News & Analysis as of

Loans GSE

Ballard Spahr LLP

Greetings from CREFC Miami

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The Ballard Spahr Team was thrilled to be here in Miami at the CREFC Conference and we wanted to share some day one takeaways with our clients and friends....more

Orrick, Herrington & Sutcliffe LLP

Fannie, Freddie announce LIBOR transition plans

On December 22, GSEs Fannie Mae and Freddie Mac announced replacement indices based on the Secured Overnight Financing Rate (SOFR) for their legacy LIBOR indexed loans and securities ...more

Perkins Coie

Certain Foreclosure Moratoria Set to Lift on July 31

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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

Locke Lord LLP

The Missing Link in the Chain: Second Circuit Grants Immunity to Assignees of GSE Loans

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With mortgage delinquencies nearly doubling during the pandemic and serious delinquencies (mortgages more than 90 days past due) increasing to levels not seen since 2008, the Second Circuit offered some reprieve to Government...more

Goodwin

Financial Services Weekly Roundup: Madden Fix/Valid When Made Rule Faces New Challengers

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In the News. On the heels of a lawsuit challenging the Office of the Comptroller of the Currency’s (OCC) recently issued Madden fix/valid when made rule, eight state attorneys general filed suit challenging a similar rule...more

Ballard Spahr LLP

Fannie Mae and Freddie Mac Update Selling FAQs to Address Loans in a COVID-19 Forbearance

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On June 11, 2020, Fannie Mae and Freddie Mac updated their selling FAQs to address the sale of loans in a forbearance because of a COVID-19 financial hardship. ...more

Mayer Brown

Revising the Regulatory Definition of a Qualified Mortgage

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When the federal Consumer Financial Protection Bureau (“CFPB”) last summer issued its Advance Notice of Proposed Rule Making (“ANPR”) to revise the definition of a “Qualified Mortgage” (“QM”) under the Dodd-Frank Act’s...more

Bilzin Sumberg

CFPB Decision on “GSE Patch” Revives Debate About Prudent Underwriting

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The Consumer Financial Protection Bureau (CFPB) recently announced that it will allow the so-called “GSE patch” to expire in January 2021. This patch permits Government-Sponsored Entities Fannie Mae and Freddie Mac to buy...more

Ballard Spahr LLP

CFPB Seeks Comment on Replacing Temporary GSE Patch Under Ability to Repay Rule

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The CFPB recently issued an advance notice of proposed rulemaking (ANPR) requesting comments on how to revise the qualified mortgage (QM) provisions of the Regulation Z ability to repay rule in view of the impending...more

Bradley Arant Boult Cummings LLP

How Nevada SB 306 and Court Rulings Have Changed the Foreclosure Landscape - Counsel's Corner with Jon Patterson

What changes were brought about to the HOA foreclosure sale landscape by the passage of SB 306 in Nevada? SB 306 contained a number of important revisions to Nevada’s super-priority lien statute that will provide...more

Bilzin Sumberg

FHFA Announces Reversal of Plans to Wind Down Fannie Mae and Freddie Mac

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Early last week, recently-appointed director of the Federal Housing Finance Agency (FHFA) Melvin L. Watt, announced plans to keep GSEs Fannie Mae and Freddie Mac going strong. This new strategy is in stark contrast to the...more

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