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Loan Modifications › Federal Deposit Insurance Corporation

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... more +
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 -
Orrick, Herrington & Sutcliffe LLP

FDIC announces Georgia disaster relief

Orrick, Herrington & Sutcliffe LLP on

On January 20, the FDIC issued FIL-05-2023 to provide regulatory relief to financial institutions and help facilitate recovery in areas of Georgia affected by severe storms, straight-line winds, and tornadoes on January 12. ...more

Butler Snow LLP

FFIEC Issues New Guidance on Loan Accommodations Related to COVID-19

Butler Snow LLP on

At the onset of the pandemic, many financial institutions offered credit accommodations, such as short-term deferrals and other loan modifications, to borrowers in response to the significant adverse impact caused by...more

Akerman LLP

Regulatory Guidance for Banks, Lenders, and Licensed Mortgage Originators Regarding Coronavirus (UPDATED)

Akerman LLP on

(New information added on April 17, 2020) - As the coronavirus crisis unfolds, federal and state financial services regulatory agencies have taken multiple actions impacting banks, non-bank financial service providers, and...more

White and Williams LLP

Loan Modifications Due to COVID-19 Pandemic: FDIC Answers CARES Act FAQs

White and Williams LLP on

In support of financial institutions and borrowers during the COVID-19 pandemic, the newly enacted Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes a number of provisions permitting lenders to suspend,...more

Snell & Wilmer

Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by COVID-19

Snell & Wilmer on

On March 22, an interagency statement was issued by the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of...more

Alston & Bird

Regulators Further Clarify Guidance Regarding Loan Modifications and Reporting

Alston & Bird on

Our Financial Services & Products Group examines how federal regulators – speaking with a single voice – will view loan modifications during the coronavirus pandemic....more

Amundsen Davis LLC

Feds Issue Guidance To Financial Institutions Working With Customers Affected By COVID-19

Amundsen Davis LLC on

As the Coronavirus Disease 2019 (COVID-19) continues to impact our nation, financial institutions are finding themselves in a situation wherein their customers are unable to, or are at risk of being unable to, make timely...more

Seyfarth Shaw LLP

Federal Agencies Issue Guidance on Loan Modifications Relating to COVID-19

Seyfarth Shaw LLP on

On March 22, 2020, in response to the growing anticipation for loan modifications necessitated by the implications of the Coronavirus Disease 2019 (“COVID-19”), the Federal Reserve, Federal Deposit Insurance Corporation,...more

Kramer Levin Naftalis & Frankel LLP

COVID-19 Update: Bank Regulators, Including the FDIC, Urge Financial Institutions To Collaborate With Pandemic-Affected Customers,...

Kramer Levin Naftalis & Frankel LLP on

On March 22, federal banking regulators, including the board of governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration, the Office of the...more

Sheppard Mullin Richter & Hampton LLP

Lenders Encouraged to Work with Customers in Response to COVID-19 Challenges

Sheppard Mullin Richter & Hampton LLP on

The Federal Deposit Insurance Corporation (the “FDIC”) issued a statement on March 13, 2020, encouraging financial institutions to take prudent steps to assist customers and communities affected by the Coronavirus Disease...more

Burr & Forman

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

Burr & Forman on

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

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