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Relief Measures Financial Services Industry Mortgage Lenders

Hudson Cook, LLP

CFPB Bites of the Month - January 2024 - A Hazy Shade of Winter With the CFPB

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In this month's article, we share some of our top "bites" for the prior and current month covered during the January 2024 webinar....more

Goodwin

2020 Year in Review: Consumer Finance

Goodwin on

For so many people and companies, 2020 was a year of uncertainty unlike any other in recent memory. It was no different for the financial services industry. The biggest uncertainty was COVID-19. The global pandemic had a...more

Ballard Spahr LLP

FHA Extends Temporary Employment Verification and Appraisal Guidance Due to COVID-19

Ballard Spahr LLP on

In Mortgagee Letter 2020-20 dated June 29, 2020, the U.S. Department of Housing and Urban Development announced the extension of FHA temporary guidance regarding employment verification and appraisals due to COVID-19. The...more

Ballard Spahr LLP

VA Extends Eviction Moratorium Through August 31

Ballard Spahr LLP on

On June 18, 2020, the U.S. Department of Veterans Affairs (VA) in Circular 26-20-23 (dated June 17, 2020) extended the eviction moratorium for properties secured by VA guaranteed loans from June 30, 2020 to August 31....more

Ballard Spahr LLP

States Issue Work-From-Home Guidance For Mortgage Lenders (UPDATED)

Ballard Spahr LLP on

In response to the COVID-19 pandemic, state mortgage regulators are daily issuing guidance (1) about whether work from home arrangements are permissible under their existing licensing requirements and/or (2) are granting...more

Pillsbury Winthrop Shaw Pittman LLP

Distressed Real Estate During the Coronavirus Pandemic: Tips for Negotiating Forbearance Agreements

In many cases, borrowers and lenders are working together to weather this crisis. A forbearance agreement is often the first step—after a pre-negotiation agreement is entered into. A forbearance agreement can benefit both...more

Akerman LLP

GSE COVID-19 Guidance Regarding Multifamily Mortgages

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Fannie Mae and Freddie Mac have both issued guidance addressing the impact of the COVID-19 pandemic on borrowers with multifamily property mortgages....more

Alston & Bird

Key Provisions of the CARES Act Affecting Mortgage Servicers

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A&B ABstract: In response to COVID-19, on Friday March 28, 2020, President Trump signed into law the “Coronavirus Aid, Relief, and Economic Security Act” (the “CARES Act”).  This is a monumental $2 trillion stimulus...more

Akerman LLP

GSE COVID-19 Guidance for Sellers and Servicers

Akerman LLP on

Fannie Mae and Freddie Mac issued several guidance letters and bulletins to sellers and servicers in response to the COVID-19 pandemic....more

A&O Shearman

NYDFS Adopts Forbearance Regulations for Regulated Institutions

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The New York Department of Financial Services (“NYDFS”) promulgated regulations (“Part 119”) on March 24, 2020, to provide financial relief to individuals who can demonstrate a financial hardship as a result of the COVID-19...more

Ballard Spahr LLP

NYDFS Adopts Emergency Regulation Requiring COVID-19 Mortgage Loan Forbearance

Ballard Spahr LLP on

On March 24, 2020 the New York State Department of Financial Services (NYDFS) adopted on an emergency basis a regulation that requires New York-regulated banking organizations and New York-regulated mortgage servicers subject...more

Cole Schotz

COVID – 19 Update: New York Residential Mortgage And Other Banking Relief

Cole Schotz on

On March 21st New York Governor Andrew Cuomo issued an executive order which seeks to protect individuals who experience financial hardship as a result of the COVID-19 pandemic. The executive order does the following: 1....more

Chartwell Law

In the Face of the COVID-19 Pandemic's Impact on Business and Policyholders, the New York Department of Financial Services Sets...

Chartwell Law on

The World Health Organization’s (“WHO”) formal declaration that the spread of the novel coronavirus COVID-19 is now a pandemic, accompanied by the United States’ Federal Government and individual states’ “state of emergency”...more

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