News & Analysis as of

Loans Underwriting

Perkins Coie

Big Move in Celsius – Will Parties Get a Deeper Look from an Examiner’s Review

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Something big happened in the Celsius bankruptcy case last week. The filed by the Office of The United States Trustee (“UST”), a part of the US Department of Justice, has filed a motion asking the Court to appoint an examiner...more

Alston & Bird

Payday Lending: A Juxtaposition of Recent CFPB Actions

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A&B ABstract: Three recent actions by the Consumer Financial Protection Bureau (“CFPB”), on consecutive days, highlights inconsistencies in the CFPB’s current approach to payday lending....more

Patterson Belknap Webb & Tyler LLP

The Importance of Loan Underwriting When Restrictions on Bankruptcy Cannot Singlehandedly Save the Day: Sutton 58 Associates LLC...

In sophisticated real estate financing transactions, most prudent lenders attempt to deter borrowers from filing for bankruptcy before loans are paid in full by providing in loan documents that such a filing constitutes an...more

Bilzin Sumberg

Coronavirus Q&A: Current State of the Hotel Market

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In this edition of Coronavirus Q&A, Bilzin Sumberg's real estate leader discussed the current challenges that hotel owners face and the rocky road ahead for that sector. Originally Published in Law360 - August 2020....more

Goodwin

It’s Time for a Fintech to Help Bank on Small-Dollar Lending in the U.S.

Goodwin on

As the U.S. wrestles with COVID-19, federal banking agencies are encouraging banks and credit unions to make responsible small-dollar loans to consumers and small businesses. Partnering with a financial technology company...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

Robins Kaplan LLP

Financial Daily Dose 1.24.2020 | Top Story: OCC Hits Former Wells Fargo Execs With Enforcement Actions Over Sham-account Scandal

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The OCC announced yesterday that it’s bringing enforcement actions against five former Wells Fargo bank executives as part of their alleged roles in the bank’s sales practices scandal. The agency further revealed that it’s...more

Orrick - Finance 20/20

SDNY Court Appoints Lead Master to Review 9,300 UBS Loans for Material Breach Following UBS Putback Trial

Orrick - Finance 20/20 on

On September 6, 2016, following a 3-week long bench trial in May, U.S. District Judge P. Kevin Castel of the Southern District of New York held that he will appoint a Lead Master to determine whether there are “material...more

Orrick - Finance 20/20

Advisory on Effective Risk Management Practices for Purchased Loans and Purchased Loan Participations

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On November 6, 2015, the Federal Deposit Insurance Corporation issued an Advisory (the “Updated Advisory”) (FIL-49-2-15) to update information contained in the FDIC Advisory on Effective Credit Risk Management Practices for...more

Locke Lord LLP

FDIC Updates Guidance on Risk Management Practices in Purchasing Loans and Loan Participations

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On November 6, 2015, the Federal Deposit Insurance Corporation (FDIC) issued Financial Institution Letter 49-2015 (FIL-49-2015), Advisory on Effective Risk Management Practices of Purchased Loans and Purchased Loan...more

Spilman Thomas & Battle, PLLC

SBA Lending May Be Critical to Future Community Banking

Headlines should read, “Congress and President Do Something Right!” On July 28, 2015, only one day after Congress passed the matter, the President signed into law an increase in Small Business Administration (“SBA”) lending,...more

Troutman Pepper

Mid-Market Trends - Leveraged Lending and the Current Regulatory Environment

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Financial institutions, institutional investors and liquidity providers to the leveraged loan markets are finding themselves increasingly subject to new regulation in the United States and abroad. Both global and U.S....more

Davis Wright Tremaine LLP

Treasury Department RFI on Online Marketplace Lending Signals Potential Shift Towards Regulation of Small Business Loans

The Treasury Department recently issued a request for information to explore various aspects of “online marketplace lending.” The RFI seeks comment on a broad array of online financial services companies that lend not only to...more

Spilman Thomas & Battle, PLLC

Lenders Versus Mechanics’ Liens in West Virginia: A Question of Priorities

Finally! After days, weeks, sometimes even months of waiting, you as the lending officer received approval from corporate that underwriting has just approved your borrower and you can proceed with the term sheet. Time to put...more

Ballard Spahr LLP

Vermont Amends Provision Governing Mortgage Brokers Engaging in Loan Processing or Underwriting

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Vermont recently provided an exemption from the requirement that mortgage brokers provide a mortgage broker agreement in instances where the broker acts as an independent contractor loan processor or underwriter for a...more

Ballard Spahr LLP

OCC and FDIC proposed guidance could effectively ban deposit advance loans

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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

Dechert LLP

American Bankers Association Real Estate Lending Conference - Qualified Mortgages: A Sea Change For Mortgage Lenders

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In This Presentation: - The Qualified Mortgage (QM) Rule - Small Creditor QM Proposal - The Ability-to-Repay (ATR) Rule: What It Says and What It Means - Liability for Failure to Comply with the ATR and QM...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2013 Insights: Capital Markets

2012 was a robust year for both the U.S. leveraged loan and high-yield markets, including record-breaking deal volume for the latter. These conditions provided fertile ground for borrowers and issuers in U.S. markets to fund...more

Snell & Wilmer

The Consumer Financial Protection Bureau Finalizes the Ability-To-Repay and Qualified Mortgage Rule

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The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) amended the Truth in Lending Act (TILA) to provide for an expanded ability-to-repay requirement for the mortgage lending industry. The Consumer...more

Foley & Lardner LLP

Final Rule Issued on Ability-to-Repay/Qualified Mortgages

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The Consumer Financial Protection Bureau (CFPB) issued its final ability to repay rule (Rule) on January 10, 2013. The Rule implements ability-to-repay provisions of the Dodd-Frank Act, which imposed strict underwriting...more

Troutman Pepper

CFPB Issues Final Ability To Repay Rule And ‘Qualified Mortgage’ Standard

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On January 10, the Consumer Financial Protection Bureau (CFPB) issued a final rule, as mandated by provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA), which requires mortgage lenders to consider...more

Ballard Spahr LLP

CFPB Final Ability-To-Repay Rule Prompts Cautious Optimism from Industry

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The CFPB has issued its long-awaited ability to repay/qualified mortgage rule, and at first glance, it appears to warrant cautious optimism for the mortgage industry....more

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