InfoBytes, November 19, 2010 - Weekly In-depth review of news & developments in the financial services industry

more+
less-

Topics In This Issue

• Federal Issues

• State Issues

• Courts

• Firm News

• Miscellany

• Mortgages

• Banking

• Securities

• Litigation

• E-Financial Services

• Criminal Enforcement Actions

Excerpt from "Federal Issues"

HUD Solicits Input Regarding Warehouse Lending Structures. On November 16, HUD posted a notice on its website soliciting comments regarding changes in warehouse lending structures that have occurred since HUD’s previous regulations on table funding and secondary market transactions were issued in 1994. The notice seeks input from the industry regarding warehouse lending structures, processes and procedures in order for HUD to determine whether it needs to provide additional guidance regarding the scope of RESPA as it applies to current mortgage funding practices. The specific questions include, among other things: (i) how a warehouse lender funds loan originators; (ii) how a warehouse lender assures repayment by the loan originator; (iii) whether a loan originated by a loan originator ever transfers to the warehouse lender, and if so, whether the loan originators are ever obligated to repurchase the loan; (iv) the extent to which a warehouse lender is involved in the credit approval decision; and (v) the characteristics that distinguish a bona fide transfer of the loan that make it a secondary market transaction. Comments will be due not later than 30 days after the notice is published in the Federal Register, which is still pending.

Please see full newsletter below for more information

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© BuckleySandler LLP | Attorney Advertising

Written by:

more+
less-

BuckleySandler LLP on:

Reporters on Deadline

"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 to create your digest using LinkedIn*

*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.
×
Loading...
×
×