News & Analysis as of

Office of the Comptroller of the Currency Loan Modifications

Butler Snow LLP

FFIEC Issues New Guidance on Loan Accommodations Related to COVID-19

Butler Snow LLP on

At the onset of the pandemic, many financial institutions offered credit accommodations, such as short-term deferrals and other loan modifications, to borrowers in response to the significant adverse impact caused by...more

Akerman LLP

Regulatory Guidance for Banks, Lenders, and Licensed Mortgage Originators Regarding Coronavirus (UPDATED)

Akerman LLP on

(New information added on April 17, 2020) - As the coronavirus crisis unfolds, federal and state financial services regulatory agencies have taken multiple actions impacting banks, non-bank financial service providers, and...more

Snell & Wilmer

Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by COVID-19

Snell & Wilmer on

On March 22, an interagency statement was issued by the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of...more

Alston & Bird

Regulators Further Clarify Guidance Regarding Loan Modifications and Reporting

Alston & Bird on

Our Financial Services & Products Group examines how federal regulators – speaking with a single voice – will view loan modifications during the coronavirus pandemic....more

Amundsen Davis LLC

Feds Issue Guidance To Financial Institutions Working With Customers Affected By COVID-19

Amundsen Davis LLC on

As the Coronavirus Disease 2019 (COVID-19) continues to impact our nation, financial institutions are finding themselves in a situation wherein their customers are unable to, or are at risk of being unable to, make timely...more

Seyfarth Shaw LLP

Federal Agencies Issue Guidance on Loan Modifications Relating to COVID-19

Seyfarth Shaw LLP on

On March 22, 2020, in response to the growing anticipation for loan modifications necessitated by the implications of the Coronavirus Disease 2019 (“COVID-19”), the Federal Reserve, Federal Deposit Insurance Corporation,...more

Kramer Levin Naftalis & Frankel LLP

COVID-19 Update: Bank Regulators, Including the FDIC, Urge Financial Institutions To Collaborate With Pandemic-Affected Customers,...

On March 22, federal banking regulators, including the board of governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration, the Office of the...more

Goodwin

OCC Imposes $70 Million Fine Against National Bank for Allegedly Violating Mortgage Servicing Consent Order

Goodwin on

On May 25, the Office of the Comptroller of Currency (OCC) entered a consent order with a national bank stemming from allegations that the bank violated a 2011 consent order concerning its mortgage servicing related...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review - March 4, 2013

In This Issue: *Financial Industry Developments - Amendments to Fed and OCC Foreclosure Consent Orders - Fed Proposed Rule on Systemically Important Financial Market Utilities - Rating Agency...more

Orrick - Finance 20/20

Independent Foreclosure Review Settlement

Orrick - Finance 20/20 on

On January 7, the OCC and the Fed announced a settlement with 10 mortgage servicing companies which includes cash payments to eligible borrowers and other assistance, such as loan modifications and forgiveness of deficiency...more

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