Mortgages, Proposed Regulation

Notice of Proposed Rulemaking for Quality Control Standards for Automated Valuation Models (AVMs) Published

Goodwin on 7/3/2023

On June 21, 2023, the Office of the Comptroller of the Currency (OCC), Treasury, Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration...more

CFPB Proposed Regulatory Activity Agenda Released, Focuses on Limitations on Bank and Credit Card Fees, Small Business Lending...

Buchalter on 1/11/2023

The Office of Information and Regulatory Affairs in the Office of Management and Budget has released the Fall 2022 Unified Agenda of Regulatory and Deregulatory Actions (Agenda) reports on the actions administrative agencies...more

Weekly IRS Roundup November 7 – November 11, 2022

McDermott Will & Emery on 11/15/2022

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 7, 2022 – November 11, 2022....more

FINRA delays implementation of amendments to FINRA Rule 4210 to October 26, 2021

Eversheds Sutherland (US) LLP on 1/12/2021

The Financial Industry Regulatory Authority, Inc. (FINRA) filed a proposed rule change with the Securities and Exchange Commission (SEC) on December 22, 2020, to once more delay the implementation of amendments to FINRA Rule...more

The Conference of State Bank Supervisors Proposes Regulatory Prudential Standards for Nonbank Mortgage Servicers

Perkins Coie on 10/13/2020

The Conference of State Bank Supervisors (CSBS) recently requested public comment on proposed regulatory prudential standards for nonbank mortgage servicers. The proposal seeks to address concerns about rapid market share...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

The Department of the Treasury Issues Recommendations on the Regulation of U.S. Depository Institutions

Jones Day on 7/1/2017

"A Financial System that Creates Economic Opportunities: Banks and Credit Unions," a Report by the Department of the Treasury, identifies potential reforms that would promote the "Core Principles for Regulating the United...more

Maryland Issues Revised Proposed Rules for Servicing Transfers

Ballard Spahr LLP on 2/24/2017

The Maryland Commissioner of Financial Regulation recently issued a revised proposed regulation impacting servicing transfers. The Commissioner previously issued proposed regulations on this topic in January 2015. This...more

Financial Services Weekly News - September 2016 #2

Goodwin on 9/22/2016

Editor's Note - In this edition. The NYDFS proposed a cybersecurity regulation governing New York-chartered banks and insurance companies, the OCC released its bank supervision priorities in its annual supervision...more

Financial Services Weekly News - October 2015 #3

Goodwin on 10/22/2015

Regulatory Developments: FINRA Requests Comment on Rules Relating to Financial Exploitation of Vulnerable Adults - On Oct. 15 FINRA published Regulatory Notice 15-37, requesting comment on proposed amendments to...more

Financial Services Weekly News - October 2015 #2

Goodwin on 10/15/2015

Regulatory Developments: FINRA Proposes Rules for Funding Portals - On Oct. 9 FINRA filed with the SEC a proposed rule change to adopt Funding Portal Rules 100 (general standards), 110 (funding portal application),...more

FHFA Announces Minimum Capital and Liquidity Requirements for Non-Bank Servicers

Morrison & Foerster LLP on 2/18/2015

On January 30, 2015, the Federal Housing Finance Agency (FHFA) proposed new minimum financial eligibility requirements for non-bank sellers and servicers of mortgage loans to Fannie Mae and Freddie Mac (the GSEs). The...more

Corporate and Financial Weekly Digest - Volume X, Issue 3

Katten Muchin Rosenman LLP on 1/26/2015

In this issue: - SEC Chair Directs Staff to Review Commission Rule Excluding Conflicting Proxy Proposals - SEC Comments on FINRA's Proposed Rule Amendment to Increase Pricing Disclosure - CFTC Grants...more

The CFPB 2015 Forecast: Continued Cloudiness, Thunderstorms Likely

Morrison & Foerster LLP on 1/26/2015

This will be a busy year at the Consumer Financial Protection Bureau (CFPB), and that certainly means it will be a busy year for financial institutions as well. In addition to exercising its supervisory and enforcement...more

Proposed Data Reporting Rule Issued

Baker Donelson on 8/5/2014

If you are looking for some light reading these last few weeks of summer, you might want to take a look at the recently released proposed rule regarding changes to the Home Mortgage Disclosure Act (HMDA) also known as...more

Tax Talk -- Volume 7, No. 2 -- July 2014

Morrison & Foerster LLP on 7/30/2014

In This Issue: - As FATCA Begins, IRS Rolls out Withholding Forms, Increases IGA Count - IRS Issues Final Circular 230 Rules Simplifying Written Tax Advice Requirements - Mortgage CCA Raises More...more

CFPB expands HMDA reporting requirements

Ballard Spahr LLP on 7/28/2014

The CFPB issued a proposed rule amending Regulation C to expand data reporting requirements for mortgage industry participants. The proposed rule is 573 pages and our Mortgage Banking Group will analyze the proposal and work...more

CFPB Releases Rulemaking Agenda

Goodwin on 6/12/2014

The CFPB published its semi-annual update of its rulemaking agenda. The rulemaking agenda includes rulemaking actions in the pre-rule, proposed rule and final rule states, as well as long term actions and completed actions. ...more

CFPB confirms plans for auto finance larger participant rule in rulemaking agenda

Ballard Spahr LLP on 5/28/2014

In the latest semi-annual update of its rulemaking agenda, the CFPB officially confirmed that it plans to propose a rule to define “larger participants of a market for auto lending.” ...more

Proposed new rule under Dodd-Frank Act

Bilzin Sumberg on 8/6/2013

In 2011, in an effort designed to prevent a repeat of the often times shoddy underwriting practices that were pervasive during the years leading up to the current mortgage crisis, the Federal Deposit Insurance Corporation and...more

Financial Services Bulletin: Action at the FRB, CFPB and OCC

Perkins Coie on 7/26/2013

Agencies Propose Rule Exempting Certain Mortgages from Appraisal Requirements - On Wednesday, July 10, 2013, the Board of Governors of the Federal Reserve System (the “Fed”), Bureau of Consumer Financial Protection,...more

CFPB Proposes Modifying Mortgage Rules

Brownstein Hyatt Farber Schreck on 7/26/2013

CFPB Proposes Modifying Mortgage Rules - On June 24, 2013, the Consumer Financial Protection Bureau (CFPB) proposed seven separate “clarifications” and “narrow revisions” to certain mortgage rules it first issued in...more

Update: Condemnation of Underwater Mortgages Closer to Reality

Nossaman LLP on 7/24/2013

It's been a while since we focused on the whole condemnation of underwater mortgages scheme but that doesn't mean the idea has died off. To the contrary, apparently at least four California cities have now signed advisory...more

Orrick's Financial Industry Week in Review - June 10, 2013

Orrick, Herrington & Sutcliffe LLP on 6/11/2013

In This Issue: SEC Proposed Rule on Money Market Reforms; FDIC Final Rule on Orderly Liquidity Authority; FDIC Credit Risk Assessment Report; CFTC No-Action Relief; CFPB Exam Procedures for New Mortgage Rules; Rating Agency...more

CFPB Proposed Clarifications on Qualified Mortgage Rules

Orrick - Finance 20/20 on 4/29/2013

On April 19, the CFPB released proposed rule amendments to the ability to repay/qualified mortgage (QM) rules. The proposals address...more

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