News & Analysis as of September 24, 2024

Foreclosure › Proposed Legislation

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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 -

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

Massachusetts Moratorium Marches On

McGlinchey Stafford on 7/22/2020

On July 21, Massachusetts Governor Charlie Baker extended the moratorium on evictions and foreclosures in Massachusetts (which was set to expire on August 18, 2020) by 60 days to October 17, 2020, due to the ongoing...more

COVID-19 WATCH LIST – Senators Warren and Brown Propose Pausing All Debt Payments

Spilman Thomas & Battle, PLLC on 5/6/2020

Sen. Elizabeth Warren (D-Mass.) and Sen. Sherrod Brown (D-Ohio) have released a proposal calling on Congress to provide additional protections for consumers during the COVID-19 pandemic. Their proposal notes that an...more

Watch List - Proposed Rent and Mortgage Cancellation Act of 2020 Suspends Payments During Pandemic but Requires Landlords and...

Spilman Thomas & Battle, PLLC on 4/21/2020

On April 17, a bill was introduced in the United States House of Representatives seeking to create the Rent and Mortgage Cancellation Act of 2020. The primary feature of the bill is it would suspend all rent and mortgage...more

COVID-19: No Evictions During Emergency

Genova Burns LLC on 3/26/2020

In light of the impacts from COVID-19 and the uncertainty related to its effect on business, we have seen the region quickly adjust to a new business reality. Both private industry and government have signaled they will work...more

NJ Is Poised To Halt Residential Evictions During Pandemic

Fox Rothschild LLP on 3/22/2020

On March 16, 2020, the New Jersey State Assembly passed Bill A-3859 which would prohibit residential tenant eviction and eviction due to residential foreclosure during certain emergency circumstances. An identical bill, Bill...more

New York legislature moves to impose new requirements on reverse mortgage industry

Hogan Lovells on 6/27/2019

Originators and servicers of HECMs who do business in New York should take action now to prepare to comply with the new bill’s requirements. Ensuring compliance may require a thorough review of commercial advertisements and...more

Consumer Financial Services Spring 2018 Update

Smith Debnam Narron Drake Saintsing & Myers,... on 5/11/2018

District Court Takes Expansive View of Deceptive or Misleading Practices under FDCPA - The FDCPA prohibits a debt collector from using "any false, deceptive, or misleading representation" in connection with the collection...more

Modifications to the California Homeowner Bill of Rights

BCLP on 1/23/2018

On January 1, 2018, certain provisions of the California Homeowner Bill of Rights (“HBOR”) expired. But contrary to what many assumed, the January 1, 2018 expiration date did not apply to all of the HBOR’s provisions, and...more

Vetoed Foreclosure Bill Will Return

Gray Reed on 7/30/2013

All legislation is not good legislation. The good news is that some of it fails. Such is the case with H.B. 2590 passed by the 2013 Texas legislature but vetoed by the Governor. We mention it because it will be back in the...more

Financial Services Legislative and Regulatory Update -- April 22, 2013

Mintz - Public Finance Viewpoints on 4/22/2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - It was another incredibly busy week, but obviously our thoughts and...more

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Foreclosure › Proposed Legislation

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