News & Analysis as of September 26, 2024

Cybersecurity › Mortgage Lenders

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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +

Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now. less -

FHA issues reporting requirements on significant cybersecurity incidents

Orrick, Herrington & Sutcliffe LLP on 6/3/2024

On May 23, HUD issued Mortgagee Letter (ML) 2024-10 titled “Significant Cybersecurity Incident (Cyber Incident) Reporting Requirements” which required FHA-approved mortgagees to notify HUD when a “Cyber Incident” occurs. A...more

FHA Requiring Reporting of Significant Cybersecurity Incidents

Ballard Spahr LLP on 5/28/2024

In Mortgagee Letter 2024-10, FHA announced a requirement for FHA approved lenders to notify the U.S. Department of Housing and Urban Development (HUD) of Significant Cybersecurity Incidents. The Mortgagee Letter, which is...more

Reminder: FTC Safeguards Rule Notification Requirement Now In Effect

Sheppard Mullin Richter & Hampton LLP on 5/20/2024

On May 13, the FTC’s amendment to the Safeguards Rule relating to the reporting of data breaches and security incidents, which were announced in October of 2023, became effective. As a reminder, the FTC’s Safeguards Rule...more

PropTech Update - April 2022

Allen Matkins on 4/7/2022

U.S. construction tech firms brace for increased cyberattacks Construction Dive – March 30 Cybersecurity experts caution against something far more foundational than ransomware attacks or private data thefts when it comes to...more

NY Department of Financial Services Enforces First-in-the-Nation Cybersecurity Rules and Fines Mortgage Lender $1.5 Million for...

Blank Rome LLP on 4/12/2021

In March 2017, New York State’s Department of Financial Services (“DFS”) implemented the nation’s first cybersecurity rules requiring all regulated entities, such as banks, insurers, financial businesses, and regulated...more

Lessons Learned from New York’s Second Cybersecurity Action

BCLP on 3/31/2021

The New York Department of Financial Services (NYDFS) has announced its second regulatory enforcement action against a regulated entity (a New York licensed mortgage banker and loan servicer) for violating NYDFS’s...more

New York DFS Fines Mortgage Lender $1.5M for Failure to Report Cyber Breach

Hinshaw & Culbertson - Privacy, Cyber & AI... on 3/17/2021

The New York State Department of Financial Services (DFS) announced its second enforcement action and first settlement under its cybersecurity regulations (23 NYCRR Part 500). At issue was a licensed mortgage lender's failure...more

Real Property, Financial Services, & Title Insurance Update: Week Ending July 24 , 2020

Carlton Fields on 8/12/2020

Real Property Update - Condo Termination / Mandatory Arbitration: Unit owner could not pursue claims relating to condo termination for failure to comply with Florida Statutes section 718.117(16), which required unit...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 5/1/2017

We know that China’s Didi Chuxing is powerful enough to have driven Uber out of China altogether. So what happens when Didi sets its sights outside of Chinese borders? Flush with $5.5 billion in new funding, Didi is likely...more

NY Financial Services Companies’ 2017 Resolution: Cybersecurity

Foley & Lardner LLP on 12/3/2016

The New York State Department of Financial Services (DFS) made headlines back in late September with a “first-in-the-nation” piece of legislation aimed at mandating specific cybersecurity protocols for banks, insurance...more

Nutter Bank Report, September 2016

Nutter McClennen & Fish LLP on 9/30/2016

The Federal Reserve Board has released a policy statement that details the framework it will follow in setting the Countercyclical Capital Buffer (“CCB”) for private-sector credit exposures located in the United States. The...more

New York DFS Announces New Proposed Cybersecurity Regulations

Bracewell LLP on 9/28/2016

On September 13, 2016, the New York State Department of Financial Services (“DFS”) released proposed cybersecurity regulations for financial institutions.1 When the regulations become effective, they will make New York the...more

Advertising Law - September 2016 #2

Manatt, Phelps & Phillips, LLP on 9/15/2016

FTC Gives Academic Journals a Failing Grade - The Federal Trade Commission recently filed suit against the publisher of online academic journals that the agency accused of deceiving academics and researchers. OMICS...more

Your daily dose of financial news - The Brief – 9.8.16

Robins Kaplan LLP on 9/8/2016

In a move anticipated over the past year or so, Caliber Home Loans—with PE Lone Star Funds’ backing—is making more loans to “borrowers with spotty credit histories.” A euphemism for subprime, by the way. That targeting has...more

Key Takeaways from the Consumer Protection Forum

Holland & Knight LLP on 10/28/2015

Holland & Knight and the Word of Mouth Marketing Association (WOMMA) hosted a half-day forum that featured government officials discussing hot-button issues in consumer protection regulation and enforcement. Speakers at the...more

CFPB Information Security Remains a Challenge

Ballard Spahr LLP on 10/8/2015

The Office of the Inspector General (OIG) has released the “2015 list of major management challenges” faced by the CFPB that the OIG believes will hamper the CFPB’s ability to accomplish the CFPB’s strategic objectives. Like...more

Information Security: MBA Whitepaper

Robinson+Cole Data Privacy + Security Insider on 10/1/2015

Recently, the Mortgage Bankers Association released “The Basic Components of an Information Security Program,” for small and medium size companies in the mortgage industry that may not have the resources to stay well-informed...more

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Cybersecurity › Mortgage Lenders

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