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Fair Housing Act (FHA) Mortgages Fannie Mae

Troutman Pepper

New Policies From FHA and FHFA Allow Borrowers to Challenge Property Appraisals

Troutman Pepper on

On May 1, the Federal Housing Administration (FHA), and the Federal Housing Finance Agency (FHFA) announced new policies that will allow borrowers to challenge property appraisals they believe to be inaccurate or biased....more

Ballard Spahr LLP

HUD Issues 2023 Update to Housing Equity Action Plan

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The U.S. Department of Housing and Urban Development (HUD) recently issued a press release announcing a 2023 update to its Equity Action Plan. The Equity Action Plan is part of HUD’s efforts to implement President Biden’s...more

Ballard Spahr LLP

HUD Recently Announced the 2024 Loan Limits for FHA Forward Mortgages and HECMs

Ballard Spahr LLP on

The U.S. Department of Housing and Urban Development (HUD) recently announced the 2024 loan limits for FHA insured forward mortgage loans and FHA insured Home Equity Conversion Mortgages (HECMs). The announcements were made...more

Ballard Spahr LLP

HUD Requires Use of Supplemental Consumer Information Form for FHA Mortgage Loans

Ballard Spahr LLP on

The U.S. Department of Housing and Urban Development (HUD) recently announced in Mortgagee Letter 2023.13 that lenders must use the Supplemental Consumer Information Form (SCIF) of Fannie Mae and Freddie Mac in connection...more

Holland & Hart LLP

What Does the Nation's Second Largest Bank Failure Mean for Business?

Holland & Hart LLP on

In what is now the second largest bank failure in United States history, the California Department of Financial Protection and Innovation closed embattled San Francisco-based First Republic Bank shortly after midnight...more

Ballard Spahr LLP

HUD Addresses Use of Revised Fannie/Freddie Loan Documents with FHA Loans

Ballard Spahr LLP on

In Mortgagee Letter 2023-01, the U.S. Department of Housing and Urban Development (HUD) addressed the use of the revised Fannie Mae and Freddie Mac single-family loan documents with FHA Title II forward mortgage loans. As...more

Perkins Coie

Certain Foreclosure Moratoria Set to Lift on July 31

Perkins Coie on

At the close of this month, certain moratoria on foreclosures and evictions are set to lift. While prior deadlines have been extended, it remains to be seen whether another continuance will be granted amidst an increase in...more

Lowenstein Sandler LLP

Residential Evictions: What Homeowners Need To Know - UPDATED March 2021

Lowenstein Sandler LLP on

REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? No. On March 19, 2020, New Jersey Governor Philip Murphy issued Executive Order 106, which suspended...more

McGlinchey Stafford

COVID Relief Updates: Mortgages, Debt Collection, And Student Lending

McGlinchey Stafford on

Since the beginning of the year and the change in Presidential administrations, a number of relief measures granted in response to the COVID-19 pandemic have been extended. Below are updates regarding relief measures in place...more

Lowenstein Sandler LLP

Residential Evictions: What Homeowners Need To Know (Spanish) - UPDATED December 2020 #2

Lowenstein Sandler LLP on

REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? No. On March 19, 2020, New Jersey Governor Philip Murphy issued Executive Order 106 , suspending evictions...more

McGlinchey Stafford

The Federal Agencies and Enterprises Extend Foreclosure Moratoriums Again

McGlinchey Stafford on

Three federal agencies who make, guarantee, and insure mortgage loans, the Department of Housing and Urban Development (HUD)’s Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), and the Department...more

Bradley Arant Boult Cummings LLP

CFPB Issues Interim Final Rule to Enable COVID-19 Payment Deferral Options

On May 14, 2020, shortly after the Fannie Mae and Freddie Mac COVID-19 payment deferral options were announced, we warned mortgage servicers about the legal risks associated with offering payment deferral programs to...more

K&L Gates LLP

GSEs Release Revised Framework for Origination Defects and Remedies — The Proof Will Be in the Execution

K&L Gates LLP on

By recently releasing yet another revised representation and warranty framework, Fannie Mae and Freddie Mac continued their efforts to assuage the concerns of the lending industry that a default by a borrower poses an unfair...more

Locke Lord LLP

2015-2017 Housing Goals for Fannie Mae and Freddie Mac Finalized

Locke Lord LLP on

On August 19th, 2015, the Federal Housing Finance Agency (FHFA) adopted a final rule establishing single-family and multifamily housing goals for Fannie Mae and Freddie Mac for 2015 through 2017. In addition, the final rule...more

Ballard Spahr LLP

CFPB to issue whitepaper on methodology for identifying auto finance discrimination and consider use of advisory opinions

Ballard Spahr LLP on

While Director Cordray’s appearance at the House Financial Services Committee’s hearing on the CFPB’s fifth Semi-Annual Report yesterday was accompanied by the usual dose of political theater, his testimony did yield the...more

Poyner Spruill LLP

Changes of Note to Lenders From the 2013 Legislative Long Session

Poyner Spruill LLP on

During the 2013 legislative session, several new laws were passed which directly affect the banking and financial services industries. While most of these changes are relatively minor, they are certainly worth noting. Below...more

Bradley Arant Boult Cummings LLP

The Government Shutdown and its Effect on the Real Estate Market

On September 30, the federal government shut down or significantly reduced staffing for many of its programs because of Congress’ failure to pass a budget for this fiscal year. The shutdown appears set to affect the real...more

Bilzin Sumberg

Housing Market Largely Escapes Damage From Government Shutdown, For Now

Bilzin Sumberg on

The federal government shut down at the stroke of midnight on September 30th as the Congress failed to pass a bill to continue funding the government. The repercussions are many, including preventing 800,000 Americans from...more

K&L Gates LLP

Housing Finance Reform Efforts Heat Up in Summer Session

K&L Gates LLP on

This summer has brought a wave of housing finance reform efforts in both chambers of Congress. Legislators are finally proposing ways to downsize and eliminate two housing finance giants – Fannie Mae and Freddie Mac (the...more

Akin Gump Strauss Hauer & Feld LLP

The SAVE Act – Valuing Energy Savings

Consumers interested in energy-efficient homes will benefit if a recent bill, called the SAVE Act (Sensible Accounting to Value Energy), becomes law. The law, if enacted, would require Fannie Mae, Freddie Mac and the Federal...more

Orrick - Finance 20/20

Shareholders Allege Improper Takeover of Fannie and Freddie by the Government

Orrick - Finance 20/20 on

Can shareholders of a government-sponsored enterprise successfully challenge the constitutionality of a government takeover of the entity? Shareholders of Fannie Mae and Freddie Mac will try to do so in a $41 billion class...more

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