California has enacted a new California Consumer Protection Law (CCFPL), California Financial Code Section 90001 et seq. The CCFPL will convert the Department of Business Oversight (DBO) into a new Department of Financial...more
9/11/2020
/ Bank Holding Company ,
Banks ,
California ,
Covered Person ,
Credit Unions ,
Debt Collection ,
Exemptions ,
Farm Credit Administration ,
FinTech ,
Governor Newsom ,
Savings and Loan Companies ,
Third-Party Agents ,
Trusts ,
UDAAP
On August 27, HUD announced that it is extending its Covid-related foreclosure and eviction moratoriums for FHA insured loans set to expire on August 31, until December 31, 2020, and issued a Mortgagee Letter implementing the...more
On June 8, the Federal Housing Finance Agency (FHFA) announced that it is extending the available date of certain Covid-19 related origination process flexibility modifications for Fannie Mae and Freddie Mac customers. These...more
On June 4, the Consumer Financial Protection Bureau (CFPB) took steps to provide rules and guidance for the upcoming transition away from LIBOR for adjustable rate loans. The CFPB issued the following:
A revised version...more
On April 16, the CFPB issued a HMDA final rule increasing the number of closed-end mortgage loans and/or open-end mortgage loans an institution must originate before it meets HMDA’s coverage thresholds. Effective July 1,...more
Having a well-drafted contract is one of the most important acts you can take to minimize your risks. As such, you should consider including in your next contract a limitation of liability for consequential and punitive...more
There Ought to be a Law: Consider This Alternative To Litigation -
Government is becoming more intrusive. At the state and federal levels, a host of agencies and departments continuously create new rules for us to live...more
8/19/2016
/ Attorney's Fees ,
Chapter 11 ,
Commercial Bankruptcy ,
Copyright Infringement ,
Employer Liability Issues ,
Good Faith ,
Independent Contractors ,
Kirtsaeng v. John Wiley & Sons ,
Lobbyists ,
Misclassification ,
Open Meetings Act ,
Rescission ,
SCOTUS ,
Statute of Limitations ,
Truth in Lending Act (TILA)
Before the United States Supreme Court opinion in Jesinoski v. Countrywide Home Loans, Inc. (2015) __ U.S. __, 135 S.Ct. 790, the law in the Ninth Circuit was that a borrower who sought to exercise a conditional right of...more
Whether a mortgage broker is acting as the agent of a borrower in negotiating a loan from a wholesale lender, or arranging a loan by bringing together a proposed borrower and lender, or acting as a lender and originating the...more
Historically low interest rates have led to the substantial growth in real estate lending, especially construction lending. Unfortunately, the lead article in the Business Section of the January 28, 2016, issue of the Los...more
I. Introduction -
It is difficult to imagine a substantial real estate transaction which does not have title insurance coverage and an escrow agent, although one can occur at times. Unfortunately, many of the beliefs...more
While the Great Recession appears to be slowly receding, rising oil costs and other price increases threaten to choke off what had appeared to be an economic recovery. Accordingly, foreclosures may become more frequent in the...more