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Mortgages Lenders Borrowers

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 -
Goulston & Storrs PC

To Deed, Or Not To Deed (That is the Question): The Pros and Cons of a Deed in Lieu

Goulston & Storrs PC on

Amidst soaring interest rates and the recent swell in commercial real estate loan workouts, borrowers and lenders alike are increasingly considering an alternative to the traditional and sometimes long and cumbersome...more

Alston & Bird

Structured Finance Spectrum - Summer 2023

Alston & Bird on

Welcome to the latest edition of the Spectrum, covering hot-topic issues in the structured finance markets in the U.S. and UK. This edition features smooth sailing through safe harbors, the English Court doing the cross-class...more

Ballard Spahr LLP

CFPB Summer 2023 Supervisory Highlights looks at auto origination and servicing, consumer reporting, debt collection, deposits,...

Ballard Spahr LLP on

The CFPB has released the Summer 2023 edition of Supervisory Highlights.  The report discusses the Bureau’s examinations in the areas of auto origination and servicing, consumer reporting, debt collection, deposits, mortgage...more

Orrick, Herrington & Sutcliffe LLP

FHA requires info on language preference, homeowner education in mortgage originations

On June 27, FHA announced lenders will have to submit information about borrowers’ language preferences and homeownership education or housing counseling history through the Supplemental Consumer Information Form when...more

Hinshaw & Culbertson - Consumer Crossroads

Rhode Island Supreme Court Concludes that Door Hanger Left by Mortgage Servicer Prior to Foreclosure Satisfied HUD Face-to-Face...

In Montaquila v. Flagstar Bank, the Rhode Island Supreme Court rejected a borrower's attempt to expand the plain language of the U.S. Department of Housing and Urban Development's (HUD) federal regulation requiring loan...more

Allen & Overy LLP

A penalty for your thoughts: default interest rate found to be penal

Allen & Overy LLP on

The High Court has found a clause that imposed default interest of 4% per month on a defaulting party to be a penalty and therefore unenforceable....more

Katten Muchin Rosenman LLP

Mortgage Bankers Association Files Amici Brief in CFPB Constitutionality Case

On May 15, the Mortgage Bankers Association, the National Association of Home Builders, and the National Association of Realtors filed a joint amici curiae (friend of the court) brief in connection with the case challenging...more

Miller Starr Regalia

A New Class Of Redemptioners: The Enhanced Position Of Tenants, Prospective Owner Occupants, And Nonprofit Or Governmental...

Miller Starr Regalia on

The borrower has no post-sale redemption right in California’s nonjudicial foreclosure process. This redemption bar has long been justified as a trade-off for the lender’s post-sale deficiency bar under Civ. Proc. Code, §...more

Orrick, Herrington & Sutcliffe LLP

FHFA delays effective date of DTI ratio-based fee

On March 15, FHFA delayed the implementation of a new debt-to-income ratio-based fee to August 1, in order to ensure lenders have sufficient time to prepare. In January, FHFA made several changes relating to upfront fees for...more

Bradley Arant Boult Cummings LLP

What COVID Home Equity Repayment Plan Means For Lenders | Insights & Events

The Federal Housing Administration recently issued Mortgagee Letter 2022-23, establishing a new COVID-19 Home Equity Conversion Mortgage Property Charge Repayment Plan. The COVID-19 HECM Property Charge Repayment Plan would...more

Tannenbaum Helpern Syracuse & Hirschtritt LLP

Proposed Tax on Real Estate Mezzanine Debt and Preferred Equity Financing…Once Again.

Earlier this month, the New York State Senate (S318) and Assembly (A407) reintroduced proposed legislation seeking to extend the New York State mortgage recording tax to mezzanine debt and preferred equity financings. This...more

Troutman Pepper

New York Enacts Foreclosure Abuse Prevention Act

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On December 30, 2022, New York Governor Kathy Hochul signed the Foreclosure Abuse Prevention Act (FAPA) into law. The legislation remained unchanged from its passing back in May 2022 despite many industry experts expecting...more

Bradley Arant Boult Cummings LLP

The Future of Default Servicing

As fears of a recession grow, it would be prudent for everyone—servicers and regulators alike—to think hard about default servicing improvements and reforms. More than two years after the COVID-19 pandemic took hold of the...more

Troutman Pepper

Fourth Circuit Holds Merely Sending Notice of Rescission Under TILA Does Not Effect Rescission — the Borrower Must Tender

Troutman Pepper on

In a July 15 published decision, the Fourth Circuit reversed a West Virginia District Court’s ruling against a mortgage servicer in a purported class action, holding that merely sending a notice of rescission under the Truth...more

Ballard Spahr LLP

State Developments Regarding Work From Home (Non-Depository)

Ballard Spahr LLP on

There continues to be a trend towards extending, and in some cases, codifying through regulation or statute, emergency COVID-19 guidance enabling work from home.  Most recently...more

Allen & Overy LLP

Lenders beware: are you waiving your rights away?

Allen & Overy LLP on

In Lombard North Central v European Skyjets, the court gives all secured lenders a lesson in how to declare an event of default, terminate a credit agreement and enforce security. What makes this case interesting is that the...more

Cadwalader, Wickersham & Taft LLP

Further Developments in Mezzanine Foreclosures

The New York State Supreme Court, New York County Commercial Division (the “Court”) decided in U.S. Bank, N.A. v. 342 Property LLC, on February 14, 2022, that a mezzanine lender that is not a party to loan documents that...more

Allen & Overy LLP

Grantor's security for own existing debt cannot be a transaction at undervalue but Grantor's security for third party's debt can...

Allen & Overy LLP on

The Singapore Court of Appeal recently ruled that a third party mortgage was a transaction at undervalue. It accordingly ordered the mortgage discharged. The grounds of the Court of Appeal decision were that the mortgagor had...more

Perkins Coie

Copper Creek Confirms That Bankruptcy Discharges Have No Effect on the Statute of Limitations in Washington State

Perkins Coie on

As we previously noted, the statute of limitations on actions to enforce a note or deed of trust can be a brutally effective sword for borrowers in Washington State. Under the six-year limitations period of RCW 7.28.300, a...more

Cadwalader, Wickersham & Taft LLP

The ESG Factor, January 2022 - One of These Things Is Not Like the Other: New York State Court Upholds Commercial Reasonableness...

On November 10, 2021, the owner of the State Street Financial Center in Boston, Massachusetts defaulted on its debt, consisting of a mortgage loan in the amount of $535,000,000 and three mezzanine loans in the aggregate...more

Patton Sullivan Brodehl LLP

Loan Modifications and Losing Lien Priority

Modifying a loan can sometimes cause a loss of lien priority. It all depends on the facts underlying the modification, and even the original loan....more

Troutman Pepper

CFPB Highlights Extension of Period to Request Initial COVID-19 Hardship Forbearance for Certain Government Backed Loans

Troutman Pepper on

On October 4, the Consumer Financial Protection Bureau (CFPB) announced on its website that the deadline to request initial forbearance for a COVID-19 hardship for loans backed by the Federal Housing Administration (HUD/FHA),...more

Law School Toolbox

Bar Exam Toolbox Podcast Episode 146: Listen and Learn -- Mortgages and Priority

Law School Toolbox on

Welcome back to the Bar Exam Toolbox podcast! In today's installment of our "Listen and Learn" series, we're focusing on Real Property. In particular, we're diving into the tricky subtopic of mortgages and priorities.  In...more

Goodwin

FHFA Eliminates Adverse Market Refinance Fee

Goodwin on

In This Issue. The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac will no longer charge lenders the Adverse Market Refinance Fee; the Federal Deposit Insurance Corporation (FDIC) is seeking...more

Goodwin

House Votes to Repeal OCC True Lender Rule

Goodwin on

In This Issue. The House of Representatives voted to pass a Congressional Review Act resolution repealing the Office of the Comptroller of the Currency’s (OCC) “true lender” rule; the Consumer Financial Protection Bureau...more

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Updated: Dec 28, 2021:

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Privacy Officer
JD Supra, LLC
150 Harbor Drive, #2760
Sausalito, CA 94965

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Privacy Officer
JD Supra, LLC
150 Harbor Drive, #2760
Sausalito, CA 94965

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Contacting JD Supra

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