FHA

HUD Issues Series Of Mortgagee Letters

by BuckleySandler LLP on 5/21/2013

Over the past week, HUD issued numerous mortgagee letters applicable to single-family mortgagees....more

Solicitor General files brief opposing certiorari in Mt. Holly

by Alan S. Kaplinsky | Ballard Spahr LLP on 5/21/2013

Last week, the Solicitor General finally filed his brief expressing the views of the United States on whether the U.S. Supreme Court should grant the petition for certiorari pending in Township of Mount Holly v. Mt. Holly...more

HUD Supplements Guidance On FHA Lender Insurance Program

by BuckleySandler LLP on 5/8/2013

On May 1, HUD issued Mortgagee Letter 2013-12, which updates and replaces another recently issued letter – 2013-10 – on the FHA’s Lender Insurance Program. The letter explains enhancements to that program, which allows...more

Federal Court Determines That The Fair Housing Act Applies To University Housing

by Ellen Babbitt, Ellen Wetmore | Franczek Radelet P.C. on 4/24/2013

In United States of America v. University of Nebraska at Kearney, et al., the United States District Court for the District of Nebraska granted partial summary judgment against the University of Nebraska at Kearny in a case...more

HUD Updates FHA Flood Zone Guidance, Issues Lender Insurance Program Guidance

by BuckleySandler LLP on 4/23/2013

On April 11, HUD issued Mortgagee Letter 2013-11, which amends prior guidance related to the origination and servicing of FHA-insured loans in declared disaster areas. The letter stresses that prior guidance requiring a...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - April 19, 2013

by BuckleySandler LLP on 4/22/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - CREDIT CARDS - Excerpt from Consumer...more

Financial Services Legislative and Regulatory Update -- April 15, 2013

by Abby Matousek, Jason M. Rosenstock | Mintz Levin - Public Finance on 4/16/2013

In This Issue: Leading the Past Week; Budget Summary; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - Congress returned from a two-week recess and the...more

California Chamber of Commerce Releases Its 2013 List of “Job Killer” Bills

by Anthony Oncidi, Mira Serrill-Robins | Proskauer - California Employment Law on 4/12/2013

The California Chamber of Commerce has just released its annual list of “job killer” bills that have been proposed in the California Legislature. This year’s list identifies 32 proposed laws, including six new “Costly...more

Highlights Of HUD’s New Section 232 LEAN Closing Documents, April 9, 2013

by Christine Waldmann Carmody, Blair L. Schiff | Pepper Hamilton LLP on 4/10/2013

On September 7, 2012, the Federal Housing Administration (FHA) published in the Federal Register new regulations for the Section 232 Healthcare Facility Insurance Program, which became effective as of October 9, 2012. In...more

Financial Services Legislative And Regulatory Update -- March 18‚ 2013

by Abby Matousek, Jason M. Rosenstock | Mintz Levin - Public Finance on 3/18/2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Leading the Past Week - It was another busy week on the Hill and in the Administration, but it may have...more

Financial Services Report - Spring 2013

Editor’s Note - This is a dignified law firm newsletter, not like the “Brand X” versions. You won’t find pandering, attention-grabbing stories about Justin Bieber, Kim Kardashian, Ashton Kutcher, Prince William, or...more

HUD Final Rule on Disparate Impact under the Fair Housing Act

by Melanie Brody, Andrew C. Glass, Paul Hancock, Tori K. Shinohara | K&L Gates LLP on 3/13/2013

On February 8, 2013, the Department of Housing and Urban Development (“HUD” or the “Department”) finalized its controversial discriminatory effects rule (the “final rule” or “discriminatory effects rule”), thus formalizing...more

HUD Launches Fair Housing Complaint Mobile Application

by BuckleySandler LLP on 3/11/2013

On February 28, HUD launched a mobile application for iPhone and iPad that will allow the public to learn about their housing rights and file housing discrimination complaints. The application will also inform the housing...more

Summary Of HUD’s LEAN 232 Program E-Mail Blast: Office Of Residential Care Facilities (ORCF), February 28, 2013

by Christine Waldmann Carmody, Blair L. Schiff | Pepper Hamilton LLP on 3/7/2013

In an effort to summarize the highlights of the U.S. Department of Housing and Urban Development (HUD) LEAN E-mail Blasts that we receive, and rarely have time to review in a timely fashion, we at Pepper are providing this...more

Raising the Bar: HUD Issues New Rule Imposing More Demanding Standard for Defending Against Discrimination Claims Under the Fair...

by Bryan Merryman, Owen Pell, Gregory Starner, Duane D. Wall | White & Case LLP on 3/7/2013

The Department of Housing and Urban Development (HUD) recently issued a new rule to formalize a national standard for determining whether a housing practice violates the Fair Housing Act (FHA) as the result of a...more

Bipartisan Committee Issues Report on Future of U.S. Housing - and Mortgage Bankers Issue Their Response: News Releases of the...

by Rosa Eckstein Schechter on 3/5/2013

Last week, a bipartisan commission of former Cabinet secretaries, ex-Senators, economists, and experts in various aspects of the American housing industry or market issued their report on how things are and how things should...more

Bipartisan Policy Center Proposes New Directions for National Housing Policy

by Sharon Wilson Geno, Amy Glassman, Nydia Pouyes | Ballard Spahr LLP on 3/1/2013

The Housing Commission of the Bipartisan Policy Center (BPC) recently released proposals for reforming federal housing policy. The Housing Commission report, issued on February 25, 2013, proposes a number of changes to...more

D.C. Federal Court Holds Government False Claims Case Not Precluded By National Servicing Settlement

by BuckleySandler LLP on 2/25/2013

On February 12, the U.S. District Court for the District of Columbia declined to enjoin the government from pursuing alleged False Claims Act violations against a bank that argued such claims were precluded by the terms of...more

HUD's Final Rule on Fair Housing Act Liability Explained in New Dechert OnPoint

by Laurie Nelson | Dechert LLP on 2/22/2013

February has certainly been a big month for federal agencies to issue long-awaited final rules. The latest agency to throw its hat into the ring is the U.S. Department of Housing and Urban Development, which recently codified...more

PNC Settles Maternity Leave Mortgage Suit

by Michele Bowman | Lawyers.com on 2/19/2013

PNC settled a lawsuit this month over its refusal of a mortgage loan to a Connecticut couple because the wife was on maternity leave. As part of the settlement, the bank must review the last two years’ worth of mortgage...more

Financial Services Legislative And Regulatory Update -- February 18‚ 2013

by Abby Matousek, Jason M. Rosenstock | Mintz Levin - Public Finance on 2/19/2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - President Obama touched on both new and old initiatives in his State of...more

Special Alert: HUD Issues Final Disparate Impact Rule

by BuckleySandler LLP on 2/19/2013

On February 8, HUD issued a final rule authorizing so-called “disparate impact” or “effects test” claims under the Fair Housing Act. The rule provides support for private or governmental plaintiffs challenging housing or...more

U.S. Department of Housing and Urban Development Issues Final Rule Affirming Use of Disparate Impact to Establish Liability for...

by Patrick D. Dolan, Robert H. Ledig, Ralph R. Mazzeo, Thomas P. Vartanian | Dechert LLP on 2/15/2013

The U.S. Department of Housing and Urban Development (“HUD”) issued a final rule (“Rule”) on February 8, 2013, which provides additional support to potential government and private plaintiffs seeking to challenge “facially...more

HUD Proposes Streamlined FHA Inspection And Warranty Requirements, New Jumbo Loan Maximum LTV

by BuckleySandler LLP on 2/15/2013

On February 6, HUD published a proposed rule that would eliminate two regulations in order to streamline the FHA inspection and warranty requirements. HUD proposes to repeal the regulations requiring a FHA-approved inspector...more

CFPB’s ECOA disparate impact test finds support in HUD’s FHA “Discriminatory Effects” final rule

by Barbara S. Mishkin | Ballard Spahr LLP on 2/14/2013

In April 2102, the CFPB issued a bulletin to confirm that it plans to apply a disparate impact test in exercising its supervisory and enforcement authority under the Equal Credit Opportunity Act (ECOA) and Regulation B. The...more

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