News & Analysis as of

Mortgages Fair Housing Act (FHA) Lenders

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 +
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 uses that property as collateral for the loan. less -
DLA Piper

Digital Transformation: eSignature and ePayment News and Trends - July/August 2024

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Today’s ever-shifting business environment means that consumers, businesses, employers, and employees all expect to transact digitally. To remain efficient and competitive, companies must digitally transform their businesses....more

Troutman Pepper

New Policies From FHA and FHFA Allow Borrowers to Challenge Property Appraisals

Troutman Pepper on

On May 1, the Federal Housing Administration (FHA), and the Federal Housing Finance Agency (FHFA) announced new policies that will allow borrowers to challenge property appraisals they believe to be inaccurate or biased....more

Alston & Bird

Appraisal Bias Settlement: Potential Roadmap

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What Happened? The lender and consumers reached a settlement in an appraisal bias case, Nathan Connolly and Shani Mott v. Shane Lanham, 20/20 Valuations, LLC, and loanDepot.com, LLC, filed in Maryland District Court, that...more

Bradley Arant Boult Cummings LLP

What COVID Home Equity Repayment Plan Means For Lenders | Insights & Events

The Federal Housing Administration recently issued Mortgagee Letter 2022-23, establishing a new COVID-19 Home Equity Conversion Mortgage Property Charge Repayment Plan. The COVID-19 HECM Property Charge Repayment Plan would...more

Ballard Spahr LLP

HUD Announces Unique Entity Identifier Requirement for FHA Lenders

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In Mortgagee Letter 2022-14 , dated August 23, 2022, the U.S. Department of Housing and Urban Development (HUD) announced a Unique Entity Identifier (UEI) requirement for Federal Housing Administration (FHA) lenders and...more

Perkins Coie

Certain Foreclosure Moratoria Set to Lift on July 31

Perkins Coie on

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

White & Case LLP

Consumer financial services: The road ahead: Mortgage origination and servicing

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In 2018, the CFPB issued multiple rules, and Congress passed legislation, to clarify, revise and update the regulatory framework applicable to the home mortgage origination and servicing market....more

Bradley Arant Boult Cummings LLP

FHA Withdraws Proposed Rule Establishing Insurance Claim Deadline

Recently, the Federal Housing Administration (FHA) withdrew part of a proposed rule that sought to establish a maximum time period within which an FHA approved mortgagee must file a claim with FHA for insurance benefits. The...more

Ballard Spahr LLP

CFPB to issue whitepaper on methodology for identifying auto finance discrimination and consider use of advisory opinions

Ballard Spahr LLP on

While Director Cordray’s appearance at the House Financial Services Committee’s hearing on the CFPB’s fifth Semi-Annual Report yesterday was accompanied by the usual dose of political theater, his testimony did yield the...more

King & Spalding

“Predatory Lending” Claims by Cities and Counties Against Financial Institutions Escalate in 2014

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Cities and counties that have experienced increased foreclosure and vacancy rates in the aftermath of the housing market crash of 2007-2008, perhaps emboldened by recent court decisions, have recently filed several new...more

Ballard Spahr LLP

FHA Extends Recertification Deadline for Title I and Title II Mortgagees with Fiscal Year End of December 31, 2013

Ballard Spahr LLP on

The Federal Housing Administration (FHA) recently issued Mortgagee Letter 2013-42, which extends the annual recertification filing deadline for Title I and Title II lenders and mortgagees that have a fiscal year end of...more

Poyner Spruill LLP

Changes of Note to Lenders From the 2013 Legislative Long Session

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During the 2013 legislative session, several new laws were passed which directly affect the banking and financial services industries. While most of these changes are relatively minor, they are certainly worth noting. Below...more

K&L Gates LLP

When Almost Is Not Good Enough

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Where I went to school anything between a 90% and 100% was an “A.” Yes, there were gradations and curves. Maybe anything between a 90 and 93 was an A-. But I had to fall well below a 90 before my parents severely criticized...more

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