News & Analysis as of

Loan Servicer CARES Act

Orrick, Herrington & Sutcliffe LLP

VA announces updates to loan repayment relief for borrowers affected by Covid-19

On February 9, the Department of Veterans Affairs (VA) issued a circular to consolidate updates related to VA’s disaster modification and loan deferment options. Effective February 9, the circular reiterates the options for...more

Bradley Arant Boult Cummings LLP

After (Another) Unusual Year, We’re Very Thankful and Wish You a Happy Thanksgiving

Now that the pandemic’s “social distancing” is lessening, we hope you are all able to gather with friends and family this Thanksgiving. As we do the same, we wanted to count our blessings as we review the year. This year, we...more

Ballard Spahr LLP

VA Expands Deferment Option for Borrowers Missing Payments Due to COVID-19

Ballard Spahr LLP on

In its Loan Guaranty Circular 26-21-07 the U.S. Department of Veterans Affairs (VA) expanded a temporary loss mitigation option....more

Holland & Knight LLP

California Legislative Roundup 2020: Financial Services

Holland & Knight LLP on

Notwithstanding a pandemic-induced winnowing of legislative priorities this year, California has passed a handful of new bills to regulate discrete areas of the financial services industry, including student loan servicing,...more

McGlinchey Stafford

Federal Agencies Extend Moratoriums Through the End of 2020

McGlinchey Stafford on

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

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

BCLP

The CARES Act: Guidance For Servicing Federal and Private Student Loans in the U.S. During the COVID-19 Pandemic

BCLP on

The Coronavirus Aid, Relief, and Economic Security Act, Pub. L. No. 116-136 (the “CARES Act”) was signed into law on March 27, 2020. Although much has been made of the obligations imposed on student loans and the servicers of...more

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