News & Analysis as of September 24, 2024

Small Business Administration › Mortgages

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The Small Business Administration is a United States federal agency established in 1953 by the Small Business Act. The SBA is dedicated to assisting and supporting small business and entreprenuers. The SBA carries out its mission through a variety of programs including providing financial and federal contract procurement assistance, management assistance, and specialized outreach to women, minorities and armed forces veterans. less -

FHFA Eliminates Adverse Market Refinance Fee

Goodwin on 7/30/2021

In This Issue. The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac will no longer charge lenders the Adverse Market Refinance Fee; the Federal Deposit Insurance Corporation (FDIC) is seeking...more

Nutter Bank Report: April 2021

Nutter McClennen & Fish LLP on 4/29/2021

CFPB Takes Steps to Avoid a Possible Wave of Home Mortgage Loan Foreclosures - The CFPB has issued guidance to mortgage servicers, including banks that service mortgage loans for third-party noteholders, that the CFPB...more

The $28.6 Billion Restaurant Revitalization Fund – Help for the Hard Hit Restaurant Industry

Arnall Golden Gregory LLP on 3/17/2021

On March 11, 2021, President Biden signed the American Rescue Plan of 2021. This legislation includes a Restaurant Revitalization Fund (“RRF”) for which Congress has allocated $28.6 billion in program grants for eligible...more

Real Estate Relief in the American Rescue Plan Act of 2021

Holland & Knight LLP on 3/16/2021

On March 11, 2021, President Joe Biden signed H.R. 1319, the American Rescue Plan Act of 2021, into law. The $1.9 trillion COVID-19 relief bill, which passed in the U.S. Senate by a narrow 50-49 vote on March 6 and in the...more

SEC Releases 2021 Examination Priorities

Goodwin on 3/8/2021

In this Issue. The U.S. Securities and Exchange Commission (SEC) Division of Examinations released its 2021 Examination Priorities and issued a risk alert noting that “Digital Asset Securities” entail characteristics and...more

CFPB To Revisit Trump-Era QM Final Rules

Goodwin on 2/26/2021

In this Issue. The Consumer Financial Protection Bureau (CFPB) issued a statement announcing its intention to revisit Trump-era qualified mortgage (QM) final rules; the Biden Administration announced changes to the Small...more

All Consuming - Financial Litigation Insights: Issue 8, October 2020

Spilman Thomas & Battle, PLLC on 10/23/2020

Servicemembers’ Civil Relief Act - What You Need to Know - Between the Civil War and 1940, the United States periodically had legislation that prevented lawsuits against soldiers and sailors during times of conflict. Then,...more

New PPP Guidance On Owner-Employees And Rent/Mortgage Interest Forgiveness

Husch Blackwell LLP on 8/31/2020

On August 24, 2020, the Small Business Administration (SBA) released a new interim final rule (IFR) regarding permitted forgiveness of loans made under the Paycheck Protection Program (PPP). This new guidance provides relief...more

You Have Questions…SBA Releases PPP Loan Forgiveness FAQs

White and Williams LLP on 8/19/2020

The U.S. Small Business Administration (SBA), in consultation with the U.S. Department of the Treasury (Treasury), recently released a series of Frequently Asked Questions (the Forgiveness FAQs) focusing on forgiveness of...more

Financial Services Weekly Roundup: Code Libor – SEC And OCIE Issue Risk Alert In Preparation Of Libor Discontinuation

Goodwin on 6/26/2020

In This Issue. The Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert about the scope and content of examinations OCIE plans to conduct of various...more

Financial Services Weekly Roundup: OCC Finalizes New CRA Rule; Regulators Continue To Provide COVID-19-related Relief

Goodwin on 5/21/2020

In This Issue. The Office of the Comptroller of the Currency (OCC) finalized a rule to strengthen and modernize regulations under the Community Reinvestment Act; the Securities and Exchange Commission (SEC) voted to adopt...more

Top 10 Insights from the SBA’s PPP Loan Forgiveness Application

Foley & Lardner LLP on 5/19/2020

On May 15, 2020, the SBA issued its Paycheck Protection Program (PPP) Loan Forgiveness Application. 1. Permits Use of Alternative Payroll Covered Period - While the term of the “Covered Period” for loan forgiveness...more

Financial Services Weekly Roundup: May Introduces Additions And Expansions To Covid-19-related Policies

Goodwin on 5/7/2020

In This Issue. The Board of Governors of the Federal Reserve System (Federal Reserve) expanded access to its Paycheck Protection Program Liquidity Facility (PPPLF) to non-bank lenders and expanded the collateral eligible to...more

Coronavirus: The Hill and the Headlines – COVID-19 D.C. Update May 2020

Hogan Lovells on 5/5/2020

In Washington: COVID-19 cases may not peak in the D.C. region until mid- or even late May. The Senate is back in session, but it may be a while before the House returns as leaders have not reached a bipartisan agreement on...more

The RESPONSE: Federal and State Actions Affecting the Financial Services Industry - Edition 15

Holland & Knight LLP on 5/4/2020

Like our clients, Holland & Knight's Financial Services Industry Group is committed to actively contributing to our nation's response to the coronavirus (COVID-19) pandemic and related economic fallout and recovery efforts. ...more

A Six Foot Look at the Business, Loan, and Tax Reform Legislation In Response to COVID-19

Steptoe & Johnson PLLC on 4/3/2020

LOAN ASSISTANCE PROVISIONS - Express Bridge Loan Pilot Program: Unilateral pronouncement of the SBA- • While not part of the CARES legislation, the SBA announced as a response to COVID19, small businesses that...more

The CARES Act: What Banks Need to Know

Goodwin on 4/2/2020

Recognizing the critical role that banks and other financial institutions play in providing capital and liquidity to American businesses and consumers, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the...more

CARES Act: Overview of Major Provisions Impacting Businesses and Individuals

Ballard Spahr LLP on 4/1/2020

On Friday, March 27, 2020, Congress passed and the President signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a $2.2 trillion economic stimulus package that will make hundreds of billions of dollars...more

On Pause – Real Property: Navigating Limitations on Evictions and Foreclosures

Womble Bond Dickinson on 3/30/2020

Across the country, the federal government along with state and local governments and courts are taking measures to limit evictions and foreclosures. Financial institutions, servicers, and landlords facing anticipated...more

Sixth Circuit Offers Perspective on Federal Removal and Wrongful Foreclosure in Mortgage Litigation

Butler Snow LLP on 8/23/2018

In Beasley v. Wells Fargo Bank, N.A., 2018 WL 3478882 (6th Cir. July 19, 2018), the United States Court of Appeals for the Sixth Circuit provided clarification on certain aspects of removing a case from state court to federal...more

California’s One-Action Rule May Apply to Federal Lenders

Snell & Wilmer on 6/6/2016

California’s one-action rule provides that “[t]here can be but one form of action for the recovery of any debt or the enforcement of any right secured by mortgage upon real property or an estate for years therein . . . .”...more

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Small Business Administration › Mortgages

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