News & Analysis as of

Mortgage Lenders

Pennsylvania Adds Licensing Requirements for Mortgage Servicers

by Ballard Spahr LLP on

Pennsylvania is adding a requirement that a Mortgage Servicer License is required to engage in the mortgage loan business as a mortgage servicer. As such, the definition of “mortgage loan business” has been amended to include...more

The State AG Report Weekly Update

by Cozen O'Connor on

AG Elections- Democrat Clare Kindall Declares Candidacy for Connecticut Attorney General- Democrat Clare Kindall, an Assistant AG at the Connecticut AG’s office, announced her bid for Connecticut AG in 2018. ...more

Michigan Using Uniform Authorized Agent Reporting

by Ballard Spahr LLP on

The Michigan Department of Insurance and Financial Services will start using the NMLS Uniform Authorized Agent Reporting functionality to fulfill agent reporting requirements. ...more

NJ Department of Banking and Insurance Amends Its Mortgage Processing Regulation; Creates New Form

by Reed Smith on

The New Jersey Department of Banking and Insurance (the “Department”) recently took two actions of significance to residential mortgage lenders doing business in the state of New Jersey. It amended its mortgage processing...more

CFPB Announces Intent to Reconsider Disclosure Rule

by McGuireWoods LLP on

On December 21, 2017, the Consumer Financial Protection Bureau (CFPB) issued a public statement regarding implementation of the Home Mortgage Disclosure Act (HMDA), noting that it plans to reconsider aspects of the mortgage...more

Texas Home Equity Loan Amendments Enacted

by Alston & Bird on

Texans approved a constitutional amendment changing the state’s home equity loan landscape beginning January 1. Our Financial Services & Products Group examines the new law and its implications and limitations....more

CFPB launches new HMDA online tool, continues rate spread calculator

by Ballard Spahr LLP on

The CFPB has launched a new online “Digital Check Tool” to be used by companies reporting HMDA data starting January 1, 2018. More specifically, the new tool supports the Universal Loan Identifier (ULI) requirements of the...more

CFPB, other agencies announce good faith efforts approach to revised HMDA rule enforcement; CFPB to engage in HMDA rulemaking to...

by Ballard Spahr LLP on

The CFPB has announced that with regard to the collection in 2018 of the expanded data fields under the revised Home Mortgage Disclosure Act (HMDA) rules, the CFPB does not intend to require data resubmission unless data...more

Real Property, Financial Services, & Title Insurance Update: Weeks Ending December 1 & 8, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - - Foreclosure/Errors in Legal Description: error in legal description did not preclude judgment of foreclosure because property was sufficiently identified by accurate lot and tract, street address,...more

Green Loans Pave the Way for Green CLOs and Green RMBS

by White & Case LLP on

While green bonds have been the darling of the capital markets for the past few years, there has not been the same level of discussion about green loans. We expect 2018 to be a transformational year for the green loan market...more

Portland Residential Home Energy Score Requirement Takes Effect January 1

by Tonkon Torp LLP on

Starting January 1, 2018, single-family home sellers in Portland will be required to report a Home Energy Score (HES) to potential buyers. The HES is a federally-developed measurement of the energy-related use and associated...more

Legislation to Add “Servicing” License to Pa. Mortgage Licensing Act

by Reed Smith on

ATTENTION PENNSYLVANIA MORTGAGE SERVICERS! On December 13, the Pennsylvania Legislature gave final approval and sent to the governor a substantial amendment to Pennsylvania’s Mortgage Licensing Act, which would establish a...more

MSR Holder Sanctioned for Not Holding Requisite State License

by Alston & Bird on

On November 2, 2017, the Arkansas Securities Commissioner (ASC) issued a consent order against a financial services company for purchasing and holding “master servicing rights” (commonly referred to as mortgage servicing...more

Federal Reserve Announces Consent Order Related to Bank’s Use of Discount Points

by Ballard Spahr LLP on

On November 28, 2017, the Federal Reserve Board announced a Consent Order with Peoples Bank (Peoples) in Lawrence, Kansas. The Order charges Peoples with violating Section 5 of the Federal Trade Commission Act (FTCA) by...more

Federal Reserve Enters Consent Order With Kansas Bank Over Deceptive Mortgage Origination Practices

by Goodwin on

?On November 28, the Federal Reserve announced that it had entered into a consent order with a Kansas state bank, resolving allegations that the bank engaged in deceptive residential mortgage lending practices in violation of...more

Texas' Proposition 2 Expands Home Equity Loan Market for Lenders and Consumers

by Pepper Hamilton LLP on

On November 7, Texans approved Proposition 2 by a more than 2-1 majority. The measure amends section 50(a) of Article 16 of the Texas Constitution, making changes to the home equity loan (HEL) market in the state. Notably,...more

The hidden exposure of tenant estoppels and SNDAs

by Thompson Coburn LLP on

You have signed a lease as a tenant. The negotiations were long and convoluted, but the lease has been signed and the space has been built-out. You have moved your company into the space, paid the security deposit, and are...more

Texas Voters Relax Home Equity Lending Restrictions

Texas has long had some of the tightest consumer protections in the home equity lending space. After years of lobbying by the industry, a constitutional amendment was submitted to voters on November 7, 2017, aimed at relaxing...more

Electronic Mortgage Closings Improve Homebuying

The financial services industry — and the consumer financial services marketplace in particular — is experiencing significant innovation. Technology has facilitated the emergence of fintech as a major industry — fundamentally...more

A New HUD Rule for Reverse Mortgages, with Additional Rule Changes Proposed in Congress

by Hinshaw & Culbertson LLP on

This past month, Washington was busy with rule changes and proposed legislation that underscores the ongoing debate over the origination and foreclosure of reverse mortgages. First, the U.S. Department of Housing and Urban...more

CFPB Launches Beta Version of HMDA Platform

by Ballard Spahr LLP on

On Friday November 3, 2017 the Consumer Financial Protection Bureau (CFPB) announced the launch of the Internet-based platform that financial institutions will use to submit data under the Home Mortgage Disclosure Act (HMDA)....more

What happens when a charge is discharged in error?

by Dentons on

NRAM Ltd v. Evans [2017] EWCA Civ 1013 is an interesting case in which a bank discharged a mortgage in error. While the bank was successful in getting its charge reinstated at the Land Registry, it was not put back into...more

Real Property, Financial Services, & Title Insurance Update: Week Ending October 20, 2017

by Carlton Fields on

REAL PROPERTY UPDATE FINANCIAL SERVICES UPDATE  TITLE INSURANCE UPDATE - Foreclosure: witness may testify as to business records of another company so long as that witness can lay proper foundation of personal knowledge...more

Lenders Beware–Retroactive Tax Lien Trumps Recorded Mortgage [Florida]

by Charles (Chuck) Rubin on

Under Florida law, a mortgage lender’s lien against real property takes priority over later filed liens. However, under Fla.Stats. §197.122(1), ad valorem tax liens filed against Florida real property will take priority over...more

Equitable Subrogation In Real Estate

by SmithAmundsen LLC on

The doctrine of conventional subrogation in real estate is familiar to most lenders: a new lender that pays the mortgage of a prior one steps into the shoes of – or is subrogated to – the prior lender’s security interest in...more

818 Results
|
View per page
Page: of 33
Cybersecurity

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.