On December 30, 2022, Governor Hochul signed the New York Foreclosure Abuse Prevention Act (“FAPA”) into law, with immediate effect. FAPA not only applies to mortgage foreclosures sought in 2023 and beyond, it also applies...more
Just when you thought we were out of the housing crisis weeds of ’07—think again. Apparently when an abundance of people buy homes they can’t afford and predictably fall behind on their payments, the judicial foreclosure...more
Congress in the Dodd-Frank Act responded to concerns about the quality of mortgage loans by establishing incentives for lenders to seek to ensure that borrowers had the ability to repay mortgage loans made to them. In...more
1/16/2013
/ Ability-to-Repay ,
Borrowers ,
Consumer Financial Protection Bureau (CFPB) ,
Damages ,
Dodd-Frank ,
Foreclosure ,
Lenders ,
Loans ,
Mortgages ,
Penalties ,
Qualified Mortgage Rule ,
Rebuttable Presumptions ,
Safe Harbors ,
Truth in Lending Act (TILA)