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House Prioritizes Housing Finance Reform

by Goodwin on

On October 3, 2017, the U.S. House of Representatives’ Financial Services Committee conducted a hearing on possible housing finance reform measures titled “Sustainable Housing Finance: An Update from the Director of the...more

CFPB Issues Update to HMDA Small Entity Compliance Guide

by Ballard Spahr LLP on

The Consumer Financial Protection Bureau has issued a second version of the Home Mortgage Disclosure Act (Regulation C) Small Entity Compliance Guide. The updated version incorporates various changes to the HMDA rule that...more

New GTO covers Wire Transfers

by Foodman CPAs & Advisors on

On August 22, 2017, FinCEN (Financial Crimes Enforcement Network) published a new Advisory regarding Geographic Targeting Orders (GTOs) covering residential real estate transactions in certain counties or boroughs of New...more

California Makes Changes to the Finance Lenders Law

by Ballard Spahr LLP on

Recently, several changes were made to the California Finance Lenders Law with various effective dates. Effective immediately, the California Finance Lenders Law has been renamed the "California Financing Law."...more

CFPB News: Recent Updates and Actions

It has been a particularly busy period for the Consumer Financial Protection Bureau (CFPB), which issued a proposed rule governing payday lending, received a mixed decision from a California federal court judge in a lawsuit...more

Orrick's Financial Industry Week In Review

France Welcomes Foreign and Alternative Capital Providers with Latest Reform of Finance Sector - Long a cornerstone of the French banking system, the "French banking monopoly" largely prevents non-bank entities from...more

After the Waters Recede: The Mortgage Servicer’s Role in Navigating Insurance Claims, Part II

In the first part of the series “The Mortgage Servicer’s Role in Navigating Insurance Claims,” we covered assessing the damage in the wake of a natural disaster and applying the proceeds when complying with the terms of...more

House Financial Services Committee Schedules Oct. 11 Mark-Up of "Madden fix" Bill

by Ballard Spahr LLP on

Among the more than 20 bills that the House Financial Services Committee was scheduled to mark up Wednesday, October 11, was a bill to provide a "Madden fix" as well as several others relevant to consumer financial services...more

What You Should Be Doing with Your Replacement Reserves

by Hellmuth & Johnson PLLC on

Most association governing documents contain provisions requiring the association to establish and maintain one or more reserve accounts that are used to set aside funds for the future maintenance or replacement of components...more

CFPB Overreaches in Handling Alleged RESPA ABA Exemption Issues in Meridian

by Foley & Lardner LLP on

On September 27, 2017, the Consumer Financial Protection Bureau (CFPB) announced the settlement of its Real Estate Settlement Procedures Act (RESPA) enforcement action against Meridian Title Corp. (Meridian), an Indiana-based...more

CFPB updates TRID Rule small entity compliance guide

by Ballard Spahr LLP on

The CFPB recently released a revised version of the TILA-RESPA Integrated Disclosure Rule Small Entity Compliance Guide. The revised version incorporates the recent amendments to the rule that became effective on October...more

NPLs in Southern Europe

by White & Case LLP on

On 19 September 2017, White & Case hosted a panel discussion featuring a number of participants active in the market, on the future of NPLs in Southern Europe. An engaging and interactive conversation focused on a comparison...more

Illinois District Court Dismisses Case Filed By Insurance Department, As Rehabilitator, Against Reinsurer

by Carlton Fields on

The District Court for the Northern District of Illinois dismissed a complaint filed by Plaintiff-Rehabilitator, the Illinois Director of Insurance, against Defendant-Reinsurer, Twin Rivers, alleging breach of contract,...more

House Financial Services Committee schedules Oct. 11 mark-up of “Madden fix” bill

by Ballard Spahr LLP on

Among the more than 20 bills that the House Financial Services Committee is scheduled to mark-up this Wednesday, October 11, is a bill to provide a “Madden fix” as well as several others relevant to consumer financial...more

Your Foreclosure Hearing Just Got More Crowded

by Ward and Smith, P.A. on

On August 30, 2017, an amendment to North Carolina’s foreclosure statutes took immediate effect. The amended statute, Section 45-10, concerns substitute trustees under a deed of trust. As amended, Section 45-10 now prohibits...more

Real Property, Financial Services, & Title Insurance Update: Weeks Ending September 22 & 29, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - - Constructive Notice: a memorandum of agreement that is recorded in the official records of the county in which the property is located and refers to an unrecorded agreement entered into by the...more

Loan Documents And Key Provisions: Casualty Clauses

by Fox Rothschild LLP on

Whether you are a Lender or a Borrower, it’s obviously very important to know what terms are included in your Loan Documents and how they may affect your interests. Periodically, I will be blogging on issues and concerns...more

CFPB Announces Changes to Mortgage Servicing Rules

On October 4, the Consumer Financial Protection Bureau (CFPB or Bureau) announced changes to its mortgage servicing rules. The Bureau issued an interim final rule and a proposed rule to provide mortgage servicers more...more

CFPB Makes Last-Minute Changes to 2016 Mortgage Servicing Final Rule

On October 4, 2017, the CFPB released an interim final rule and a proposed rule to amend certain provisions of its 2016 Mortgage Servicing Final Rule. While the changes will not drastically change the 2016 Mortgage Servicing...more

FHFA Requests Input on FHFA’s Draft Strategic Plan for Fiscal Years 2018-2022

On September 27, 2017, the Federal Housing Finance Agency requested comment on its proposed strategic plan, which “…reflects the Agency’s priorities as regulator of the Federal Home Loan Bank System and as regulator and...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Travis is still kicking around at Uber, and he made that quite clear late last week by using his “outsize voting rights” to name two directors to the 8-member board ahead of a vote to reduce Kalanick’s voting power at the...more

Nevada Supreme Court Rules HOA Super-Priority Liens Can Be Revived after Release

Homeowners’ associations have a more robust tool for forcing mortgage lenders to pay delinquent assessments following a September 14 decision by the Nevada Supreme Court. Nevada HOAs have enjoyed a super-priority lien under...more

D.C. and California Issue Student Loan Servicing Regulations, Join Other States in Migrating Licenses to NMLS

by Ballard Spahr LLP on

As we reported last month, the District of Columbia Department of Insurance, Securities and Banking (DISB) started accepting applications and transition filings for the Student Loan Servicer License on the Nationwide Mortgage...more

CFPB Finalizes Alignment of Regulations B and C on Consumer Ethnicity and Race Information

by Ballard Spahr LLP on

On September 21, the CFPB finalized its proposal to amend Regulation B requirements related to collection of consumer ethnicity and race information, in order to resolve the differences between Regulation B and revised...more

CFPB updates HMDA rule guidance materials

by Ballard Spahr LLP on

The Consumer Financial Protection Bureau (CFPB) recently posted on its website updated versions of guidance in connection with the revisions to the Home Mortgage Disclosure Act (HMDA) rules that become effective on January 1,...more

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