The CFPB has issued a proposed rule clarifying and making technical amendments to the 2013 Escrows Final Rule issued by the Bureau in January 2013. This is the first of the CFPB’s planned issuances to clarify and provide...more
In This Presentation:
Contamination; Environmental Issues; Defective or Incomplete Land Use Approval; “As Is,” “Your Problem Not Mine” Seller; Encroachment; URM or Otherwise Seismically Challenged Property; Use,...more
On January 10, 2013, the Consumer Financial Protection Bureau issued its final rule on escrow account requirements for first-lien higher-priced mortgage loans. The rule amends existing escrow requirements and exemptions for...more
The Consumer Financial Protection Bureau (“CFPB”) has issued a final rule implementing the “ability to repay” mortgage requirements of the Dodd-Frank Act. The rule requires creditors to make a reasonable, good faith...more
A lender’s entitlement to a make-whole premium, that is, a prepayment penalty designed to compensate the lender for the loss of interest payments it would have received had the borrower continued to service the debt through...more
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