Mortgages, Lenders, Fannie Mae

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

Troutman Pepper on 5/3/2024

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

FHFA Announces 2024 Conforming Mortgage Loan Limits

Ballard Spahr LLP on 11/29/2023

The Federal Housing Finance Agency (FHFA) recently announced the conforming loan limits for residential mortgage loans acquired by Fannie Mae and Freddie Mac in 2024. Fannie Mae addresses the limits in Lender Letter 2023-09....more

FHFA delays effective date of DTI ratio-based fee

Orrick, Herrington & Sutcliffe LLP on 3/27/2023

On March 15, FHFA delayed the implementation of a new debt-to-income ratio-based fee to August 1, in order to ensure lenders have sufficient time to prepare. In January, FHFA made several changes relating to upfront fees for...more

Appraisal Values and Lender Liability: Art, Science, or Gamble?

Alston & Bird on 3/17/2022

As part of the Biden Administration’s stated focus on narrowing the racial gap in wealth and homeownership, federal agencies launched an Interagency Task Force on Property Appraisal and Valuation Equity (PAVE), with the goal...more

FHFA Eliminates Adverse Market Refinance Fee

Goodwin on 7/30/2021

In This Issue. The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac will no longer charge lenders the Adverse Market Refinance Fee; the Federal Deposit Insurance Corporation (FDIC) is seeking...more

Certain Foreclosure Moratoria Set to Lift on July 31

Perkins Coie on 7/29/2021

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

Supreme Court Decision Empowers President Biden to Replace Director of FHFA

Goodwin on 6/25/2021

In This Issue. In a move that gives him the opportunity to put his stamp on housing policy and the potential overhaul of Fannie Mae and Freddie Mac, President Biden replaced the Director of the Federal Housing Finance Agency...more

COVID, Year Two: A Look at Mortgage Relief, Regulatory Scrutiny, and the Road Ahead

Davis Wright Tremaine LLP on 3/17/2021

March 13, 2021, marked the one-year anniversary of President Trump's declaring COVID-19 a national emergency. Through the CARES Act, agency action and guidance, and various state laws and executive orders, governments across...more

ISS Publishes 2021 Proxy Voting Guidelines

Goodwin on 11/19/2020

In the News. Institutional Shareholder Services (ISS) published its proxy voting guidelines updates for 2021, which include new and updated voting recommendations on federal forum and exclusive forum provisions in companies’...more

Fannie Mae and Freddie Mac Extend Origination Flexibilities Due to COVID-19 (UPDATED)

Ballard Spahr LLP on 10/26/2020

On October 19, 2020, Fannie Mae in updates to Lender Letter 2020-03 and Lender Letter 2020-04, as well as Freddie Mac in Bulletin 2020-40, extended certain loan origination flexibilities due to COVID-19 from October 31, 2020,...more

Fannie Mae and Freddie Mac Update COVID-19 and Payment Deferral Servicing Guidance

Ballard Spahr LLP on 10/23/2020

On October 14, 2020, Fannie Mae issued updates to Lender Letter 2020-02, Lender Letter 2020-05, and Lender Letter 2020-07, and Freddie Mac issued Bulletin 2020-39, regarding COVID-19 and payment deferral servicing guidance....more

CFPB, FTC And 50 States Show Power In Numbers With Operation Corrupt Collector

Goodwin on 10/2/2020

In the News. The Consumer Financial Protection Bureau (CFPB), along with the Federal Trade Commission (FTC) and more than 50 federal and state law enforcement partners, announced Operation Corrupt Collector, a nationwide law...more

Fannie Mae and Freddie Mac announce adverse market LLPA

Ballard Spahr LLP on 8/20/2020

On August 12, 2020, Fannie Mae and Freddie Mac announced that the cost to originate and to deliver single family limited cash out refinances and cash out refinance mortgage loans would increase by one half of one percent...more

A Recap of Federal Loan Program Developments Affecting Commercial Real Estate

Seyfarth Shaw LLP on 3/27/2020

This week saw a plethora of activity to support federally related loan programs affecting commercial real estate. Below is a summary of the applicable guidance, announcements and proposed laws....more

Commercial Mortgage Loans and CMBS: Developments in the European Market – Chapter 1

K&L Gates LLP on 12/9/2016

Commercial real estate (CRE) is a tremendously important asset, as the content of this book will discuss. However, the CRE lending and commercial mortgage-backed securities (CMBS) markets are, at the time of writing, largely...more

SCOTUS Holding Could Exacerbate Already-Backlogged Federal Dockets

Goodwin on 11/22/2016

On November 8, 2011, the U.S. Supreme Court heard oral arguments in Lightfoot v. Cendant Mortg. Corp., a case that will decide an important jurisdictional issue for Federal National Mortgage Association (FNMA). See 769 F.3d...more

Deed of Trust Provisions Allowing Lenders/Servicers to Enter, Maintain, and Secure Encumbered Properties May be Unenforceable...

Orrick, Herrington & Sutcliffe LLP on 7/22/2016

On July 7, 2016, the Supreme Court of the State of Washington issued its opinion in Jordan v. Nationstar Mortgage, LLC, which, prior to foreclosure, may prevent servicers from securing property after a default or, at least,...more

Dodd-Frank News: November 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

Burr & Forman on 11/3/2015

The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

Transitional period and initial supervisory practice over TRID

Ballard Spahr LLP on 10/23/2015

The CFPB sent industry trade groups a letter on October 1, 2015 to address the approach of the Federal Financial Institutions Examination Council (FFIEC) member agencies during the initial months following the implementation...more

Money, Dirt & Steel: 2014-2015 NC Real Property Litigation Update

Williams Mullen on 2/4/2015

A snapshot of noteworthy cases from the past year related to lending practices, property rights and construction in North Carolina. Money - Lending: Comprehensive waiver language in loan workout...more

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

Ballard Spahr LLP on 6/20/2014

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

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