News & Analysis as of September 22, 2024

Mortgages › Canada Revenue Agency

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The term "mortgage" typically refers to a mortgage loan. A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +

FHFA Eliminates Adverse Market Refinance Fee

Goodwin on 7/30/2021

In This Issue. The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac will no longer charge lenders the Adverse Market Refinance Fee; the Federal Deposit Insurance Corporation (FDIC) is seeking...more

Community Reinvestment Act Regulations: Notice of Proposed Rulemaking

Orrick - Finance 20/20 on 10/5/2017

On September 22, 2017, multiple government agencies announced “… a proposed rule that would revise their regulations implementing the Community Reinvestment Act (CRA) (12 USC 2901 et seq.). The proposed rule would amend the...more

CFPB and DOJ announce redlining settlement

Ballard Spahr LLP on 9/28/2015

Consistent with recent indications from CFPB and Department of Justice officials that more redlining cases would soon be coming, the CFPB and DOJ have announced a proposed consent order with Hudson City Savings Bank to settle...more

Banks Get Big Win in Challenge to New York Ordinance

Bilzin Sumberg on 9/28/2015

Many big cities in the United States responded to the fallout from the 2008 financial crisis by passing local laws which pressure banks to invest more in low-income neighborhoods. Between 2010 and 2013, cities such as New...more

CFPB Issues Monthly Complaint Snapshot – Failure to Provide Normalization and Other Necessary Comparison Metrics Continues

MoFo Reenforcement on 8/28/2015

On August 15, 2015, the CFPB released its latest “consumer complaint snapshot.” The Bureau’s “snapshots” generally provide updated national complaint information, and further include product and geographic spotlights that...more

Prudential Regulators Clarify Supervisory Approach Relative to CFPB Mortgage Regulation

Ballard Spahr LLP on 12/20/2013

The Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the National Credit Union Administration, and the Office of the Comptroller of the Currency (the “Prudential Regulators”) have...more

HMDA … Are you ready to submit?

Dickinson Wright on 2/11/2013

Many of us in banking were glad to see 2012 come to a close and hopeful for a better 2013. To the extent that better means fewer regulatory issues, now is the time to prepare your bank’s Home Mortgage Disclosure Act (“HMDA”)...more

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