News & Analysis as of

Loans Mortgages Loan Modifications

Ballard Spahr LLP

Department of Veterans Affairs Enacts Sweeping Loss Mitigation Program Changes

Ballard Spahr LLP on

The Department of Veterans Affairs (VA) made significant changes to its loss mitigation program this month, launching its awaited Veterans Affairs Servicing Purchase Program, and implementing a 40-year loan modification term....more

K&L Gates LLP

COVID-19: Revenue Procedure 2021-12 Extension Of Treatment Of Mortgage Loan Forbearances And Modifications For Mortgage Loans In...

K&L Gates LLP on

Throughout the United States, periodic and ongoing businesses closures and disruptions continue to occur in response to the coronavirus (COVID-19) pandemic. The resulting economic distress has affected borrowers, including...more

Troutman Pepper

Mortgage Modifications: Senior Loans May Become Not So Senior

Troutman Pepper on

Sperry Assoc. Fed. Credit Union v. US Bank Nat’l Ass’n (In re White), 514 B.R. 365 (Bankr. E.D.N.Y. 2014) – A junior mortgagee sought to subordinate the senior mortgage loan based on an argument that modification of...more

Goodwin

Borrowers File Petition for Writ of Certiorari Related to Permanent Loan Modification Under HAMP

Goodwin on

Citing a circuit split among the Seventh, Ninth and Eleventh circuits and the “great importance” of settling the question, the borrowers filed a petition writ of certiorari in the Supreme Court asking the Court to determine...more

Allen Matkins

New California Court of Appeal Decision Reaffirms General Rule that Residential Lenders Owe no Duty to Borrowers, Including in the...

Allen Matkins on

In a recent decision, Lueras v. BAC Home Loans Servicing, LP, 2013 Cal. App. LEXIS 886, the California Court of Appeal returned to the general rule that, absent unique circumstances giving rise to a duty of care, lenders do...more

Troutman Pepper

Summary Of HUD’s LEAN 232 Program E-Mail Blast: Office Of Residential Care Facilities (ORCF), September 26, 2013

Troutman Pepper on

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

Orrick - Finance 20/20

Independent Foreclosure Review Settlement

Orrick - Finance 20/20 on

On January 7, the OCC and the Fed announced a settlement with 10 mortgage servicing companies which includes cash payments to eligible borrowers and other assistance, such as loan modifications and forgiveness of deficiency...more

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