Taking it Seriously: Unusual Lease Violations in Virginia
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
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
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
In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - CREDIT CARDS - Excerpt from Consumer...more
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
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
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
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
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
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 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
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
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
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
The Department of Housing and Urban Development has issued a final rule that provides that if a practice has a "discriminatory effect," HUD or a private plaintiff can establish liability under the Fair Housing Act (FHA), even...more
The U.S. Department of Housing and Urban Development (“HUD”) has finally issued its much-debated disparate impact rule. HUD argues that the rule — which it plans to apply retroactively — is simply a codification of its...more
Today, the U.S. Department of Housing and Urban Development (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...more
On January 30, HUD announced that for FHA case numbers assigned on or after April 1, 2013, FHA will use a consolidated pricing option for its home equity conversion mortgages, as explained in more detail in Mortgagee Letter...more
California courts have to date been reluctant to inject themselves into the comprehensive nonjudicial foreclosure scheme enacted by the Legislature at Civil Code section 2924 et seq....more
On January 2, HUD announced that a lender agreed to settle a claim that it refused to provide FHA financing to a lesbian couple. HUD noted that the agreement is the first enforcement action taken under a rule finalized in...more
Last month, HUD issued Mortgagee Letter 2012-28, which restates and updates guidance regarding flood zone requirements for FHA-insured mortgages. The letter states that, effective February 9, 2012, (i) FHA will require all...more
On September 7, 2012, the Federal Housing Administration (FHA) published new regulations for the Section 232 Healthcare Facility Insurance Program in the Federal Register. FHA had previously proposed new regulations and loan...more
On December 13, the California Court of Appeal for the First Appellate District held that the HUD servicing requirements were incorporated by reference into the borrowers’ FHA deed of trust and served as conditions precedent...more
On December 11, Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2012-27, which changes the way the Federal Housing Administration (FHA) will calculate the recertification fee for its approved...more
In This Issue: Leading the Past Week; Fiscal Cliff; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - Whatever happened in the world of financial services last...more
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