News & Analysis as of September 26, 2024

Foreclosure › Paycheck Protection Program (PPP)

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Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -

Promissory Notes - Banking & Finance Insights, Volume 2, Issue 9

Spilman Thomas & Battle, PLLC on 10/5/2022

Is SAFE Banking Act Getting Closer to Passage? Senators Agree Public Safety Issues are at Play "Sen. Jeff Merkley (D-OR), the sponsor of the SAFE Banking Act, talked about violent crime targeting marijuana businesses and...more

Promissory Notes - Banking & Finance Insights, Issue 6

Spilman Thomas & Battle, PLLC on 8/4/2021

Welcome to our sixth issue of Promissory Notes -- our e-newsletter focused on banking and finance insights. SBA to Drop Its Review of PPP Loans of $2 Million and Above - "The effort marks an about-face for the agency...more

Nutter Bank Report: April 2021

Nutter McClennen & Fish LLP on 4/29/2021

CFPB Takes Steps to Avoid a Possible Wave of Home Mortgage Loan Foreclosures - The CFPB has issued guidance to mortgage servicers, including banks that service mortgage loans for third-party noteholders, that the CFPB...more

Real Estate Industry Alerts Tracker - January 2021 Issue

Kelley Drye & Warren LLP on 1/11/2021

Federal COVID-19 Relief Bill Passes - On December 27, 2020, President Trump signed into law the Coronavirus Response and Relief Supplemental Appropriations Act (the “Act”), which includes numerous additional relief: ...more

Four Significant Changes to Consumer Bankruptcy Included in the Consolidated Appropriations Act, 2021

Bradley Arant Boult Cummings LLP on 1/8/2021

On December 21, 2020, Congress passed the Consolidated Appropriations Act, 2021 (CAA 2021). Similar to the March 2020 CARES Act, several temporary changes to the Bankruptcy Code are included in Title X of the CAA 2021. Below,...more

When Do CARES Act Forbearance Rights and Foreclosure Moratoriums End?

Bradley Arant Boult Cummings LLP on 1/5/2021

The March 2020 Coronavirus Aid, Relief, and Economic Security Act (CARES Act) contains a number of provisions that help borrowers with federally backed mortgage loans. Among these are forbearance protections for borrowers...more

New Stimulus Deal: Overview of Major Provisions Impacting Businesses and Individuals

Ballard Spahr LLP on 12/23/2020

Congress passed additional COVID-19 relief legislation (H.R. 133) on Monday evening, December 21, 2020. Today, President Trump is expected to sign the deal, which includes a $900 billion economic stimulus package that will...more

Issues To Consider On The Path Forward For The Hospitality Industry

Goodwin on 11/24/2020

It is hard to pick any event or series of events that has adversely impacted the hospitality industry as hard as the COVID-19 pandemic. While the summer witnessed increased RevPAR in the U.S. as compared to the depths of...more

COVID-19: Oregon House Bill 4204 Changes the Landscape for Foreclosures - Update

Schwabe, Williamson & Wyatt PC on 9/1/2020

As of August 31, The Governor of Oregon extended House Bill 4204 until the end of the year, effectively prohibiting commercial and residential foreclosures until 2021. The COVID-19 pandemic has affected business in ways...more

Distressed Real Estate During COVID-19: Options Beyond PPP Loans

Pillsbury Winthrop Shaw Pittman LLP on 8/13/2020

Commercial real estate owners may find relief under the Main Street Lending Program, but with many unable to qualify, the recently introduced HOPE Act, if enacted, will fill a much-needed gap. Although the possibility may...more

Nutter Bank Report: July 2020

Nutter McClennen & Fish LLP on 7/30/2020

SBA Issues Instructions to Lenders on Submitting PPP Loan Forgiveness Applications The U.S. Small Business Administration (the “SBA”) has issued a procedural notice announcing that the SBA will begin accepting forgiveness...more

Oregon COVID-19 Law Halts Foreclosures, Expands Borrower Protections

Pillsbury Winthrop Shaw Pittman LLP on 7/29/2020

Oregon HB 4204 law halts COVID-19 related foreclosures and requires lenders to defer payments or negotiate on loan mitigation. Oregon lenders must negotiate with borrowers on mortgage mitigation, deferral or defer payments...more

New Oregon Law Imposes Moratorium on Foreclosures and Notice Requirements on Lenders

Snell & Wilmer on 7/21/2020

Oregon lawmakers held a three-day special legislative session in June during which they tackled, among other issues, legislation aimed at relief for both consumers and businesses impacted financially by the COVID-19 crisis....more

Financial Services Weekly Roundup: Code Libor – SEC And OCIE Issue Risk Alert In Preparation Of Libor Discontinuation

Goodwin on 6/26/2020

In This Issue. The Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert about the scope and content of examinations OCIE plans to conduct of various...more

Residential Evictions: What Homeowners Need to Know (Spanish)

Lowenstein Sandler LLP on 6/13/2020

DESALOJOS RESIDENCIALES: LO QUE LOS PROPIETARIOS DE VIVIENDAS NECESITAN SABER A partir del 3 de junio de 2020 El presente documento es únicamente de carácter informativo, no pretende ser un asesoramiento jurídico y no...more

Summary of 28th Annual Conference on Fair Lending and Consumer Financial Protection

Skadden, Arps, Slate, Meagher & Flom LLP on 5/13/2020

Year In Review - Anand Raman, the head of Skadden’s Consumer Financial Services (CFS) practice, began the conference by providing a summary of notable events and trends over the past year relating to consumer financial...more

Financial Services Weekly Roundup: May Introduces Additions And Expansions To Covid-19-related Policies

Goodwin on 5/7/2020

In This Issue. The Board of Governors of the Federal Reserve System (Federal Reserve) expanded access to its Paycheck Protection Program Liquidity Facility (PPPLF) to non-bank lenders and expanded the collateral eligible to...more

Evictions And Foreclosures To Move Forward, But It Is Not Business As Usual

Haynsworth Sinkler Boyd, P.A. on 5/4/2020

Hearings may be held remotely (via video conference or phone conference), or in person. Before proceeding, however, lenders and landlords must certify that the CARES Act does not prevent the foreclosure or eviction. When...more

Nutter Bank Report: April 2020

Nutter McClennen & Fish LLP on 5/1/2020

President Signs New COVID-19 Relief Bill into Law, Funding Additional PPP Loans - The Paycheck Protection Program and Health Care Enhancement Act was signed into law by President Donald Trump on April 24, providing $484...more

Financial Services Weekly Roundup: PPP Borrowers And Lenders Under The Microscope

Goodwin on 4/30/2020

In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed a new rule that would establish a revised framework for the fair value determination for purposes of the Investment Company Act of 1940 and have...more

Real Estate Implications of the CARES Act

Greenberg Glusker LLP on 4/7/2020

While the federal government’s recently-enacted $2 trillion-dollar stimulus package under the CARES Act provides direct relief to individuals, multi-family borrowers with federally-backed mortgages, and various hard-hit...more

A Six Foot Look at the Business, Loan, and Tax Reform Legislation In Response to COVID-19

Steptoe & Johnson PLLC on 4/3/2020

LOAN ASSISTANCE PROVISIONS - Express Bridge Loan Pilot Program: Unilateral pronouncement of the SBA- • While not part of the CARES legislation, the SBA announced as a response to COVID19, small businesses that...more

The $2 Trillion Federal CARES Act: The Key Financial Assistance Provisions, Key Legislative Changes, and Next Steps

Foley Hoag LLP on 4/3/2020

The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) is a comprehensive economic relief plan designed to stabilize and uplift the American economy during the COVID-19 pandemic. It is unique not only because...more

CARES Act Relief for Individuals

Akerman LLP on 4/2/2020

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law on March 27, 2020, with the intent of helping American individuals and businesses navigate the crisis caused by COVID-19....more

CARES Act: Overview of Major Provisions Impacting Businesses and Individuals

Ballard Spahr LLP on 4/1/2020

On Friday, March 27, 2020, Congress passed and the President signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a $2.2 trillion economic stimulus package that will make hundreds of billions of dollars...more

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Foreclosure › Paycheck Protection Program (PPP)

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