President’s fiscal year 2014 budget contains numerous tax provisions - President Barack Obama released his proposed budget for the government’s fiscal year 2014 on April 10, 2013, and, not surprisingly, the budget...more
January, 2013, was a watershed month for mortgage standards after the Consumer Financial Protection Bureau released the long-awaited final rules on ability to repay, qualified mortgages, mortgage servicing, and appraisal...more
According to an article in the Daily Republic, Jury: County owes $1.24M in eminent domain dispute, Solano County and a local land owner recently completed an eminent domain trial, and the jury sided with the owner. The case,...more
New Jersey has now joined New York in instituting a voluntary mediation program for insured victims of Superstorm Sandy with “open and unresolved first-party insurance claims.” The program became operative with the issuance...more
The United States District Court for the Western District of Texas in Austin recently held that an insurer’s timely payment of an appraisal award bars the insured’s extra-contractual tort claims. Michels v. Safeco Ins. Co. of...more
On January 18, 2013, the Consumer Financial Protection Bureau (CFPB) issued a final rule (the Appraisal Rule) implementing an amendment to the Equal Credit Opportunity Act (ECOA) that revises Regulation B’s provisions...more
A final rule establishing new appraisal requirements for higher priced mortgage loans was issued by federal financial regulatory agencies. The rule implements amendments to the Truth in Lending Act....more
During a deficiency proceeding, once a creditor introduces the foreclosure sale price, the borrower technically has the burden of presenting evidence to establish the fair market value of the property. In the absence of such...more
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
In this presentation: - “Never a Dull Moment” - ATR/QM Final Rule - HOEPA Final Rule - Loan Officer Final Rule - Escrow Final Rule - ECOA Appraisal Disclosure Rule - Appraisals for Higher...more
In This Issue: -AC31211 - Aguinaldo v. Warner -AC33771 - Thompson Gardens West Condominium Assn., Inc. v. Masto -AC33850 - Unifund CCR Partners v. Schaeppi -AC33400 - Samnard Associates, LLC...more
The Consumer Financial Protection Bureau (CFPB) recently issued new rules amending Regulation Z, the Truth in Lending Act (TILA), and Regulation X, the Real Estate Settlement Procedures Act (RESPA), which revise mortgage...more
Welcome to the Winter 2012/2013 edition of In Site. This edition covers the following topics: - Game changer? Building Information Modelling. In this article we look at some of the points made in the Government’s...more
Project Overview - The California High-Speed Rail Authority (“HSR”) plans to build an 800-mile high-speed rail system stretching from San Francisco to Los Angeles/Anaheim and eventually to Sacramento and San Diego. The...more
On January 18, the federal banking agencies issued a final rule amending Regulation Z to implement certain requirements from the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) that require...more
On January 18, the Consumer Financial Protection Bureau (CFPB) issued a final rule that implements amendments made by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) to the Equal Credit...more
The Consumer Financial Protection Bureau (“CFPB”) has issued amendments to Regulation B requiring creditors to provide to applicants free copies of all appraisals and other written valuations developed in connection with an...more
Among the flurry of mortgage-related final rules issued by the CFPB this month was a final rule to implement a Dodd-Frank amendment to the Equal Credit Opportunity Act that requires creditors to provide to a first lien...more
The Consumer Financial Protection Bureau has issued a final rule to implement Dodd-Frank amendments to the Equal Credit Opportunity Act that require creditors to provide to a first lien mortgage applicant a copy of all...more
In This Issues: - CFPB Generates Flurry of New Mortgage Banking Industry Rules - CFPB Issues Final ECOA Appraisal Rule - 20 State Agencies Adopt Uniform State MLO Testing - Mortgage Foreclosure Is Debt...more
In This Issue: *Financial Industry Developments - CFPB Final Rule on Mortgage Servicing Standards - Joint Rule on Appraisals for Higher-Priced Mortgage Loans - CFPB Final Rule on Written Appraisals - SEC...more
Mortgage modification has long been an angst-ridden topic for consumer creditors. The issue once again rose to the forefront in May of 2012, when the Eleventh Circuit issued the unpublished opinion of In re McNeal, wherein...more
On January 18, the CFPB issued a final rule, effective January 18, 2014, which amends the Equal Credit Opportunity Act to require mortgage loan creditors to...more
On January 18, the Fed, CFPB, FDIC, FHFA, NCUA and OCC issued a joint final rule, effective January 18, 2014, which establishes new appraisal requirements for “higher-priced mortgage loans”....more
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