News & Analysis as of

Mortgages

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Goodwin

Judge Denies Joint Motion to Vacate CFPB Settlement with a Chicago-Based Non-Bank Lender

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An Illinois federal district court judge presiding over a revived redlining case denied a joint motion to vacate a 2024 voluntary settlement between the Consumer Financial Protection Bureau (CFPB) and a Chicago-based non-bank...more

Hinshaw & Culbertson - Consumer Crossroads

Recent Cases Offer Instruction for Lenders on Avoiding FAPA Estoppel in Foreclosure or Quiet Title Actions in New York

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Under the Foreclosure Abuse Prevention Act (“FAPA”), effective as of December 30, 2022, a lender in a New York foreclosure or quiet title action can be estopped from asserting that the subject mortgage loan was not validly...more

Ballard Spahr LLP

HUD Rescinds Various FHA Mortgage Loan Requirements

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Recently the U.S. Department of Housing and Urban Development (HUD) rescinded various FHA mortgage loan requirements in a series of five Mortgagee Letters....more

Sheppard Mullin Richter & Hampton LLP

CFPB Terminates Two Consent Orders Addressing Overdraft Fees and Mortgage Servicing Violations

Sheppard Mullin Richter & Hampton LLP on

On July 1, the CFPB terminated two separate consent orders, one involving a federal credit union and the other involving a national mortgage servicer. Both orders stemmed from 2024 enforcement actions and involved alleged...more

Sheppard Mullin Richter & Hampton LLP

HUD Requests Public Input on Buy Now Pay Later Loans and FHA Mortgage Eligibility

Sheppard Mullin Richter & Hampton LLP on

On June 24, the Department of Housing and Urban Development (HUD) issued a Request for Information (RFI) to evaluate how Buy Now Pay Later (BNPL) loans may affect FHA-insured mortgage underwriting. The RFI seeks comment on...more

Gould + Ratner LLP

10 Things a Real Estate Investor Should Know About the Big Beautiful Bill

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On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was passed into law and introduced many changes to the tax code and federal spending priorities. The OBBBA has wide-ranging implications for the real estate market. Here...more

Hudson Cook, LLP

State Watch: Consumer Protection Enforcement Update - June 2025: Hot AG Summer kicks off with California's largest-ever CCPA...

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California Attorney General Bonta entered into the state's largest California Consumer Privacy Act ("CCPA") settlement to date with a website publisher for $1.55 million....more

Alston & Bird

California Quickly Enacts New Mortgage Servicing Standards That Can Affect Foreclosures

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What Happened? On June 30, 2025, California Governor Gavin Newsom signed into law, with an immediate effective date, California Assembly Bill 130, a significant housing bill that, notably renders certain mortgage servicer...more

Hogan Lovells

UK Mortgage Rule Review: FCA discussion paper on future of market seeks views on ‘trade-offs and risks’ that changing its rules...

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Following the FCA’s May 2025 ‘first steps’ consultation on proposals to simplify its mortgage framework via a Mortgage Rule Review (MRR), it has now published a discussion paper on the future of the mortgage market. The...more

Adams & Reese

Florida Appeals Court Reverses Mortgage Foreclosure for Lack of Specific Findings

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A Florida Appeals court ruled that specific findings are required in mortgage foreclosure summary judgments – generic orders are not sufficient. Lenders and foreclosure attorneys must provide detailed, record-based...more

Hogan Lovells

English Supreme Court holds that the Etridge protocol applies to hybrid loan transactions

Hogan Lovells on

Lenders in the retail market will be familiar with the Etridge protocol, which (in summary) requires them to ensure that the guarantor of a loan must first obtain independent legal advice, in order to minimise the risk that...more

Blake, Cassels & Graydon LLP

Joint Ventures: Financing Considerations and Potential Pitfalls

Blake, Cassels & Graydon LLP on

If you are an investor, developer or lender in a joint venture that is proposing to finance the property that is the subject of the joint venture, it is important to protect your interests by considering how to address a...more

A&O Shearman

FCA publishes discussion paper on the future of the UK mortgage market

A&O Shearman on

The UK Financial Conduct Authority (FCA) has published discussion paper DP25/2 (DP) accompanied by an updated webpage and press release, on the future of the UK mortgage market, as part of its ongoing mortgage rule review....more

Sheppard Mullin Richter & Hampton LLP

FHFA Orders Fannie Mae and Freddie Mac to Consider Cryptocurrency Reserves in Mortgage Risk Assessments

Sheppard Mullin Richter & Hampton LLP on

On June 25, the Federal Housing Finance Agency (FHFA) issued a directive ordering Fannie Mae and Freddie Mac to prepare proposals for treating cryptocurrency held on U.S.-regulated exchanges as assets for reserves in...more

Orrick, Herrington & Sutcliffe LLP

HUD releases RFI on Buy Now, Pay Later housing products

Orrick, Herrington & Sutcliffe LLP on

On June 24, the FHA within HUD issued an RFI seeking public input on the implications of Buy Now, Pay Later (BNPL) lending for housing affordability and stability. Through this RFI, the FHA will seek to better understand how...more

Orrick, Herrington & Sutcliffe LLP

CFPB terminates consent order against mortgage servicer

Orrick, Herrington & Sutcliffe LLP on

On July 1, the CFPB announced that it terminated a consent order against a mortgage servicer after finding that the company had “fulfilled several obligations,” including payment of a $2 million civil money penalty and $3...more

Mayer Brown

Licensing Link June 2025 Special Edition

Mayer Brown on

Licensing Link is a periodic publication that will keep you informed on hot topics and new developments in state licensing laws, and provide practice tips and primers on important issues related to state licensing across the...more

Bradley Arant Boult Cummings LLP

New California Law Threatens to Stall All Second Lien Foreclosures

Bradley Arant Boult Cummings LLP on

On June 30, 2025, California Gov. Gavin Newsom signed a large “budget trailer” bill that will have significant consequences on the mortgage industry. In relevant part, the new law addresses foreclosures on so-called zombie...more

Mayer Brown

States Dialing in on Mortgage Trigger Leads

Mayer Brown on

In a notable trend in state consumer financial regulation, state legislatures are increasingly seeking to regulate a variety of marketing and advertising practices, rather than limiting their regulatory focus limited to the...more

McGlinchey Stafford

U.S. District Court Dismisses RESPA Claims Against State-Owned Mortgage Company

McGlinchey Stafford on

On June 17, 2025, the United States District Court for the District of Rhode Island dismissed pro se plaintiffs’ claims against the Rhode Island Housing and Mortgage Finance Corporation (R.I. Housing) for alleged violations...more

Fleurinord Law PLLC

Diddy’s Miami Star Island Mansion and Florida Homestead Law: Does the Mortgage Pay-Off Shield Him After the Verdict?

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When Sean “Diddy” Combs paid off the $18.8 million mortgage on his lavish Star Island mansion in Miami, Florida, it wasn’t just a headline-grabbing move. The decision came at a time when Diddy faced mounting civil lawsuits...more

Chambliss, Bahner & Stophel, P.C.

Tennessee Foreclosure Bill to Update Advertising Requirements

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On July 1, 2025, the amended Tennessee Code Annotated, § 35-5-101 took effect, bringing several important changes to the foreclosure process in Tennessee:...more

Alston & Bird

FHFA Director Directs Fannie and Freddie to Consider Crypto Assets to Qualify for Mortgages

Alston & Bird on

What Happened? On June 26, Federal Housing Finance Agency (“FHFA”) Director William Pulte told Fannie Mae and Freddie Mac (the “government sponsored entities”) to draft policies that would consider a borrower’s cryptocurrency...more

Cadwalader, Wickersham & Taft LLP

I’m Still Standing – Yeah, Yeah, Yeah: Wilmington Savings Fund Society v. Tamisi

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In Wilmington Savings Fund Society v. Tamisi, the U.S. District Court for the Eastern District of New York upheld a bankruptcy court’s ruling that Wilmington lacked the necessary standing to enforce a mortgage lien, thereby...more

Troutman Pepper Locke

Georgia Amends Intangible Recording Tax Statute and Expands Loans Exempt from Tax

Troutman Pepper Locke on

On May 9, Governor Brian Kemp signed House Bill 586, revising the definition of “long-term note[s] secured by real estate” that are subject to the intangible recording tax. Under current law, long-term notes are considered...more

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