BuckleySandler LLP

1250 24th Street, NW Suite 700
Washington, D.C. 20037, United States

Contact: Ezra Crawford

  • 202•349•8000
  • 202•349•8080

Massachusetts Adds “Borrower’s Interest” Safe Harbor For QM Loans

Recently, the Massachusetts Division of Banks published final amendments to its regulation concerning documentation and determination of borrower’s interest to establish an additional safe harbor for any home loan that meets the…more
| Finance & Banking, Consumer Protection, Real Estate - Residential

CFPB Proposes Publishing Consumer Complaint Narratives

Yesterday, in advance of a field hearing being held today on consumer complaints, the CFPB released a proposal to expand the amount of information that will be included in the Consumer Complaint Database to include certain…more
| Consumer Protection, Finance & Banking, Privacy

Education Department OIG Reports On Borrower Complaints Against Collection Agencies

On July 15, the Department of Education’s Office of Inspector General (OIG) published a report on its audit of the Department’s Federal Student Aid (FSA) office, which revealed that the FSA has failed to effectively: (i) monitor…more
| Education, Finance & Banking, Consumer Protection

Illinois AG Sues Student Debt Relief Firms

On July 14, Illinois Attorney General (AG) Lisa Madigan announced that her office filed separate civil lawsuits in state court against two student debt relief firms and their principals. The lawsuits allege that the defendants…more
| Civil Remedies, Education, Finance & Banking, Consumer Protection

Massachusetts Regulators Cautions Lenders On Funding Of Mortgages, Third-Party Oversight

On July 2, the Massachusetts Division of Banks published an industry letter regarding mortgage lenders’ obligation to timely fund and disburse mortgage proceeds and oversee internal and third-party compliance with that…more
| Commercial Law & Contracts, Finance & Banking, Real Estate - Residential

S.D.N.Y. U.S. Attorney Obtains FHA, GSE False Claims Settlement

On July 1, the U.S. Attorney for the Southern District of New York announced that a large bank agreed to pay $10 million to resolve allegations that prior to 2011 it violated the False Claims Act and FIRREA by failing to oversee…more
| Civil Remedies, Finance & Banking, Consumer Protection, Real Estate - Residential

Mortgage Company Resolves HAMP-Related Criminal Allegations

On July 3, the DOJ announced the resolution of a multi-agency criminal investigation into the way a large mortgage company administered the federal Home Affordable Modification Program (HAMP). According to a Restitution and…more
| Civil Remedies, Criminal Law, Finance & Banking, Real Estate - Residential

Federal Reserve Takes Action Against Bank For Vendor’s Allegedly Deceptive Practices

On July 1, the Federal Reserve Board announced a joint enforcement action with the Illinois Department of Financial and Professional Regulation against a state bank that allegedly failed to properly oversee a nonbank third-party…more
| Civil Remedies, Education, Finance & Banking, Consumer Protection

Florida Federal District Court Dismisses Miami’s Fair Housing Act Cases

On July 10, the U.S. District Court for the Southern District of Florida dismissed with prejudice the Fair Housing Act claims in three suits filed by the City of Miami against mortgage lenders. City of Miami v. Bank of Am., No…more
| Civil Procedure, Constitutional Law, Finance & Banking, Real Estate - Residential

HUD Announces Two Maternity Leave Fair Housing Agreements

On July 1, HUD announced a conciliation agreement with a California mortgage lender, pursuant to which the lender will pay $48,000 to resolve allegations that it violated the Fair Housing Act when it denied or delayed mortgage…more
| Civil Rights, Finance & Banking, Consumer Protection, Real Estate - Residential

FHFA OIG Concerned About Specialty Servicers, Highlights FHFA Servicing Transfer Guidance

On July 1, the FHFA Office of Inspector General (OIG) issued a report containing its assessment of FHFA controls to ensure that Fannie Mae and Freddie Mac monitor nonbank special servicer performance and mitigate related risks…more
| Finance & Banking, Real Estate - Residential

Federal, State Prudential Regulators Issue HELOC Guidance

On July 1, the OCC, the Federal Reserve Board, the FDIC, the NCUA, and the Conference of State Bank Supervisors issued interagency guidance on home equity lines of credit (HELOCs) nearing their end-of-draw periods…more
| Finance & Banking, Real Estate - Residential

California Removes Statutory Restrictions On Virtual Currency

On June 28, California Governor Jerry Brown signed AB 129, which repeals a state ban on the issuance or circulation of anything but lawful money of the United States. As described in a legislative staff analysis of the bill, the…more
| Finance & Banking, Science, Computers, & Technology

Pennsylvania Federal Court Holds Promissory Note Transfer Equivalent To A Mortgage Assignment And Must Be Recorded

On July 1, the U.S. District Court for the Eastern District of Pennsylvania held that in Pennsylvania the assignment or transfer of a promissory note secured by a mortgage on real estate is equivalent to a mortgage assignment…more
| Commercial Law & Contracts, Finance & Banking, Real Estate - Residential

FHA Releases New Draft Handbook Sections

Recently, the FHA released for comment two additional draft sections of its new Single Family Policy Handbook. The first, Doing Business with FHA, outlines the requirements associated with FHA mortgagee approval..…more
| Finance & Banking, Real Estate - Residential
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Other U.S. Locations
  • California
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Number of Attorneys

100+ Attorneys

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