News & Analysis as of November 17, 2024

Cybersecurity

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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 +

Maybe Not Practical After All: HUD Proposes Revised Cyber Incident Reporting Requirement for FHA-Approved Mortgagees

Wyrick Robbins Yates & Ponton LLP on 10/10/2024

As we discussed in a recent post, earlier this year the U.S. Department of Housing and Urban Development (“HUD”) issued Mortgagee Letter 2024-10, which imposed a new requirement on all FHA-approved mortgagees to report...more

Federal Housing Administration Publishes Draft Updates to Its Cyber Reporting Requirements

Cooley LLP on 10/4/2024

On September 30, 2024, the Federal Housing Administration (FHA) published a draft Mortgagee Letter (ML) with updated cyber incident reporting requirements and a call for interested stakeholders to provide feedback to the...more

Possible… but Practical? HUD’s New 12 Hour Cyber Incident Reporting Requirement for FHA-Approved Mortgagees

Wyrick Robbins Yates & Ponton LLP on 7/10/2024

On May 23, 2024, the U.S. Department of Housing and Urban Development (“HUD”) issued requirements, effective immediately, for all FHA-approved mortgagees to report certain cyber incidents to HUD within 12 hours of detection....more

HUD Issues New Heightened Cybersecurity Incident Notice Requirements: 5 Things to Know

Orrick, Herrington & Sutcliffe LLP on 6/19/2024

The U.S. Department of Housing and Urban Development (HUD) has issued new heightened cybersecurity incident notice requirements that take effect immediately. FHA-approved mortgagees are now required to notify HUD of any...more

FHA’s Releases 12-Hour Cyber Incident Notification Rule

Sheppard Mullin Richter & Hampton LLP on 6/3/2024

On May 23, the U.S. Department of Housing and Urban Development (HUD) announced that Federal Housing Administration-approved Mortgagees are subject to a heightened cybersecurity incident reporting regime. The new requirement,...more

FHA issues reporting requirements on significant cybersecurity incidents

Orrick, Herrington & Sutcliffe LLP on 6/3/2024

On May 23, HUD issued Mortgagee Letter (ML) 2024-10 titled “Significant Cybersecurity Incident (Cyber Incident) Reporting Requirements” which required FHA-approved mortgagees to notify HUD when a “Cyber Incident” occurs. A...more

FHA Requiring Reporting of Significant Cybersecurity Incidents

Ballard Spahr LLP on 5/28/2024

In Mortgagee Letter 2024-10, FHA announced a requirement for FHA approved lenders to notify the U.S. Department of Housing and Urban Development (HUD) of Significant Cybersecurity Incidents. The Mortgagee Letter, which is...more

Financial Services Weekly News - September 2016 #2

Goodwin on 9/22/2016

Editor's Note - In this edition. The NYDFS proposed a cybersecurity regulation governing New York-chartered banks and insurance companies, the OCC released its bank supervision priorities in its annual supervision...more

Financial Services Report, Fall 2015

Morrison & Foerster LLP on 9/18/2015

BELTWAY - Straight Out of the Seventh Circuit The Seventh Circuit recently affirmed a lower court’s ruling that the SEC cannot be sued in district court to stop it from bringing an administrative action. Bebo v. SEC, No....more

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Mortgages › Department of Housing and Urban Development › Cybersecurity

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