News & Analysis as of September 23, 2024

Real Estate Market

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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 +

Treasury Recommends Sweeping Industry Changes for Mortgage Lenders and Servicers

Ballard Spahr LLP on 8/17/2018

As covered earlier this week in a legal alert, the U.S. Department of the Treasury issued a report recommending sweeping regulatory changes for consumer financial services. Within the report, the Treasury also recommended a...more

Recent MRB Administrative Actions Highlight that Minutiae Matters to HUD

Ballard Spahr LLP on 4/21/2017

On April 4, 2017, the Mortgagee Review Board (MRB) of the U.S. Department for Housing and Urban Development (HUD) published an entry in the Federal Register titled "Mortgagee Review Board: Administrative Actions." The entry...more

HUD expands fair housing liability to include LEP discrimination

Ballard Spahr LLP on 9/23/2016

Last week, HUD issued new guidance confirming that persons with limited English proficiency (LEP) are protected under the Fair Housing Act (FHA). LEP includes a limited ability to read, write, speak, or understand English. ...more

HUD Expands Fair Housing Protections

Ballard Spahr LLP on 9/21/2016

People with limited English proficiency (LEP) are protected under the Fair Housing Act (FHA) under new guidance announced by the U.S. Department of Housing and Urban Development (HUD). Housing providers can face liability for...more

Preparing for FHA PACE: What Mortgagees Need To Know Before September 17

Bradley Arant Boult Cummings LLP on 9/13/2016

The U.S. Department of Housing and Urban Development (HUD) and Federal Housing Administration (FHA) issued Mortgagee Letter 2016-11, which specifically permits properties encumbered with a Property Assessed Clean Energy...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

New Law Affects FHA Requirements for Condominium Financing

Ballard Spahr LLP on 8/9/2016

President Obama signed the Housing Opportunity Through Modernization Act (H.R. 3700) into law on July 29. Title III of the Act will significantly modify Federal Housing Administration (FHA) condominium mortgage insurance...more

Appellate Court Holds HUD Regulations Don’t Provide Private Right of Action Unless Incorporated into Written Agreement

Ballard Spahr LLP on 8/9/2016

A federal appeals court recently decided that a plaintiff could not assert a claim against the issuer of a reverse mortgage for breach of regulations issued by the U.S. Department of Housing and Urban Development (HUD), when...more

HMDA resources for data collected in 2017 and 2018

Ballard Spahr LLP on 7/22/2016

As we have reported, the Consumer Financial Protection Bureau (CFPB) released a final rule amending Regulation C, which implements the Home Mortgage Disclosure Act (HMDA), requiring “Covered Institutions” to report certain...more

Your daily dose of financial news - The Brief – 7.1.16

Robins Kaplan LLP on 7/1/2016

Yesterday, Hershey rejected Kraft spinoff Mondelez’s $23 billion takeover offer, but the dealmaking efforts may not be over. The success of any increased offer lies in the hands of the Hershey Trust Company, a charitable...more

Real Property, Financial Services & Title Insurance Update: Weeks Ending July 31 & August 7, 2015

Carlton Fields on 8/11/2015

Foreclosure: non-borrower owner of real property as tenants-in-common with borrower not required to sign mortgage for borrower to encumber only his interest in the property and non-borrower’s signature on mortgage reflected...more

Wells Fargo Ends Marketing Services Arrangements with Builders

Bilzin Sumberg on 8/11/2015

Concerned about “increasing uncertainty surrounding regulatory oversight of these types of arrangements,” Wells Fargo is ending all of its roughly 200 mortgage marketing services and desk rental agreements with builders and...more

Against the Tide: A New Take on RESPA’s Section 8(c)(2) Safe Harbor by the CFPB

K&L Gates LLP on 8/6/2015

Grab a flotation device – the final decision recently issued by Director Richard Cordray of the Consumer Financial Protection Bureau (“CFPB”) in the administrative enforcement proceedings against PHH Corp....more

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Mortgages › Department of Housing and Urban Development › Real Estate Market

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