News & Analysis as of

Mortgages Fair Housing Act (FHA) Loans

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 -
Ballard Spahr LLP

HUD Issues 2023 Update to Housing Equity Action Plan

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The U.S. Department of Housing and Urban Development (HUD) recently issued a press release announcing a 2023 update to its Equity Action Plan. The Equity Action Plan is part of HUD’s efforts to implement President Biden’s...more

Ballard Spahr LLP

HUD Recently Announced the 2024 Loan Limits for FHA Forward Mortgages and HECMs

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The U.S. Department of Housing and Urban Development (HUD) recently announced the 2024 loan limits for FHA insured forward mortgage loans and FHA insured Home Equity Conversion Mortgages (HECMs). The announcements were made...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

Alston & Bird

Assumptions on the Rise: Are You Ready for Mortgage Assumptions?

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A&B ABstract: Mortgage assumptions – where a buyer assumes the existing mortgage loan of a seller – have fluctuated in popularity since the 1980s....more

Alston & Bird

Is the DOJ (De Facto) Enforcing the Community Reinvestment Act?

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A&B Abstract: Furthering the Justice Department’s Combating Redlining Initiative, the Department of Justice has announced another redlining settlement.  But this settlement is different – this one involves a bank that has...more

McGlinchey Stafford

MBA Report Reveals Drop in Residential Mortgage Loan Delinquency Rate

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The Mortgage Bankers Association’s (“MBA”) First Quarter 2022 National Delinquency Survey revealed that the delinquency rate for mortgage loans on 1–4-unit residential properties decreased to 4.11% of all loans outstanding at...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

Hinshaw & Culbertson LLP

HECMs in the Regulatory and Congressional Spotlight

Home Equity Conversion Mortgage (HECM) loans have attracted significant scrutiny from federal agencies and Congress in recent weeks. The Department of Treasury (the "Treasury") and Department of Housing and Urban Development...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The US and China have scheduled two more rounds of high-level trade talks with hopes for an agreement between the economic superpowers by late April, even as China has begun to push back against some of the US’s major...more

Ballard Spahr LLP

Fair Lending Director Ficklin Discusses Small Business Lending, LGBT issues, LEP consumers and Inclusive Communities at ABA...

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Last Thursday, I had the pleasure of teaching a class on payments and banking products to new lawyers at the American Bar Association’s Consumer Financial Services Institute. I arrived early for the class and got to hear a...more

Stinson LLP

CFPB and DOJ Announce Joint Action Against Hudson City Savings Bank, F.S.B.

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On September 24, 2015, the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) announced a joint action against Hudson City Savings Bank, F.S.B. (Hudson). The complaint alleges that Hudson...more

Ballard Spahr LLP

New York Department of Financial Services Issues Emergency Regulations Revising Subprime Calculation

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On September 30, 2013, the New York Department of Financial Services (DFS) adopted emergency regulations revising the calculation for subprime loans and sent a letter to supervised institutions explaining the revisions. ...more

K&L Gates LLP

Guilty Unless Proven Innocent: FHA’s Potential New Enforcement Regime

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The use of statistical sampling to evidence compliance violations without actually performing loan level reviews is at the center of a new enforcement regime that the U.S. Department of Housing and Urban Development (“HUD” or...more

K&L Gates LLP

When Almost Is Not Good Enough

K&L Gates LLP on

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

Levenfeld Pearlstein, LLC

Condo Adviser: What is 'FHA approved,' exactly?

Chicago Tribune Condo Adviser columnist Howard Dakoff on the benefits of, and myths surrounding, loans backed by the Federal Housing Administration....more

Miller Starr Regalia

Failure to Conduct Face-To-Face Interview With Borrower Precludes Nonjudicial Foreclosure Sale Under FHA Loan – Pfeifer v....

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California courts have to date been reluctant to inject themselves into the comprehensive nonjudicial foreclosure scheme enacted by the Legislature at Civil Code section 2924 et seq....more

Troutman Pepper

Summary Of HUD’s New Draft LEAN Loan Documents, December 21, 2012

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On September 7, 2012, the Federal Housing Administration (FHA) published new regulations for the Section 232 Healthcare Facility Insurance Program in the Federal Register. FHA had previously proposed new regulations and loan...more

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