News & Analysis as of September 19, 2024

Mortgages

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Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist borrowers in meeting their obligations and avoid foreclosure. Such mortgage loan modifications may include reduction of principal amount or interest rate, lengthening of loan term, and monthly payment caps. less -

Real Property, Financial Services, & Title Insurance Update: Weeks Ending August 10 & 17, 2018

Carlton Fields on 8/28/2018

REAL PROPERTY UPDATE - Foreclosure/Loan Modification: foreclosing plaintiff was required to allege and prove default of loan modification agreement after trial court found the loan modification to be the operative...more

Can Lenders Foreclose While a Borrower’s Loan Modification Application is Under Review?

Dorsey & Whitney LLP on 2/2/2016

A recent decision by the California Court of Appeal held that the practice called “dual tracking” – when a lender forecloses on a property while the borrower’s application for a loan modification is under review – violates...more

Real Property, Financial Services & Title Insurance Update: Weeks Ending August 21 & 28 , 2015

Carlton Fields on 9/3/2015

Foreclosure/Statute of Limitations: statute of limitations did not bar foreclosure action even though filed more than five years after breach and acceleration of note upon which previous foreclosure action that had been...more

Dodd-Frank News: June 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

Burr & Forman on 6/26/2015

The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

Orrick's Financial Industry Week In Review - June 3, 2013

Orrick, Herrington & Sutcliffe LLP on 6/3/2013

In This Issue: CFPB Final Rule Amendments to Ability to Repay and QM Rule; Extension of Loan Modification Programs; Freddie Mac $1 Billion Performing Modified Loan Securitization; FinCEN Guidance on Virtual Currency...more

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