FHA, Mortgages | JD Supra Law News

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

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

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

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

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

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

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

Financial Services Legislative And Regulatory Update -- February 11‚ 2013

by Abby Matousek, Jason M. Rosenstock | Mintz Levin - Public Finance on 2/12/2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; International; Miscellaneous; and Upcoming Hearings. Excerpt Leading the Past Week - With January officially in the record books, it...more

Financial Services Legislative And Regulatory Update -- February 4‚ 2013

by Abby Matousek, Jason M. Rosenstock | Mintz Levin - Public Finance on 2/4/2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; Miscellaneous; and Upcoming Hearings. Excerpt from Leading the Past Week - Even though the Senate sent a debt limit extension to the...more

Agencies Issue Final Rule on Appraisals for Higher-Priced Mortgage Loans

by Jeffrey M. Werthan | Katten Muchin Rosenman LLP on 2/1/2013

On January 18, six federal financial regulatory agencies (the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the Federal Housing Finance...more

Settlement of Michigan Lending Discrimination Lawsuit Underscores Regulatory Focus on Equal Access to Credit

by Richard J. Andreano, Jr., John L. Culhane, Jr., Stefanie Jackman, Alan S. Kaplinsky, Christopher J. Willis | Ballard Spahr LLP on 1/28/2013

The U.S. Department of Justice (DOJ) has reached a settlement with Community Bank of St. Charles, Michigan, in a federal lending discrimination lawsuit filed by DOJ against the bank....more

California District Court Unseals FCA Complaint Filed Against Numerous Banks

by BuckleySandler LLP on 1/24/2013

Last week, after the government declined to intervene in the case, the U.S. District Court for the Central District of California unsealed a qui tam False Claims Act (FCA) complaint filed by a whistleblower in April 2012...more

Failure to Conduct Face-To-Face Interview With Borrower Precludes Nonjudicial Foreclosure Sale Under FHA Loan – Pfeifer v....

by Bill Shiber | Miller Starr Regalia on 1/21/2013

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

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