News & Analysis as of

Risk Management Mortgage Servicers

Alston & Bird

New York DFS to Impose Climate Change Safety and Soundness Expectations on Mortgage Lenders, Servicers, and other Regulated...

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What Happened? On December 21, 2023, the New York Department of Financial Services (“NYDFS”) published an 18-page guidance document (the “Guidance”) on managing material, financial and operational risks due to climate...more

Jackson Lewis P.C.

NYSDFS Fines Lender and Mortgage Servicer $4.25M for Cybersecurity Failures Including Vendor Management

Jackson Lewis P.C. on

Yesterday, New York’s Department of Financial Services (“DFS”) announced another enforcement action under the state’s Cybersecurity Requirements for Financial Services Companies, 23 N.Y.C.R.R. Part 500 (“Reg 500”). According...more

Orrick, Herrington & Sutcliffe LLP

FHFA issues model risk management guidance

On December 21, FHFA issued guidance to Freddie Mac, Fannie Mae, the Federal Home Loan Banks (FHLBanks), and the Office of Finance on its model risk management framework. ...more

Nutter McClennen & Fish LLP

Nutter Bank Report: April 2022

FDIC Directs Banks to Provide Notice Before Engaging in Crypto-related Activities According to guidance recently issued by the FDIC, banks that it supervises and that intend to engage in, or are already engaged in, activities...more

Alston & Bird

CSBS Proposes Prudential Standards for Servicers

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A&B Abstract: The Conference of State Bank Supervisors (“CSBS”) proposed regulatory prudential standards (the “Standards”) to develop a consistent regulatory structure of nonbank mortgage servicers. Comments on all aspects...more

BCLP

COVID-19: The New Frontier for Mortgage Lenders and Servicers in the U.S.

BCLP on

The coronavirus (COVID-19) outbreak is causing widespread public concern and economic impacts for individuals and businesses across the globe. Most mortgage lenders and servicers already have business continuity plans in...more

Burr & Forman

Trust No One - Lunchtime Deals Should End in Intention, Not Retention

Burr & Forman on

What You Can Learn about Vendor Management from the DocuSign Breach While some industries may get away with the “trust but verify” model, heavily regulated industries such as financial services have no such luxury. Trust...more

Ballard Spahr LLP

DocuSign Breach a Strong Reminder for the Mortgage Industry to Manage Third-Party Service Provider Risks

Ballard Spahr LLP on

On May 16, DocuSign confirmed that a data breach resulted in widespread malware phishing attacks targeting its customers. DocuSign provides electronic signature solutions for many companies in the mortgage banking industry...more

Goodwin

Financial Services Weekly News - November 2016 #3

Goodwin on

Editor's Note - A Possible Blueprint for Financial Regulatory Reform in the Trump Administration. During his campaign, President-elect Trump consistently emphasized that financial regulatory reform is a critical...more

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