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Pillsbury - Gravel2Gavel Construction & Real...

Real Estate & Construction News Round-Up (03/08/23) – Updates on U.S. Mortgage Applications, the Inflation Reduction Act, and...

This week’s round-up explores the cooling housing market and plummeting mortgage applications, potential tax-savings as a result of the 2022 Inflation Reduction Act (IRA), and new developments in the multifamily sector....more

Kelley Drye & Warren LLP

Real Estate Industry Alerts Tracker - April 2020 Issue

Heard Around the Industry - Status of New Loan Activity: Lender activity during the pandemic appears mixed, with approximately one-third of lenders not lending at all at the moment and the others either being cautious and...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending November 15, 2019

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Real Property Update - Foreclosure / Notice: Mail log sufficient evidence to establish mailing of notice to borrower of default and possibility of foreclosure – Stacknik v. U.S. Bank, N.A., No. 2D18-2156 (Fla. 2d DCA Nov....more

Ballard Spahr LLP

Treasury Recommends Sweeping Industry Changes for Mortgage Lenders and Servicers

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As covered earlier this week in a legal alert, the U.S. Department of the Treasury issued a report recommending sweeping regulatory changes for consumer financial services. Within the report, the Treasury also recommended a...more

Mintz - Real Estate, Construction &...

Failing to File a Satisfaction of Mortgage – The Afterthought That Can Haunt Your Property…

Following the acquisition or financing of a property, most parties to the transaction are happy to circulate the “Congratulations!” missives as soon as the closing has occurred – the seller has their proceeds, the...more

Kilpatrick

CFPB Finalizes Further Changes to Mortgage Servicing Rules

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On March 8, 2018, the Consumer Financial Protection Bureau (CFPB or Bureau) finalized certain changes to its mortgage servicing rules. The Bureau issued a final rule1 to provide mortgage servicers with more flexibility and...more

Bradley Arant Boult Cummings LLP

CFPB Issues Policy Guidance on Early Implementation of the 2016 Mortgage Servicing Amendments

The Consumer Financial Protection Bureau (CFPB) released “policy guidance” on June 27, 2017 related to the effective dates of the 2016 mortgage servicing rule amendments. In response to repeated requests from the mortgage...more

Ballard Spahr LLP

Recent MRB Administrative Actions Highlight that Minutiae Matters to HUD

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On April 4, 2017, the Mortgagee Review Board (MRB) of the U.S. Department for Housing and Urban Development (HUD) published an entry in the Federal Register titled "Mortgagee Review Board: Administrative Actions." The entry...more

Burr & Forman

Third DCA Rejects 57.105 Attorney’s Fees Where Plaintiff Failed to Prove Standing

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On March 1st, Florida’s Third District Court of Appeal affirmatively held that a mortgage holder who fails to prove its standing to foreclose is not liable to a defendant borrower for prevailing party attorney’s fees. The...more

Ballard Spahr LLP

Maryland Issues Revised Proposed Rules for Servicing Transfers

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The Maryland Commissioner of Financial Regulation recently issued a revised proposed regulation impacting servicing transfers. The Commissioner previously issued proposed regulations on this topic in January 2015. This...more

Smith Debnam Narron Drake Saintsing & Myers,...

CFPB Monthly Report Spotlights Mortgage Products

The CFPB has issued its monthly complaint report and is shining its spotlight on mortgage products. The Monthly Complaint Report provides a high level snap shot of trends in consumer complaints, using a three month rolling...more

Carlton Fields

Real Property & Title Insurance Update: Week Ending February 3, 2017

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REAL PROPERTY UPDATE: Foreclosure/Sufficiency of Notice: although lender’s notice of default did not expressly state that property could be sold in foreclosure, it substantially complied with notice provision (paragraph...more

Smith Debnam Narron Drake Saintsing & Myers,...

CFPB Enters into Consent Orders with Citibank Subsidiaries Over Mortgage Servicing Practices

The CFPB recently entered into consent orders with several Citibank subsidiaries attacking their mortgage servicing practices during the early days of the Mortgage Servicing Rules despite the CFPB’s assurances that early...more

Ballard Spahr LLP

California Amends RMLA: Federal Agency Approval Not Required For Processing and Underwriting Companies

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Effective January 1, 2017, the definition of lender under the California Residential Mortgage Lending Act (RMLA) will be amended to include third-party processors and/or underwriters who do not solicit loan applicants,...more

Carlton Fields

Surrendering Your Property in Bankruptcy Means You Must Actually Surrender It

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The title of this article seems self-evident. Lenders, servicers, and others active in the foreclosure arena these past few years know that it has been anything but. Borrowers surrender property in bankruptcy but,...more

Pierce Atwood LLP

Maine Mortgagees: Send Your Mortgagor the Actual Recorded Release, Not a Copy

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On September 13, Maine’s Supreme Judicial Court (the “Law Court”), in a 4-2 split decision, issued an opinion that may expose mortgagees and mortgage servicers to significant liability under the Maine statute that governs the...more

Morrison & Foerster LLP

CFPB Issues Guiding Principles for Loss Mitigation after HAMP

On August 2, 2016, the Consumer Financial Protection Bureau (“CFPB”) published a new guidance document titled CFPB’s Principles for the Future of Loss Mitigation (the “Guidance”), which outlines a recommended framework for...more

Bradley Arant Boult Cummings LLP

CFPB Expands Protections for Successors in Interest – Attend Part 2 of Our “CFPB Mortgage Servicing Amendments” Webinar Series to...

As part of its recent amendments to the mortgage servicing rules in Regulations X and Z, the Consumer Financial Protection Bureau (CFPB) is fundamentally changing the way mortgage servicers are required to treat successors in...more

Ballard Spahr LLP

CFPB Issues Final Rule Amending Mortgage Servicing Regulations

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The Consumer Financial Protection Bureau (CFPB) issued its final rule amending the mortgage servicing rules under Regulations X and Z. The proposal for these amendments was issued in November 2014. The amended provisions...more

Bradley Arant Boult Cummings LLP

CFPB Caps a Busy Week with Amendments to Mortgage Servicing Rules

Yesterday, the Consumer Financial Protection Bureau (CFPB) released the long-awaited amendments to the existing mortgage servicing rules in Regulations X and Z. For the next 12-18 months, Mortgage servicers will once again be...more

Ballard Spahr LLP

CFPB outlines future principles for loss mitigation

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Looking forward to a post-financial crisis and post-HAMP mortgage marketplace, the CFPB has issued a document outlining principles intended to “provide a framework for discussion about the future of loss mitigation.”  The...more

Troutman Pepper

Second Circuit Holds Class Can Be Decertified After Jury Verdict

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A class certification ruling is always subject to challenge if the class representative does not prove the necessary elements of class certification. On July 15, the U.S. Court of Appeals for the Second Circuit held...more

Ballard Spahr LLP

CFPB Highlights Mortgage Servicing Examination Findings and Technology Issues

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In an unmistakable warning shot to mortgage servicers, the CFPB recently issued a “Mortgage Servicing Special Edition” of its Supervisory Highlights. The CFPB also updated portions of its Mortgage Servicing Examination...more

Burr & Forman

Ctrl Alt Delete: CFPB says Mortgage Servicers Need Technological Reboot

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The Consumer Financial Protection Bureau (CFPB) released a special edition of its supervision report, honing in on mortgage servicers on June 22nd. It blamed outdated technology and process breakdown for trends it has seen...more

Carlton Fields

Real Property & Title Insurance Update: Weeks Ending June 10 & 17, 2016

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REAL PROPERTY UPDATE - - Foreclosure/Standing/Hearsay: copy of a note with undated allonge containing blank endorsement sufficient to establish standing as a matter of law, even though bank did not have formal...more

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