News & Analysis as of November 17, 2024

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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 +

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

Sheppard Mullin Richter & Hampton LLP on 9/9/2024

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

FHFA Extends Certain COVID-Related Loan Flexibilities

Akerman LLP on 4/22/2021

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

Not a Normal Mortgage Crisis: How the Mortgage Industry Weathered the Pandemic

Clark Hill PLC on 3/25/2021

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

Rehearing Recently Sought in South Carolina Appeals Court Case That May Affect the Priority of Refinance Mortgages

Nelson Mullins Riley & Scarborough LLP on 12/30/2020

The South Carolina Court of Appeals rejected the replacement mortgage doctrine on Nov. 25, 2020 and held a home equity line of credit had priority over a subsequent mortgage that secured refinancing of a mortgage prior in...more

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

Ballard Spahr LLP on 1/14/2013

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

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