News & Analysis as of

Loans Residential Real Estate Market

Sheppard Mullin Richter & Hampton LLP

HUD Updates Home Equity Conversion Rules for Purchases

On April 26, the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2024-06, announcing changes to the Home Equity Conversion Mortgages (HECMs) for purchases (H4P loans), a mortgage program...more

Ballard Spahr LLP

VA Eliminates HUD/VA Addendum to Uniform Residential Loan Application

Ballard Spahr LLP on

In Circular 26-23-03 the U.S. Department of Veterans Affairs (VA) announced the elimination of the HUD/VA Addendum to Uniform Residential Loan Application (VA Form 26-1802a), as well as the Federal Collection Policy Notice...more

Ballard Spahr LLP

FHFA Will Exclude Language Preference Question From New URLA

Ballard Spahr LLP on

The Federal Housing Finance Agency (FHFA) has updated the industry on its progress in making changes to the Uniform Residential Loan Application (URLA). FHFA restated that their goal has been to finalize the new URLA by the...more

Carlton Fields

Proposed Rule Changes to Florida’s Affordable Housing Allocation and Funding Process

Carlton Fields on

The Florida Housing Finance Corporation (“Florida Housing”) has proposed changes to its rules governing the affordable housing allocation and funding process. The changes are to Rule Chapters 67-21, 67-48, and 67-60, F.A.C....more

Snell & Wilmer

Guarantors’ “Lost Profits” Completely Offset Lender’s Deficiency Claim

Snell & Wilmer on

Believe it or not, lenders can breach loan agreements too…and when they do, there can be significant consequences. In Great Western Bank v. LJC Dev., LLC, 726 Ariz. Adv. Rep. 21 (Ariz. Ct. App. Nov. 10, 2015), the Court of...more

Robinson+Cole Data Privacy + Security Insider

New Landmark Consumer Disclosure Rules Trigger Privacy Concerns

The Consumer Financial Protection Bureau’s new “Know Before You Owe” mortgage disclosure rule is designed to prevent surprises at the closing table, but with increased transparency come concerns over borrower and seller...more

Burr & Forman

TRID: New Requirements for Real Estate Closing Disclosures Are Here, Will There be A Grace Period?

Burr & Forman on

It’s finally here. Over the weekend, the Consumer Financial Protection Bureau’s (CFPB) long awaited and oft delayed integration of the disclosures required by the Federal Truth in Lending Act (TILA) and Real Estate...more

Stinson LLP

CFPB Releases New Online Tools for Consumers Ahead of the Know Before You Owe Initiative

Stinson LLP on

In November 2013, as mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Consumer Financial Protection Bureau (“CFPB”) combined various federal mortgage disclosures that lenders are required to...more

Stinson - Corporate & Securities Law Blog

Can You be Regulated by the CFPB?

The Consumer Financial Protection Bureau, or CFPB, was created to enforce various consumer finance laws like the Equal Credit Opportunity Act, Fair Credit Reporting Act, Fair Debt Collection Practices Act, Home Mortgage...more

Burr & Forman

TRID: New Mortgage Loan and Real Estate Closing Disclosure Requirements Already Causing Headaches

Burr & Forman on

The long heralded TILA/RESPA Integrated Disclosures (TRID) are coming, and they are already causing some headaches in the real estate market. Congress provided for the new disclosures in the 2010 Dodd-Frank Wall Street Reform...more

Burr & Forman

CFPB Provides Guidance on Private Mortgage Insurance Cancellation and Termination Requirements

Burr & Forman on

On August 4, 2015 the Consumer Financial Protection Bureau (CFPB) issued a compliance bulletin on the private mortgage insurance (PMI) cancellation and termination provisions contained in the Homeowners Protection Act (HPA)....more

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