News & Analysis as of September 20, 2024

Loan Modifications

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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 +

Regulatory Guidance for Banks, Lenders, and Licensed Mortgage Originators Regarding Coronavirus (UPDATED)

Akerman LLP on 4/19/2020

(New information added on April 17, 2020) - As the coronavirus crisis unfolds, federal and state financial services regulatory agencies have taken multiple actions impacting banks, non-bank financial service providers, and...more

CFPB Issues Guiding Principles for Loss Mitigation after HAMP

Morrison & Foerster LLP on 9/6/2016

On August 2, 2016, the Consumer Financial Protection Bureau (“CFPB”) published a new guidance document titled CFPB’s Principles for the Future of Loss Mitigation (the “Guidance”), which outlines a recommended framework for...more

FHFA Announces Home Modification Program

MoFo Reenforcement on 4/22/2016

On April 14, 2016, the Federal Housing Finance Agency (“FHFA”) announced the launch of a principal reduction program for first-lien mortgages that are owned or guaranteed by Fannie Mae and Freddie Mac. According to the...more

FHFA Announces Program Changes to Aid Delinquent Borrowers

Goodwin on 4/18/2016

On April 14, 2016, the Federal Housing Finance Agency (FHFA) announced two changes concerning its policies affecting delinquent mortgage loans: first, it announced that Fannie Mae and Freddie Mac will offer mortgage...more

Extension of Loan Modification Programs

Orrick - Finance 20/20 on 6/3/2013

On May 30, Treasury and HUD announced an extension of the Making Home Affordable Modification Program (HAMP) through December 31, 2015. In addition, on May 30, the FHFA announced that it has directed Fannie Mae and Freddie...more

Orrick's Financial Industry Week In Review - June 3, 2013

Orrick, Herrington & Sutcliffe LLP on 6/3/2013

In This Issue: CFPB Final Rule Amendments to Ability to Repay and QM Rule; Extension of Loan Modification Programs; Freddie Mac $1 Billion Performing Modified Loan Securitization; FinCEN Guidance on Virtual Currency...more

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