A&B Abstract: Today, the Biden Administration announced an extension of the foreclosure moratorium for federally-backed mortgage loans (the “Presidential Announcement”). ...more
A&B ABstract: Maryland’s Governor has issued an Executive Order providing that until the COVID-19 state of emergency is terminated: (1) foreclosure sales will only be valid if the servicer had notified the borrower of their...more
A&B Abstract: On July 16, 2020, the U.S. House Committee on Financial Services’ (the “Committee”) Subcommittee on Oversight and Investigations (the “Subcommittee”) held a hearing to discuss mortgage servicers and their...more
A&B Abstract: On April 23, 2020, the attorneys general of 33 states, the District of Columbia and Puerto Rico (the “Attorneys General”) sent two letters, one to the Federal Housing Finance Agency (“FHFA”) and the other to the...more
A&B ABstract: On April 27, the FHFA provided clarification on the repayment of mortgage loan forbearance granted in response to the COVID-19 pandemic....more
A&B Abstract: On March 24, 2020, Delaware Governor, John Carney, issued a Sixth Modification (the “Order”) to the Declaration of a State of Emergency (the “State of Emergency”) initially issued on March 12, 2020. ...more
A&B Abstract: On April 20, 2020, Massachusetts Governor, Charlie Baker, signed into law HB 4647 (2020 Mass. Acts 65), an emergency measure, effective immediately, providing for mortgage forbearances and a moratorium on...more
A&B ABstract:
In response to COVID-19, on Friday March 28, 2020, President Trump signed into law the “Coronavirus Aid, Relief, and Economic Security Act” (the “CARES Act”). This is a monumental $2 trillion stimulus...more
3/31/2020
/ Banking Sector ,
Banks ,
CARES Act ,
Coronavirus/COVID-19 ,
Credit Reports ,
Eviction ,
Fair Credit Reporting Act (FCRA) ,
Financial Services Industry ,
Financial Stimulus ,
Forbearance Agreements ,
Foreclosure ,
Moratorium ,
Mortgage Lenders ,
Relief Measures
The Coronavirus Aid, Relief, and Economic Security (CARES) Act sprawls across 800 pages. Our Financial Services & Products Group delves into the sections that deal specifically with banking and lending....more
3/31/2020
/ Banking Sector ,
Banks ,
CARES Act ,
Coronavirus/COVID-19 ,
FDIC ,
Federal Loans ,
Financial Institutions ,
Financial Services Industry ,
Financial Stimulus ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
On March 19, New York Governor Mario Cuomo issued Executive Order No. 202.7, “Continuing Temporary Suspension and Modification of Laws Relating to the Disaster Emergency” (the “Order”)....more