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Mortgages › Mortgage Lenders

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 -
Alston & Bird

Consumer Finance State Roundup

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The latest edition of the Consumer Finance State Roundup highlights recently enacted measures of potential interest from four states: Delaware:  Effective August 9, Senate Bill 245 amends mortgage foreclosure provisions of...more

Katten Muchin Rosenman LLP

Basel III Endgame: Will Banks Have to Increase Their Capital Requirements?

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On Tuesday, September 10, the Federal Reserve announced a reproposal of the much discussed and awaited Basel III Endgame. However, before we dive into the reproposal, it is important to take a step back and look at how we got...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 45: Challenges and Opportunities in Banking Today: An Economist’s Perspective

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NYU economics professor Larry White joins RegFi co-hosts Jerry Buckley and Caroline Stapleton to discuss a range of current issues facing the financial services industry. Professor White provides data on the significant...more

Orrick, Herrington & Sutcliffe LLP

FHFA releases NPRM on housing goals for 2025-2027

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On August 22, FHFA released a proposed rule on its housing goals for Fannie Mae and Freddie Mac (the GSEs) for 2025-2027 as required by the Federal Housing Enterprises Financial Safety and Soundness Act of 1992. FHFA is...more

Orrick, Herrington & Sutcliffe LLP

CFPB orders mortgage servicer to pay after violating 2017 order

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On August 21, the CFPB announced an administrative proceeding against a residential mortgage servicer (the respondent) for allegedly taking foreclosure actions against borrowers and preventing borrowers from leveraging...more

Mayer Brown

MSR Deal Points Q&A

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In this episode of Financial Services Focus, Eric Edwardson, Lauren Pryor and Chris Smith discuss selected key terms of purchase and sale agreements for residential mortgage servicing rights, exploring the typical...more

Troutman Pepper

CFPB Orders Mortgage Lender to Pay $2.25 Million for Allegedly Deceiving Servicemembers and Veterans

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Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) announced it had entered into a consent order with NewDay USA, a Florida-based non-bank direct mortgage lender, over allegations that the lender misled...more

Cadwalader, Wickersham & Taft LLP

Fool Me Once, Shame on You; Fool Me Twice, Shame on Me: Res Judicata and Ownership Claims Post Foreclosure

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The Supreme Court of the State of New York, County of Westchester, recently held that the doctrine of res judicata bars a lender’s claim that a borrower’s subsequent transfers of property are void, if the claim is brought...more

GeoDataVision

Is Fair Lending Enforcement Fair Today? Part II

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Previously, I have written about regulatory enforcement of anti-redlining regulations. I pointed out the problems and potentially misleading statistical conclusions caused by the application of what is called a “REMA” or...more

Blake, Cassels & Graydon LLP

Projet de loi 29 de la Colombie-Britannique : Répercussions de la Mortgage Services Act auprès des prêteurs hypothécaires

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Le projet de loi 29 de la Colombie-Britannique (le « projet de loi ») abroge la loi intitulée Mortgage Brokers Act de cette province et la remplace par une nouvelle loi, soit la Mortgage Services Act (la « Loi »), laquelle...more

Sheppard Mullin Richter & Hampton LLP

CFPB Announces Advisory Opinion on Applicability of TILA and Regulation Z To Contracts for Deed

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On August 13, the CFPB announced an advisory opinion on the applicability of the Truth in Lending Act (TILA) and Regulation Z to “contracts for deed.” A contract for deed is an arrangement in which a consumer purchases a home...more

Venable LLP

CFPB Proposes Revamping Mortgage Servicing Rules

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The CFPB released its much-anticipated proposed update to the mortgage servicing rules last month that would make permanent many of the temporary servicing rules enacted in response to the COVID-19 pandemic. ...more

Cadwalader, Wickersham & Taft LLP

Beware of the Law of Unintended Consequences

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A recent study, Government Litigation Risk and the Decline in Low-Income Mortgage Lending, provides further evidence that the law of unintended consequences reigns supreme, particularly in the realm of public policy. The...more

Blake, Cassels & Graydon LLP

B.C. Mortgage Services Act: Bill 29’s Impact on Mortgage Lenders

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British Columbia’s Bill 29 repeals the Mortgage Brokers Act and replaces it with the Mortgage Services Act (MSA). The MSA establishes a licensing and regulatory regime for mortgage brokerages, principal brokers and mortgage...more

Ballard Spahr LLP

HUD, Fannie Mae and Freddie Mac Delay Implementation of Reconsideration of Value Guidance

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As previously reported, the U.S. Department of Housing and Urban Development (HUD) in connection with single-family residential mortgage loans insured by the Federal Housing Administration (FHA), and Fannie Mae and Freddie...more

McGlinchey Stafford

CFPB Proposes New Rules Aimed at “Streamlining” Mortgage Servicing

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On July 10, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) proposed a rule it says will streamline mortgage servicing and the loss mitigation process. If enacted, the proposed rule would significantly revise...more

Orrick, Herrington & Sutcliffe LLP

HUD charges appraiser for alleged racial discrimination

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On July 15, HUD released a charge of discrimination on behalf of a complainant against several respondents, including a mortgage lender and its agent (an appraisal management company), for allegedly discriminating against the...more

Hudson Cook, LLP

CFPB Bites of the Month - July 2024

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In this month's article, we share some of our top "bites" for the prior and current month covered during the July 2024 webinar....more

GeoDataVision

How to Minimize Compliance Risk in the Radical New “Modern” Redlining Era

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As any bank professional regulatory compliance professional knows redlining is the hottest issue today and has been since Attorney General Merrick Garland announced the “Combatting Redlining Initiative” in October 2021. Since...more

Holland & Knight LLP

Little-Known Chicago Rental Ordinance Amendment Impacts Unsuspecting Foreclosing Lenders

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A foreclosing lender must offer existing Chicago tenants a new 12-month lease or pay them a substantial $10,600 relocation fee – and the tenant can decide which one to choose. This 2021 amendment to the Keep Chicago Renting...more

Whitman Legal Solutions, LLC

HUD Files Appraisal Discrimination Charge Against Rocket Mortgage

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The Fair Housing Act Applies to Residential Real Estate Appraisals - The Fair Housing Act (FHA) was passed in 1968 to prohibit housing discrimination based on race, color, religion, and national origin. Since then, the...more

Alston & Bird

CFPB Releases Long-Awaited Proposal to Amend Regulation X Loss Mitigation Rules

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What Happened? On July 10, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) proposed a rule to amend provisions of its Mortgage Servicing Rules to significantly revamp requirements relating to borrowers...more

McGlinchey Stafford

New York Court Finds Mortgage Loan Made to Corporate Entity is “Consumer Credit Transaction” Under Truth in Lending Act

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On July 8, 2024, the United States District Court for the Eastern District of New York held that a mortgage loan from a private lender was within the scope of the Truth in Lending Act (TILA) and Home Ownership and Equity...more

Troutman Pepper

Highlights from the CFPB’s Spring 2024 Semi-Annual Regulatory Agenda

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The Consumer Financial Protection Bureau (CFPB or Bureau) recently released its semi-annual regulatory agenda, outlining its planned rulemaking initiatives. The CFPB releases regulatory agendas twice a year in voluntary...more

Saul Ewing LLP

CFPB v. Townstone Financial - 7th Circuit Expands Equal Credit Opportunity Act Claims to “Potential Applicants” in Redlining...

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On July 11, 2024, the U.S. Court of Appeals for the 7th Circuit held in Bureau of Consumer Financial Protection v. Townstone Financial, Inc., that the Equal Credit Opportunity Act (“ECOA”) prohibits discriminatory conduct,...more

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