals decision (BMO Harris Bank v. City Center Development, A16-0766 (Minn. Ct. App. Jan. 9, 2017)), held that Minn. Stat. § 576.25, subdivisions 5(a) and 5(b), set...more

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