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GeoDataVision

The new Community Reinvestment Act Omits Critical Types of Credit That Meet Community Needs

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Recent news stories explain the criticism of Senator Warren and Congresswoman Waters directed at banks that are litigating the 2023 CRA rule.  But perhaps their frustration should be focused on the regulators who have...more

Goulston & Storrs PC

Different Sectors, Same Page

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I recently attended the IMN Distressed CRE Forum in New York, alongside my colleagues Brian Cohen, Zev Gewurz and Doug Rosner.  It was great to connect with and hear from people across many different places in the industry,...more

Ballard Spahr LLP

VA Documentation Requirements for Allowable Fees

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In Circular 26-24-19, the Department of Veterans Affairs (VA) sets forth documentation requirements for fees and charges that may be imposed on veterans in connection with VA-guaranteed home loans, other than the VA funding...more

Cadwalader, Wickersham & Taft LLP

Beware of the Law of Unintended Consequences

A recent study, Government Litigation Risk and the Decline in Low-Income Mortgage Lending, provides further evidence that the law of unintended consequences reigns supreme, particularly in the realm of public policy. The...more

Troutman Pepper

CFPB Probing Alleged “Junk Fees” in Mortgage Closing Costs

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On May 30, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a request for information (Request) regarding alleged “junk fees” in closing costs charged by mortgage lenders and related settlement service...more

GeoDataVision

The new CRA: Surprises and Problems by Omission

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I have written a number of articles about the new CRA and the problems its requirements will impose on banks. But there are also problems posed by what the new Rule omits....more

Ballard Spahr LLP

CREFC Miami Takeaways

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Days two and three of the CREFC Conference in Miami were active for the Ballard Spahr Team, with the highlight being our annual reception attended by more than 220 guests. In follow-up to our day one summary alert, we wanted...more

Ballard Spahr LLP

CFPB Releases 2022 Mortgage Market Activity and Trends Report

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The CFPB recently released a report entitled Data Point: 2022 Mortgage Market Activity and Trends based on 2022 data reported by lenders under the Home Mortgage Disclosure Act (HMDA)....more

Cadwalader, Wickersham & Taft LLP

How to Prepare for a Real Estate Enforcement in Europe, Part 2 – The Importance of Valuation in Enforcements

Former British Prime Minister Tony Blair once famously declared that “our top priority was, is and always will be education, education, education.” To adopt this mantra in an enforcement context, for lenders the top priority...more

Bilzin Sumberg

“Crypto-Mortgage”- Do the Benefits Outweigh the Risks?

Bilzin Sumberg on

Cryptocurrency continues to gain traction as a means of payment for goods and services. It recently made its debut appearance in the mortgage industry, as the concept of a “crypto-mortgage” came to life. A Miami-based...more

Goodwin

CFPB Grants No-Action Letter for Proposed Small-Dollar Credit Product

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In the News. The Consumer Financial Protection Bureau (CFPB) granted a no-action letter (NAL) regarding a proposed small-dollar credit product and sought comment on the CFPB’s plan to study how consumers locate, comprehend...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending February 7, 2020

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Real Property Update - Fraudulent Transfer: Real property that was worth less than mortgage encumbering it was not an asset per the plain language of section 726.102(2) and, therefore, could not support fraudulent transfer...more

Orrick, Herrington & Sutcliffe LLP

Distress in Commercial Real Estate - Considerations for the CRE Warehouse Market

There has been increasing use in Europe by non-bank lenders of warehouse finance in the commercial real estate (CRE) lending market. These private financing structures are used by non-bank CRE lenders such as real estate debt...more

Ballard Spahr LLP

NYDFS requires regulated institutions to submit plans describing preparations for LIBOR transition by Feb. 7

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The New York Department of Financial Services has sent a letter to the institutions that it regulates requiring each such institution, by February 7, 2020, to provide to DFS a description of its “plan to address its LIBOR...more

Robins Kaplan LLP

Financial Daily Dose 12.17.2019 | Top Story: USMCA Back on Track After Last-minute Wrangling

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The United States and Mexico appear poised to move past a last-minute snag over new language on Labor Department attaches to posts in Mexico. Mexico feared that the diplomats would “act as labor inspectors,” and for a day or...more

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