News & Analysis as of

Fannie Mae Loan Servicer

McGlinchey Stafford

Federal Agencies Extend Moratoriums Through the End of 2020

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Two federal enterprises who purchase and securitize mortgages, Fannie Mae and Freddie Mac, along with three federal agencies who make, guarantee, and insure mortgage loans, the Department of Housing and Urban Development...more

McGlinchey Stafford

COVID Law Imposes Forbearance and Loss Mitigation Requirements

McGlinchey Stafford on

On June 17, 2020, Governor Andrew Cuomo signed S8428/A10530 and S8243-C/A10351-B into law. Collectively, in relevant part, the legislation creates N.Y. Banking Law § 9-x, which relates to residential forbearances as a result...more

McGlinchey Stafford

FHFA and HUD Announce Extension of Foreclosure Moratorium Again, Other Agencies Expected to Follow

McGlinchey Stafford on

Today, (June 17, 2020) the FHFA announced that Fannie Mae and Freddie Mac will extend their single-family moratorium on foreclosures and foreclosure related evictions until at least August 31, 2020. The current moratorium was...more

McGlinchey Stafford

The Federal Foreclosure Moratorium is Extended

McGlinchey Stafford on

Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, PL 116-136, enacted March 27, 2020, a federally backed mortgage loan was subject to a foreclosure moratorium from March 18, 2020, through May 17, 2020....more

Bradley Arant Boult Cummings LLP

GSEs Prepare for Losing LIBOR

With new guidance and model documents issued by Fannie Mae and Freddie Mac, the mortgage industry is several steps closer to operating without LIBOR. The industry has been grappling with the eventual demise of LIBOR since...more

McGuireWoods LLP

Freddie Mac and Fannie Mae Not Considered Government Agents Under the FCA

McGuireWoods LLP on

In United States ex rel. Adams v. Aurora Loan Servs., Inc., 2016 WL 697771, — F.3d —- (9th Cir. Feb. 22, 2016), the Ninth Circuit found that Fannie Mae and Freddie Mac were not government entities for purposes of the False...more

Burr & Forman

Admissibility of Prior Servicer Business Records

Burr & Forman on

In Sas v. Federal National Mortgage Ass’n., No. 2D14-1003, 2015 WL 3609508 (Fla. 2d DCA June 10, 2015) the appellate court was faced with the issue of whether there was a requirement that the records custodian of the current...more

Ballard Spahr LLP

Federal Preemption Does Not Preclude State Law Claim Based on Alleged HAMP Violations, Minnesota Supreme Court Holds

Ballard Spahr LLP on

The Supreme Court of Minnesota last week reversed the dismissal of a borrower’s action against a loan servicer arising out of the servicer’s alleged breach of its Servicer Participation Agreement (SPA) with Fannie Mae under...more

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