Latest Publications

Share:

FHA Issues Final Guidelines on PACE Assessments

The U.S. Federal Housing Administration (FHA) issued final guidance in the form of Mortgagee Letter 2016-11 regarding the subordination of Property Assessed Clean Energy (PACE) assessments on Tuesday, July 19, 2016. As...more

Implications of Madden v. Midland Funding

In earlier client OnPoints, we have provided a comprehensive review of recent developments in the U.S. affecting the marketplace lending industry, including the potentially far-reaching Madden v. Midland Funding, LLC case...more

The Evolution of Marketplace Lending

Marketplace lending in the U.S. continues to evolve at a rapid pace as a result of legal and regulatory developments and market forces. In particular: - The Consumer Financial Protection Bureau recently ramped up its...more

Delaware Superior Court Permits Use of Litigation Finance

The Delaware Superior Court recently denied a motion to dismiss an action based on a claim that the litigation financing used by the plaintiff constituted unlawful champerty and maintenance. The March 9, 2016, decision in...more

Recent Developments Affecting Property Assessed Clean Energy (PACE) Loans

New Jersey Governor’s Conditional Veto Restricts New Jersey PACE, Florida’s Supreme Court Expands State’s PACE Market, Congress Extends the Federal Investment Tax Credit and States Reduce Effectiveness of Net-Metering...more

Marketplace Lending Developments in Maryland, California and Pennsylvania

Recently, two courts rendered decisions that have implications for the marketplace lending industry regarding the application of state usury and licensing laws to marketplace lenders. Concurrently, federal and state...more

US Treasury Eyes Online Marketplace Lending

In an interesting and unusual development, the Treasury Department has issued a notice seeking public input on the online marketplace lending business for small businesses and consumers (“Notice”), setting forth 14 questions...more

Second Circuit Denies Request for Rehearing in Madden v. Midland Funding Case

In a case closely watched by the lending industry, on August 12, 2015, the U.S. Second Circuit Court of Appeals denied a request by Midland Funding, LLC (Midland Funding) to rehear a case decided in May (Madden v. Midland...more

Final Credit Risk Retention Rules Adopted for Asset Backed Securities and Residential Mortgage Backed Securities

The Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, Department of Housing and Urban Development, Federal Housing Finance Agency, and...more

New Regulation AB II and NRSRO Rules Released

The U.S. Securities Exchange Commission (the “SEC”) released new Regulation AB II Rules (the “Reg AB Rules”) and regulations relating to credit rating agencies (“the NRSRO Rules”) on August 27, 2014. The Reg AB Rules1 revise...more

The Housing Finance Reform and Taxpayer Protection Act of 2014

This article provides a brief summary of the key provisions of a new bi-partisan Senate bill, based on the Housing Finance Reform and Taxpayer Protection Act of 2013, as well as a brief discussion of a new House of...more

SEC Re-Opens Comment Period for Asset-Backed Securities Rules

An update to Regulation AB (“Reg AB II”) was originally proposed by the U.S. Securities and Exchange Commission (the “SEC”) on April 7, 2010,1 with an initial comment period open until August 2, 2010 (the “Proposal”) to...more

U.S. Basel III Final Rule and its Impact on the Securitization Framework

The three U.S. federal banking agencies (the “Agencies”) have adopted a final rule (the “Rule”) that implements the Basel III regulatory capital framework and comprehensively revises the regulatory capital requirements for...more

U.S. Regulators Respond to Public Comments and Restructure Proposed Rule for Credit Risk Retention

One of the important unfinished aspects of the Dodd-Frank Act (“Act”) is the requirement for Federal agencies (“Regulators”) to issue regulations implementing Section 941 of the Act which generally requires that a securitizer...more

Residential Mortgage Securitization Update: GSE Reform Bill

Senators Bob Corker (R-TN) and Mark Warner (D-VA) have introduced a bi-partisan bill to reform the U.S. housing finance market. Entitled the “Housing Finance Reform and Taxpayer Protection Act of 2013” (the “Reform Bill” or...more

Municipalities Continue to Advance Plans to Use Eminent Domain to Seize Underwater Residential Mortgages

A number of industry groups1 (the “Industry Groups”) raised concerns recently when Mortgage Resolution Partners (“MRP”) entered into contracts with two additional municipalities to formalize the use of eminent domain programs...more

Basel Committee’s Proposed Revisions to the Securitization Framework

The Basel Committee on Banking Supervision (the “Basel Committee”) published a consultative document, “Revisions to the Basel Securitisation Framework” (the “Proposed Revisions”) on December 18, 2012, which proposes...more

U.S. Department of Housing and Urban Development Issues Final Rule Affirming Use of Disparate Impact to Establish Liability for...

The U.S. Department of Housing and Urban Development (“HUD”) issued a final rule (“Rule”) on February 8, 2013, which provides additional support to potential government and private plaintiffs seeking to challenge “facially...more

U.S. Consumer Financial Protection Bureau Seeks Comments to Proposed Amendments to the Ability-to-Repay Requirements and Qualified...

The U.S. Consumer Financial Protection Bureau (the “Bureau”) has released a proposal (the "Proposal") to amend the Bureau's recently issued final rules (the “Rules”) on the definition of a qualified mortgage (“QM”) and the...more

New Legislation Introduced to Allow Discharge of Private Student Debt

The Consumer Financial Protection Bureau (the “CFPB”) reported in 2012 that U.S. borrowers are burdened by more than $1 trillion in student debt, including over $150 billion of private student loans. According to TransUnion,...more

Securities and Exchange Commission Report to Congress on Assigned Credit Ratings for Structured Finance Products

Recently the Staff of the Division of Trading and Markets (the “Staff”) of the U.S. Securities and Exchange Commission (the “Commission”) published a report to Congress outlining the findings from the study the Commission was...more

Proposed FASB Rule Accelerating Recognition of Credit Loss

The Financial Accounting Standards Board (FASB) recently released an exposure draft (“Exposure Draft”) that proposes a new approach to accelerate the recognition of credit losses (“Proposed Rule”). The FASB perceives delayed...more

U.S. Consumer Financial Protection Bureau Issues Rules on Qualified Mortgages and Ability to Repay

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

CFTC Issues Broad Securitization Industry Relief on Commodity Pool Regulation

On Friday, December 7, 2012, the U.S. Commodity Futures Trading Commission (CFTC), through its Division of Swap Dealer and Intermediary Oversight (Division), issued a letter which provides broad relief for certain segments of...more

Treasury Reports Improvements in Residential Mortgage Servicing

The U.S. Department of Treasury (Treasury) recently issued a report that reviewed the implementation of Treasury guidelines for streamlining distressed homeowners’ communications with mortgage lenders. The Treasury...more

25 Results
/
View per page
Page: of 1

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
Feedback? Tell us what you think of the new jdsupra.com!