Millions of homeowners have signed up for a forbearance under the CARES Act, which gives homeowners with a federally-backed mortgage loan the right to obtain a temporary reduction or suspension of mortgage payments by way of...more
10/12/2021
/ CARES Act ,
Coronavirus/COVID-19 ,
Failure To Disclose ,
Fair Lending ,
Fannie Mae ,
Forbearance Agreements ,
Foreclosure ,
Homeowners ,
Infectious Diseases ,
Mortgages ,
PNC ,
Putative Class Actions ,
Relief Measures ,
RESPA ,
Statutory Violations ,
Truth in Lending Act (TILA) ,
Unfair or Deceptive Trade Practices
On September 4, the Centers for Disease Control (CDC) imposed a moratorium on residential foreclosures and evictions through the end of this year. The move quickly followed comments by the Trump administration that it would...more
9/23/2020
/ CARES Act ,
Centers for Disease Control and Prevention (CDC) ,
Coronavirus/COVID-19 ,
Eviction ,
Fannie Mae ,
Federal Housing Administration (FHA) ,
Financial Distress ,
Foreclosure ,
Freddie Mac ,
HUD ,
Infectious Diseases ,
Landlords ,
Moratorium ,
Mortgages ,
Public Health ,
Relief Measures ,
Rent ,
Rental Property ,
Tenants
Governor DeSantis previously issued Executive Order 20-94 on April 2, 2020, suspending and tolling any statute providing for a mortgage foreclosure or residential eviction due to non-payment of rent that, after several...more
8/5/2020
/ Coronavirus/COVID-19 ,
Eviction ,
Executive Orders ,
Financial Distress ,
Florida ,
Foreclosure ,
Governor DeSantis ,
Landlords ,
Moratorium ,
Mortgages ,
Relief Measures ,
Rent ,
Rental Property ,
State and Local Government ,
Tenants
A recent decision by the United States Court of Appeals for the Eighth Circuit offers some vindication for mortgage companies still facing “repurchase” demands made by the banks to which they sold residential mortgages in the...more
11/19/2019
/ Appeals ,
Consumer Financial Products ,
Financial Crisis ,
Financial Services Industry ,
Foreclosure ,
Loans ,
Mortgage Lenders ,
Mortgage Loan Originators ,
Mortgages ,
Repurchases ,
Summary Judgment
Many big cities in the United States responded to the fallout from the 2008 financial crisis by passing local laws which pressure banks to invest more in low-income neighborhoods. Between 2010 and 2013, cities such as New...more
9/28/2015
/ Affordable Housing ,
Bank of America ,
Banking Sector ,
Banks ,
Citibank ,
Community Reinvestment Act ,
CRA ,
Data Collection ,
Financial Institutions ,
Financial Regulatory Reform ,
Foreclosure ,
JPMorgan Chase ,
Mortgages ,
Residential Real Estate Market
With the mortgage crisis almost a decade in the rear-view mirror, some harmed homeowners are just now starting to see reparations for the transgressions of the country’s largest financial institutions.
...more
7/17/2014
/ Bank of America ,
Banks ,
Citigroup ,
Foreclosure ,
Goldman Sachs ,
JPMorgan Chase ,
Morgan Stanley ,
Mortgages ,
OCC ,
Robo-Signing ,
Settlement ,
Wall Street ,
Wells Fargo
“Robo-signing,” the term coined to refer to bank officials who quickly approved mortgage foreclosure documents without actual knowledge of the validity of the grounds for foreclosure, has been spurring lawsuits and making...more
We have long been skeptical of most loan “repurchase” or “indemnification” demands made by big banks against the third-party originators (i.e., correspondent lenders) who sold those loans to the big banks many years ago....more
1/10/2013
/ Aurora ,
Bank of America ,
Chase Bank ,
Citibank ,
Countrywide ,
Foreclosure ,
Mortgages ,
Settlement ,
SunTrust ,
US Bank ,
Wells Fargo ,
Wrongful Foreclosures