Loans

In re School Specialty, Inc., Case No. 13-10125 (KJC) (Bankr. D. Del. Apr. 22, 2013)

by Marc Skapof | BakerHostetler on 5/24/2013

In an age of historically low interest rates, lenders rely on fee income and other devices to enhance their returns. One of these mechanisms -- and one that can have dramatic consequences for a borrower -- is the inclusion of...more

Lenders Beware: Debt Can Now Be Recharacterized as Equity in the Ninth Circuit

by Ted Fates, Heather Riley | Allen Matkins Leck Gamble Mallory & Natsis... on 5/23/2013

For the last 27 years, bankruptcy courts in the Ninth Circuit consistently held that debt could not be recharacterized as equity unless the movant proved inequitable conduct by the debt holder. On April 30, 2013, the Ninth...more

TILA Prohibition on Mandatory Arbitration Provisions in Mortgage Agreements Takes Effect June 1, 2013

by Loeb & Loeb LLP on 5/22/2013

The Consumer Financial Protection Bureau has enacted a new rule that will prohibit the inclusion of mandatory arbitration provisions and waivers of federal statutory causes of action in consumer mortgage and home equity loan...more

Bill on Bankruptcy: The Market's Unquenchable Thirst for Junk [Video]

by Bloomberg Law on 5/22/2013

May 22 (Bloomberg) -- AMF Bowling Worldwide Inc. and Ahern Rentals Inc. are prime examples of the frothy market where junk-bond investors are fearless in the face of risk, as Bloomberg Law's Lee Pacchia and Bloomberg News...more

Indiana Revises Numerous Licensing, Consumer Credit, And Banking Provisions

by BuckleySandler LLP on 5/22/2013

On May 9, Indiana enacted HB 1081, which makes numerous changes to the state’s consumer lending, licensing, and banking laws....more

HUD Issues Series Of Mortgagee Letters

by BuckleySandler LLP on 5/21/2013

Over the past week, HUD issued numerous mortgagee letters applicable to single-family mortgagees....more

Paying Your Bills After Your Work Injury

by Gelman Gelman Wiskow & McCarthy LLC on 5/20/2013

If you were injured at work and are disabled you may have many questions, such as, who is going to pay for your hospital and medical costs if you can’t work?...more

What Factors Establish The Lien Priority Of A Refinanced Loan?

by Valerie Marciano | Jaburg Wilk on 5/17/2013

The legal doctrine of "equitable subrogation" has recently become familiar to lenders who refinanced or will be refinancing existing loans secured by real property....more

The Entrepreneurs Report Q1 2013

by Sundance Banks, Caitlin Courtney, Herb Fockler | Wilson Sonsini Goodrich & Rosati on 5/14/2013

In this issue: - From the WSGR Database: Financing Trends for Q1 2013 - Valuations by Industry Segment - Convertible Notes vs. Priced Equity in Seed Round Financings: An Illustration of Capitalization...more

Notes from CFPB Education Conference for State Attorneys General

by Reid Herlihy | Ballard Spahr LLP on 5/13/2013

The George Mason University School of Law, Law & Economics Center recently hosted a conference titled “Understanding the Consumer Financial Protection Bureau,” through GMU’s Attorneys General Education Program. Founded in...more

Green Building Update -- May 2, 2013

by Bryan C. Jackson | Allen Matkins Leck Gamble Mallory & Natsis... on 5/10/2013

Green Building Focus - Revolving loans would quadruple Prop 39 investments: UCLA Newsroom - Apr 18: Proposition 39, the California Clean Energy Jobs Act, passed in 2012. Prop 39 requires businesses operating in...more

Summary Of HUD’s LEAN 232 Program E-Mail Blast: Office Of Residential Care Facilities (ORCF), April 29, 2013

by Christine Waldmann Carmody, Blair L. Schiff | Pepper Hamilton LLP on 5/10/2013

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

CFPB Issues Subpoenas to Motor Vehicle Lenders: Discretion = Discrimination?

by David Dresher, Elena Lovoy | Bradley Arant Boult Cummings LLP on 5/10/2013

The Consumer Financial Protection Bureau (CFBP) has taken another step in its attempts to ensure “fair” pricing in indirect motor vehicle financing transactions. This latest development highlights the CFPB’s focus on the...more

Fannie Mae Releases Loan Performance Data

by BuckleySandler LLP on 5/9/2013

On April 30, Fannie Mae released loan performance data on a portion of its single-family mortgage loans, which includes a subset of Fannie Mae’s 30-year, fully amortizing, full documentation, single-family, conventional...more

Voluntary Secondary Market Disclosure About Bank Loans

by King & Spalding on 5/8/2013

Recently, a Task Force made up of representatives of the American Bankers Association, the Bond Dealers of America, GFOA, the Investment Company Institute, the National Association of Bond Lawyers, the National Federation of...more

Indiana Increases Max Credit Service Charge, Supervised Loan Finance Charge

by BuckleySandler LLP on 5/7/2013

On April 26, Indiana enacted SB 238, which increases the maximum credit service charge for a consumer credit sale other than one involving a revolving charge account and the maximum finance charge for a supervised loan. ...more

Successor Banks of FDIC assets Not so Jolly after Jolley - A New Duty to Investigate?

by Allan Ickowitz, John Kim, Jennifer Meeker | Nossaman LLP on 5/7/2013

A recent California case appears to contradict the general rule holding that a successor bank that has acquired a commercial loan through an FDIC receivership may owe a duty to a commercial borrower to reasonably investigate...more

Ninth Circuit Widens Circuit Split Over Application of State or Federal Bankruptcy Law To Determine Whether Claims of...

by Alyson Allen, Mark Bane, Stephen Moeller-Sally, James Wilton | Ropes & Gray LLP on 5/3/2013

In an important decision for private equity sponsors and other insiders who advance loans to their businesses, on April 30, 2013, the Ninth Circuit Court of Appeals in In re Fitness Holdings International confirmed that...more

Louisiana Receivers in Foreclosure: Application of Payments to Costs and Expenses

by Stephen Chiccarelli | Baker, Donelson, Bearman, Caldwell &... on 5/2/2013

In line with our prior posts on Louisiana Keepers, the following is a sample of a typical issue that can arise in the Keeper context regarding the payment of costs and expenses associated with a loan. Question: Our...more

FDIC and OCC Propose Limits on Deposit Advance Loans

by Jeffrey M. Werthan | Katten Muchin Rosenman LLP on 5/1/2013

On April 25 the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) proposed for public comment supervisory guidance to institutions subject to their jurisdictions (i.e.,...more

OCC and FDIC proposed guidance could effectively ban deposit advance loans

by Jeremy T. Rosenblum | Ballard Spahr LLP on 4/30/2013

Last Thursday, the Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation proposed guidance on deposit advance loans. The Federal Reserve Board declined to join the OCC and FDIC and instead...more

Banking & Financial Services E-Note - April 25, 2013

by John Chiles, Benjamin Coulter, Bryan Glover, John Michael Kearns, Mignon Lunsford, Zachary Miller, Jordan Teague | Burr & Forman on 4/26/2013

In This Issue: - Regulators Could Step in with Tougher Rules as Bank Profits Rise - Bill Would Force Study of Basel III Impact on Bank Capital Costs - Regulator Wants Enforcement Powers Against Bank...more

Hate the Sin, Love the Sinner: MTC's Financial Institution Apportionment Effort

by Sutherland Asbill & Brennan LLP on 4/26/2013

The Multistate Tax Commission’s (MTC) Financial Institutions Working Group held its monthly meeting on April 23, 2013 to discuss a proposed apportionment formula for financial institutions. By way of background, since...more

Student Loans: Nondischargeability Questioned in Seventh Circuit and Beyond

by Adam McNeile | Sheppard Mullin Richter & Hampton LLP on 4/26/2013

Conventional wisdom says that it is nearly impossible to obtain a discharge of student loan debt in bankruptcy. Indeed, Section 523(a)(8) expressly excepts student loans from discharge, unless the exception of such...more

New Risks for Indirect Lenders

by Michael Lueder | Foley & Lardner LLP on 4/23/2013

Last month the Consumer Financial Protection Bureau announced that it will start holding banks accountable for the discriminatory actions of indirect auto lenders. The issue arises when a consumer goes to purchase a car and...more

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In re School Specialty, Inc., Case No. 13-10125 (KJC) (Bankr. D. Del. Apr. 22, 2013)

Lenders Beware: Debt Can Now Be Recharacterized as Equity in the Ninth Circuit

TILA Prohibition on Mandatory Arbitration Provisions in Mortgage Agreements Takes Effect June 1, 2013

Bill on Bankruptcy: The Market's Unquenchable Thirst for Junk [Video]

Indiana Revises Numerous Licensing, Consumer Credit, And Banking Provisions

HUD Issues Series Of Mortgagee Letters

Paying Your Bills After Your Work Injury

What Factors Establish The Lien Priority Of A Refinanced Loan?

The Entrepreneurs Report Q1 2013

Notes from CFPB Education Conference for State Attorneys General

Green Building Update -- May 2, 2013

Summary Of HUD’s LEAN 232 Program E-Mail Blast: Office Of Residential Care Facilities (ORCF), April 29, 2013

CFPB Issues Subpoenas to Motor Vehicle Lenders: Discretion = Discrimination?

Fannie Mae Releases Loan Performance Data

Voluntary Secondary Market Disclosure About Bank Loans

Indiana Increases Max Credit Service Charge, Supervised Loan Finance Charge

Successor Banks of FDIC assets Not so Jolly after Jolley - A New Duty to Investigate?

Ninth Circuit Widens Circuit Split Over Application of State or Federal Bankruptcy Law To Determine Whether Claims of...

Louisiana Receivers in Foreclosure: Application of Payments to Costs and Expenses

FDIC and OCC Propose Limits on Deposit Advance Loans

OCC and FDIC proposed guidance could effectively ban deposit advance loans

Banking & Financial Services E-Note - April 25, 2013

Hate the Sin, Love the Sinner: MTC's Financial Institution Apportionment Effort

Student Loans: Nondischargeability Questioned in Seventh Circuit and Beyond

New Risks for Indirect Lenders

Bill on Bankruptcy: The Market's Unquenchable Thirst for Junk [Video]

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