Mortgages, HELOC | JD Supra

The new CRA: Surprises and Problems by Omission

GeoDataVision on 2/7/2024

I have written a number of articles about the new CRA and the problems its requirements will impose on banks. But there are also problems posed by what the new Rule omits....more

Pleading Reasonable Reliance Is “Always Nettlesome”

Freiberger Haber LLP on 12/14/2023

By: Jeffrey M. Haber In TD Bank, N.A. v. Keenan, 2023 N.Y. Slip Op. 06158 (2d Dept. Nov. 29, 2023) (here), the Appellate Division, Second Department examined the often “nettlesome” question of whether a plaintiff claiming...more

The Promise and Potential of Blockchain and New UCC Article 12

Mayer Brown on 12/13/2023

Executive Summary: In the summer and fall of 2022, electronic transactions were undergoing a sea change, but riding different tides: in the summer, the Uniform Law Commission approved a set of amendments to the Uniform...more

CFPB Releases 2022 Mortgage Market Activity and Trends Report

Ballard Spahr LLP on 10/2/2023

The CFPB recently released a report entitled Data Point: 2022 Mortgage Market Activity and Trends based on 2022 data reported by lenders under the Home Mortgage Disclosure Act (HMDA)....more

Texas Home Equity Lenders: Understanding New Legislative Changes

McGlinchey Stafford on 6/15/2023

Release of Liens- One statute specifically affects mortgage servicers and mortgagees. The statute (House Bill 219) adds Section 343.108 to the Texas Finance Code, which requires a mortgage servicer or mortgagee to deliver a...more

CFPB Bites of the Month - 2022 Annual Review - Mortgage

Hudson Cook, LLP on 1/13/2023

In this article, we share a timeline of our monthly "bites" for 2022 applicable to the Mortgage industry. So, what happened in 2022?...more

CFPB Addresses Mortgage Financing Options in a Higher Rate Environment

Ballard Spahr LLP on 1/9/2023

The CFPB recently addressed mortgage financing options in view of the current higher mortgage loan interest rate environment. The CFPB comments on adjustable rate mortgage (ARM) loans, temporary buydowns, home equity lines...more

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

Alston & Bird on 12/19/2022

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

CFPB Issues Final Libor Transition Rules

Holland & Knight LLP on 12/21/2021

The Consumer Financial Protection Bureau (the Bureau) has issued final regulations (Final Regulations) to facilitate the transition away from Libor (the London Interbank Offered Rate) in the consumer credit market and to...more

DEBT: The Divorce Lawyer’s New Frontier

Fox Rothschild LLP on 3/30/2021

It’s always been there. Debt. Even though the Pennsylvania Divorce Code does not really mention it by name. If you speak to the hearing officers who draw the assignment of effecting equitable distribution, they respond...more

Rehearing Recently Sought in South Carolina Appeals Court Case That May Affect the Priority of Refinance Mortgages

Nelson Mullins Riley & Scarborough LLP on 12/30/2020

The South Carolina Court of Appeals rejected the replacement mortgage doctrine on Nov. 25, 2020 and held a home equity line of credit had priority over a subsequent mortgage that secured refinancing of a mortgage prior in...more

Some COVID-Accelerated Changes in the Residential Home Buying and Financing Space Are Here to Stay

Dechert LLP on 11/17/2020

Fintech has been changing the process of buying a residential home for years, but the pandemic has boosted the speed of change into hyperdrive. While some of these innovations may not be required after shutdowns are eased and...more

CFPB Issues Proposed Libor Transition Rules

Holland & Knight LLP on 6/19/2020

The Consumer Financial Protection Bureau (the Bureau) has issued proposed regulations (Proposed Regulations) to facilitate the transition away from Libor (the London Interbank Offered Rate) in the consumer credit market, and...more

Is The Reverse Mortgage A Viable Option?

Fox Rothschild LLP on 5/19/2020

It is said that desperate times call for desperate measures. Many people out there today are facing some financial headwinds that were not reasonably foreseeable a few months ago. Today they have businesses to operate or even...more

DOJ settles redlining lawsuit against First Merchants Bank

Ballard Spahr LLP on 6/19/2019

The U.S. Department of Justice announced last Thursday that it had reached an agreement with First Merchants Bank, an Indiana state-chartered bank, to settle the redlining lawsuit that the DOJ filed against the bank on June...more

CFPB Provides Additional Guidance on HMDA Partial Exemption

Ballard Spahr LLP on 9/4/2018

The CFPB recently released an interpretive and procedural rule to implement and clarify the partial exemption from the Home Mortgage Disclosure Act (HMDA) adopted in the Economic Growth, Regulatory Relief, and Consumer...more

CFPB Addresses Partial HMDA Exemption for Certain Depository Lenders

Ballard Spahr LLP on 7/6/2018

The Consumer Financial Protection Bureau (CFPB) recently issued a statement regarding the partial exemption from Home Mortgage Disclosure Act (HMDA) reporting requirements for certain lower mortgage volume depository...more

Negotiability of HELOC Notes under Florida Law

BCLP on 6/29/2018

In Third Fed. Sav. & Loan Ass’n of Cleveland v. Koulouvaris, No. 2D17-773, 2018 WL 2271112 (Fla. 2d DCA 2018), Florida’s Second District Court of appeal analyzed, in the context of trial exhibit authentication, whether the...more

Real Property, Financial Services, & Title Insurance Update: Weeks Ending May 18 & 25, 2018

Carlton Fields on 6/6/2018

REAL PROPERTY UPDATE - Foreclosure/Standing: bank's allegation in complaint that it acquired loan and possessed both legal and beneficial interest in note and mortgage prior to filing complaint, coupled with the subsequent...more

S.2155 Does Not Facilitate Discriminatory Lending

Ballard Spahr LLP on 3/19/2018

In a blog post entitled “How S.2155 (the Bank Lobbyist Act) Facilitates Discriminatory Lending” Professor Adam Levitin claimed that “This bill functionally exempts 85% of US banks and credit unions from fair lending laws in...more

Texas' Proposition 2 Expands Home Equity Loan Market for Lenders and Consumers

Troutman Pepper on 11/21/2017

On November 7, Texans approved Proposition 2 by a more than 2-1 majority. The measure amends section 50(a) of Article 16 of the Texas Constitution, making changes to the home equity loan (HEL) market in the state. Notably,...more

CFPB Issues Update to HMDA Small Entity Compliance Guide

Ballard Spahr LLP on 10/16/2017

The Consumer Financial Protection Bureau has issued a second version of the Home Mortgage Disclosure Act (Regulation C) Small Entity Compliance Guide. The updated version incorporates various changes to the HMDA rule that...more

CFPB Finalizes Alignment of Regulations B and C on Consumer Ethnicity and Race Information

Ballard Spahr LLP on 10/2/2017

On September 21, the CFPB finalized its proposal to amend Regulation B requirements related to collection of consumer ethnicity and race information, in order to resolve the differences between Regulation B and revised...more

CFPB updates HMDA rule guidance materials

Ballard Spahr LLP on 10/2/2017

The Consumer Financial Protection Bureau (CFPB) recently posted on its website updated versions of guidance in connection with the revisions to the Home Mortgage Disclosure Act (HMDA) rules that become effective on January 1,...more

CFPB finalizes temporary increase of HMDA HELOC reporting threshold and other minor HMDA amendments

Ballard Spahr LLP on 8/25/2017

As we previously reported, in October 2015, the CFPB adopted significant revisions to Regulation C, the Home Mortgage Disclosure Act (HMDA) rule, most of which become effective January 1, 2018. As a result of the revisions,...more

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