Commercial Law & Contracts, Administrative Law, Residential Real Estate

Judge Invalidates California Regulation on Estimating Replacement Costs for Homeowners Insurance

by Larry Golub, Samuel Sorich | Barger & Wolen on 4/4/2013

On March 25, 2013, Los Angeles Superior Court Judge Gregory Alarcon issued a decision which found the California Department of Insurance’s regulation on estimating replacement costs for homeowners insurance to be invalid. The...more

InfoBytes Special Alert: Detailed Analysis Of CFPB's Final Escrow Rule

by Jeremiah Buckley, Joseph Kolar, John Kromer, Jeffrey Naimon, Joseph Reilly, Clinton Rockwell | BuckleySandler LLP on 2/15/2013

On January 10, 2013, the Consumer Financial Protection Bureau issued its final rule on escrow account requirements for first-lien higher-priced mortgage loans. The rule amends existing escrow requirements and exemptions for...more

California County Drops Consideration Of Eminent Domain Proposal

by BuckleySandler LLP on 2/4/2013

On January 24, a Joint Powers Authority established by San Bernardino County decided not to pursue a proposal under which the County would use eminent domain power to seize underwater mortgages from private trusts and provide...more

San Bernardino Not Moving Forward with Proposed Plan to Condemn Underwater Mortgages

by Rick Rayl | Nossaman LLP on 1/25/2013

For the better part of a year, we've been writing about the controversial proposal to use the power of eminent domain to condemn underwater mortgages, allowing homeowners to have a new loan that better reflects the underlying...more

CFPB Issues Final Rules Amending Regulation X and Regulation Z

by Jennifer N. Toussaint | Foley & Lardner LLP on 1/18/2013

Today, the CFPB issued final rules amending Regulation X (Real Estate Settlement Procedures Act (“RESPA”)) and Regulation Z (Truth in Lending Act (“TILA”)). The amendments focus on mortgage servicing requirements and servicer...more

CFPB Issues Final Mortgage Servicing Rules

by Richard J. Andreano, Jr., John D. Socknat, Michael S. Waldron | Ballard Spahr LLP on 1/18/2013

The CFPB today issued its final rules implementing provisions of the Dodd-Frank Act that relate to mortgage servicing, which will take effect on January 10, 2014....more

Financial Services Bulletin: Action At The CFPB

by Perkins Coie on 1/18/2013

On Thursday, January 10, 2013, the Consumer Financial Protection Bureau ("CFPB") issued a final rule amending Regulation Z pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act"). ...more

Governmental Actions That May Assist Insurance Recovery for Superstorm Sandy Claims [UPDATED]

by Lynda A. Bennett, Andrew S. Zimmerman | Lowenstein Sandler LLP on 1/18/2013

Following the widespread destruction caused by “Superstorm Sandy,” the governors of New York and New Jersey declared states of emergency and issued numerous emergency executive orders and directives. Some of these orders have...more

Is the Fed's Settlement with Mortgage Servicers Good for the Market?

by Donald Rea | Saul Ewing LLP on 1/17/2013

On January 7, 2013, the Office of the Comptroller of the Currency (OCC) and the U.S. Federal Reserve Board announced an $8.5 Billion settlement with 10 of the nation's top residential loan servicers ending independent...more

Fannie Mae Clarifies Foreclosure Sheriff’s Costs Reimbursement Process

by BuckleySandler LLP on 1/17/2013

On January 9, Fannie Mae issued a Servicing Notice regarding claims for reimbursement of foreclosure sheriff’s costs. Noting that some states require that the sheriff’s office perform some or all of the tasks associated with...more

Massachusetts Division Of Banks Proposes Foreclosure Regulation Amendments

by BuckleySandler LLP on 1/17/2013

On January 7, the Massachusetts Division of Banks announced a public hearing to review proposed amendments to the state’s foreclosure and mortgage modification regulations. The proposed amendments would implement a recently...more

Time for a Consumer Financial Protection Compliance Tune-up

by Alexandra Megaris, Jonathan L. Pompan | Venable LLP on 1/16/2013

New Year’s is a good time for a Consumer Financial Protection Bureau (“CFPB”) compliance tune-up. Providers of consumer financial products and services (“providers”) operate in a dynamic environment influenced by challenges...more

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

by Linda Ann Bartosch, Patrick D. Dolan, Robert H. Ledig, Ralph R. Mazzeo, Laurie Nelson, Thomas P. Vartanian | Dechert LLP on 1/16/2013

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

The Consumer Financial Protection Bureau Finalizes the Ability-To-Repay and Qualified Mortgage Rule

by Jennifer Dioguardi | Snell & Wilmer L.L.P. on 1/15/2013

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) amended the Truth in Lending Act (TILA) to provide for an expanded ability-to-repay requirement for the mortgage lending industry. The Consumer...more

Ohio Creates Temporary Loan Originator License

by BuckleySandler LLP on 1/15/2013

Last month, Ohio enacted a bill, S.B. 333, to allow the Division of Financial Institutions to offer a transitional loan originator license to assist an originator licensed by another state to transition to employment with an...more

Final Rule Issued on Ability-to-Repay/Qualified Mortgages

by Jennifer M. Keas | Foley & Lardner LLP on 1/15/2013

The Consumer Financial Protection Bureau (CFPB) issued its final ability to repay rule (Rule) on January 10, 2013. The Rule implements ability-to-repay provisions of the Dodd-Frank Act, which imposed strict underwriting...more

CFPB Finalizes Ability-to-Repay Rule for Mortgage Lenders, Defines “Qualified Mortgage” and Proposes Exemption to Ability-to-Repay...

by Patton Boggs LLP on 1/15/2013

On Thursday, January 10, 2013, the Consumer Financial Protection Bureau (CFPB) released its final rule on the ability-to-repay requirements, including the definition of “Qualified Mortgage,” that was mandated by the...more

Federal Reserve Announces Another Major Cash Settlement with Mortgage Servicers: $8.5 Billion to be Paid in Cash, Used to Help...

by Rosa Eckstein Schechter on 1/15/2013

In a joint press release issued by the Federal Reserve and the Office of the Comptroller of the Currency, news this past week is that 10 mortgage servicers around the country have entered into a settlement agreement with the...more

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Commercial Law & Contracts › Administrative Law › Residential Real Estate

Judge Invalidates California Regulation on Estimating Replacement Costs for Homeowners Insurance

InfoBytes Special Alert: Detailed Analysis Of CFPB's Final Escrow Rule

California County Drops Consideration Of Eminent Domain Proposal

San Bernardino Not Moving Forward with Proposed Plan to Condemn Underwater Mortgages

CFPB Issues Final Rules Amending Regulation X and Regulation Z

CFPB Issues Final Mortgage Servicing Rules

Financial Services Bulletin: Action At The CFPB

Governmental Actions That May Assist Insurance Recovery for Superstorm Sandy Claims [UPDATED]

Is the Fed's Settlement with Mortgage Servicers Good for the Market?

Fannie Mae Clarifies Foreclosure Sheriff’s Costs Reimbursement Process

Massachusetts Division Of Banks Proposes Foreclosure Regulation Amendments

Time for a Consumer Financial Protection Compliance Tune-up

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

The Consumer Financial Protection Bureau Finalizes the Ability-To-Repay and Qualified Mortgage Rule

Ohio Creates Temporary Loan Originator License

Final Rule Issued on Ability-to-Repay/Qualified Mortgages

CFPB Finalizes Ability-to-Repay Rule for Mortgage Lenders, Defines “Qualified Mortgage” and Proposes Exemption to Ability-to-Repay...

Federal Reserve Announces Another Major Cash Settlement with Mortgage Servicers: $8.5 Billion to be Paid in Cash, Used to Help...

HUD Obtains First Settlement Under Rule Requiring Sexual Orientation And Gender Identity Equal Access

CFPB Increases HMDA Asset Size Exemption Threshold

California Corrects Homeowner Bill Of Rights Summary

CFPB Rules on Ability-to-Repay and Qualified Mortgages

CFPB Issues Final Ability To Repay Rule And ‘Qualified Mortgage’ Standard

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

CFPB Adopts Mortgage Escrow Account Final Rule

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