On September 12, 2024, the Consumer Financial Protection Bureau (CFPB) filed a stipulated proposed order in its suit against the student loan servicer Navient, formerly known as Sallie Mae. If entered, the order will resolve...more
The Mississippi Supreme Court recently rejected federal preemption arguments relating to federally owned student loans. This follows other preemption rulings, as we’ve discussed here and here.
Mississippi’s attorney...more
The CARES Act provided historic, temporary relief to mortgage holders facing Covid-19-related financial troubles. R. Aaron Chastain, partner at Bradley Arant Boult Cummings LLP, looks at where mortgage lenders and servicers...more
11/10/2020
/ Borrowers ,
Business Ownership ,
CARES Act ,
Coronavirus/COVID-19 ,
Financial Distress ,
Financial Services Industry ,
Forbearance Agreements ,
GSE ,
Homeowners ,
Mortgage Servicers ,
Mortgages ,
Relief Measures
On June 30, 2020, Oregon joined D.C., Massachusetts, and New York in passing state-specific COVID-19 mortgage assistance programs into law. This new law further confuses the patchwork quilt of compliance issues for mortgage...more
On June 17, New York Gov. Andrew Cuomo signed one of the most far-reaching COVID-19 mortgage assistance state programs yet into law. Affected servicers and lenders will soon need to decide whether they should find a way to...more
6/23/2020
/ Compliance ,
Constitutional Challenges ,
Contracts Clause ,
Coronavirus/COVID-19 ,
Forbearance Agreements ,
Governor Cuomo ,
Loan Modifications ,
Loss Mitigation ,
Mortgage Lenders ,
Mortgage Servicers ,
Relief Measures
Like the country and economy at large, the COVID-19 pandemic is significantly impacting secondary education and the student lending industry. In response to the pandemic, colleges across the country closed their campuses,...more