News & Analysis as of

Foreclosure › Proposed Rules

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... more +
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 -
Alston & Bird

CFPB Releases Long-Awaited Proposal to Amend Regulation X Loss Mitigation Rules

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What Happened? On July 10, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) proposed a rule to amend provisions of its Mortgage Servicing Rules to significantly revamp requirements relating to borrowers...more

Alston & Bird

Structured Finance Spectrum – February 2023

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Welcome to the latest edition of the Spectrum, covering hot-topic issues in the structured finance markets in the U.S. and UK. This edition features a new year for a new UCC Article 12, a farewell to LIBOR, and an appraisal...more

Nutter McClennen & Fish LLP

Nutter Bank Report: April 2021

Nutter McClennen & Fish LLP on

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

Sheppard Mullin Richter & Hampton LLP

CFPB April 5 Announces Foreclosure Restriction and Additional Loss Mitigation Requirements

Sheppard Mullin Richter & Hampton LLP on

On April 5, the Consumer Financial Protection Bureau (“CFPB”) proposed amendments to Regulation X with the effect of preventing foreclosure on certain residential mortgage loans until January 1, 2022. With a proposed...more

Goodwin

CFPB Proposes Amendments to Regulation X to Prevent Wave of COVID-19 Foreclosures

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On April 5, 2021, the Consumer Financial Protection Bureau (CFPB) issued a press release and proposed rule requesting public comment on proposed amendments to Regulation X which “would establish a temporary COVID-19 emergency...more

Goodwin

CFPB Proposes Mortgage Servicing Changes; Supreme Court Weighs in on TCPA

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In This Issue. The Consumer Financial Protection Bureau (CFPB) continued to be active under its new leadership this week, warning mortgage servicers to prepare now for an anticipated surge of homeowners needing assistance...more

Perkins Coie

CFPB Proposes Mortgage Servicing Rule Changes to Prevent Foreclosures

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On April 5th, the CFPB proposed a set of rule changes intended to prevent foreclosures as emergency federal foreclosure protections expire this summer. Given that the expected surge of borrowers exiting forbearance in the...more

Goodwin

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

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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

Buchalter

Buchalter Client Alert COVID-19: Why am I Thinking About Forbearance?

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Our lender clients will be soon dealing with some of the likely economic impacts of the coronavirus. When quarterly financial statements are issued, many compliance certificates will reflect violations of financial...more

Bradley Arant Boult Cummings LLP

Mortgage Servicers: Keep an Eye on the CFPB’s Advice to Borrowers Impacted by COVID-19

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On March 31, 2020, the CFPB posted a “Guide to coronavirus mortgage relief options,” which provides instruction to mortgage loan borrowers who may be impacted by COVID-19 on when and how to go about obtaining assistance....more

Seyfarth Shaw LLP

Summary of Federal and State Governmental Developments Pertaining to Loan Forbearance and Lease Enforcement in Response to...

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Since March 13, 2020, the U.S. has been operating under a declared state of emergency in response to the spread of COVID-19, with many state and local governments issuing their own emergency rules and regulations designed to...more

Hinshaw & Culbertson - Consumer Crossroads

Congress is Nearing a $2 Trillion Stimulus Deal, Here's What it Means for Loan Servicers

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The COVID-19 outbreak has resulted in unprecedented job loss for millions of Americans, creating economic uncertainty and challenges for loan servicers in 2020. Until the outbreak is controlled, missed payments on mortgages...more

Seyfarth Shaw LLP

A Recap of Federal Loan Program Developments Affecting Commercial Real Estate

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This week saw a plethora of activity to support federally related loan programs affecting commercial real estate. Below is a summary of the applicable guidance, announcements and proposed laws....more

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