Mortgages, Financing

VA Issues Guidance on Processing Assumptions with Secondary Financing

Alston & Bird on 8/29/2024

What Happened? On August 11, 2024 the Department of Veterans Affairs (the “VA”) released Circular 26-24-17, clarifying how a servicer should process an assumption when there is secondary financing. Significantly, the VA...more

Consumer Finance State Roundup - August 2024

Alston & Bird on 8/6/2024

The latest edition of the Consumer Finance State Roundup highlights three recently enacted measures of potential interest from California, Missouri, and North Carolina....more

Tougher Standards for Certain Home Improvement Loans

Goodwin on 5/5/2023

On May 1, 2023, the Consumer Financial Protection Bureau (CFPB) issued a report and a proposed rule to clarify and strengthen its regulation of so-called Property Assessed Clean Energy (PACE) financing. PACE financing is...more

TPA Tricks of the Trade: A Lawyer’s Perspective

Dinsmore & Shohl LLP on 4/18/2023

Borrowers who go through the process of obtaining an FHA-insured multifamily loan generally come to the same conclusion: the juice is worth the squeeze. At the end of the day, they get to enjoy a unique blend of benefits (35...more

DOJ settles with bank for $31 million to resolve alleged redlining allegations

Orrick, Herrington & Sutcliffe LLP on 1/18/2023

On January 12, the DOJ announced a more than $31 million settlement with a national bank over redlining allegations. Calling the action the largest redlining settlement agreement in the department’s history...more

Evaluating Real Estate Investments – Buyer Sources and Uses of Funds

Whitman Legal Solutions, LLC on 3/28/2022

Like buying a concert ticket, real estate investors pay for more than just real estate when they invest in real estate. Although most of the money usually goes to purchase real estate, savvy investors should know where their...more

New Freddie Mac Underwriting Guidelines for Condominium and Cooperative Projects

Foley & Lardner LLP on 1/25/2022

If you develop or manage condominium or cooperative projects, you need to be aware of new Freddie Mac underwriting requirements - Freddie Mac has promulgated new temporary underwriting requirements for mortgages secured...more

Buying and Selling Real Estate in Hong Kong (Updated)

International Lawyers Network on 1/7/2022

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER HONG KONG LAW - Introduction - Hong Kong is one of the most densely populated cities over the world. Due to historical reasons, almost all lands in Hong Kong are leasehold...more

Best Practices for Security and Perfection of Digital Infrastructure Assets

King & Spalding on 3/24/2021

The structured finance sector has seen an expansion of digital infrastructure asset classes and related financings. Digital infrastructure asset classes have grown to include data centers, wireless towers, distributed...more

New York Assembly Sponsored Legislation Proposes New Tax on Mezzanine Debt and Preferred Equity

Cadwalader, Wickersham & Taft LLP on 2/10/2021

Assembly Bill A3139 was introduced by Assembly Member Harvey Epstein on January 22, 2021. The bill is currently in committee but, if enacted, it will amend New York’s Real Property Law and Tax Law to require the recording of...more

Buying and Selling Real Estate in Hong Kong (Updated)

International Lawyers Network on 2/8/2021

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER HONG KONG LAW - Introduction - Hong Kong is one of the most densely populated cities over the world. With very little available land, real estate developers tend to build...more

Industry Trade Groups Respond to FHFA Request for Input on PACE Transactions

Ballard Spahr LLP on 3/18/2020

In January 2020 the Federal Housing Finance Agency (FHFA) published a request for input on Property Assessed Clean Energy (PACE) transactions involving residential property. ...more

Buying And Selling Real Estate In Hong Kong (Updated)

International Lawyers Network on 2/29/2020

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER HONG KONG LAW - Introduction - Hong Kong is one of the most densely populated cities over the world. With very little available land, real estate developers tend to build...more

Financing Real Estate Projects in Los Cabos, Mexico

Snell & Wilmer on 2/21/2020

The development of real estate projects, including hotels and master planned communities in Los Cabos and other places in Mexico, commonly requires financing by banks and other institutional lenders. This article presents an...more

Liquidity in Today’s Economy

White and Williams LLP on 2/11/2020

I recently was chatting with a residential mortgage broker and learned that conventional mortgages, those that qualify for purchase by Fannie Mae, carry a higher interest rate than “jumbo” mortgages, those that are too large...more

Considering Purchasing a Condo Unit But Worried About Financing?

Tucker Arensberg, P.C. on 1/20/2020

Have you considered purchasing a condominium unit but were scared off when someone warned you that obtaining a mortgage loan could be difficult? It seems like most real estate professionals have war stories about seemingly...more

OCC and FDIC issue joint proposal to revise CRA regulations

Ballard Spahr LLP on 12/19/2019

The OCC and FDIC have issued a joint proposal to revise their regulations implementing the Community Reinvestment Act (CRA). Although the Federal Reserve, OCC and FDIC, are the primary CRA regulators, the Fed did not join...more

Financial Daily Dose 12.18.2019 | Top Story: Fiat Chrysler and Peugeot Boards Agree to $50 Billion Merger

Robins Kaplan LLP on 12/18/2019

Fiat Chrysler and rival Peugeot have agreed to binding merger terms that, if approved by US and European regulators, would create a “$50 billion auto giant that would rank among the world’s largest car companies by sales”....more

Anatomy of a Real Estate Transaction—Financing

Whitman Legal Solutions, LLC on 10/28/2019

Financing arrangements are like the themes and tonality in a musical composition. Different aspects of the financing process occur at different points in the real estate transaction. Yet, most real estate buyers depend...more

PACE Loan Considerations for Commercial Real Estate Lenders

White and Williams LLP on 2/6/2019

Property Assessed Clean Energy (PACE) loans provide property owners with financing for “green” improvements designed to increase energy efficiency, water conservation, disaster resiliency and renewable energy solutions. PACE...more

HUD rolls back PACE financing in single family FHA deals

Ballard Spahr LLP on 12/12/2017

In July 2016 HUD issued guidance on the use of Property Assessed Clean Energy (PACE) assessments for single family properties with FHA-insured mortgages. In January 2017, HUD followed with guidance on the use of PACE...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 12/8/2017

CFTC Statement on Self-Certification of Bitcoin Products by CME, CFE and Cantor Exchange - On December 1, 2017, the Commodity Futures Trading Commission ("CFTC") issued a Statement on the Self-Certification of Bitcoin...more

Court of Appeal case - of interest to Security Trustees

Bryan Cave Leighton Paisner on 3/16/2016

Including an unsecured creditor in an agreed payments waterfall does not by itself confer on that unsecured creditor the benefit of a mortgagee’s usual duties on enforcement of security, or a direct claim against the sale...more

Is Your Lease Financeable?

Manatt, Phelps & Phillips, LLP on 8/13/2015

It is often the case that parties enter into a lease thinking it is a temporary use of space by the tenant, which frequently amounts to nothing more than an expense line item on the budget. However, if a lease is structured...more

House Financial Services Committee passes CFPB-related bills including bill creating TRID Rule hold harmless period

Ballard Spahr LLP on 7/31/2015

Wednesday, the following four CFPB-related bills were passed by the House Financial Services Committee: H.R. 3192, the “Homebuyers Assistance Act”: The bill would provide a hold harmless period for the TILA/RESPA Integrated...more

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