Mortgages, Loans, Financial Institutions

CFPB Advises Against Certain Contract-for-Deed Practices

Troutman Pepper on 8/16/2024

This week, the Consumer Financial Protection Bureau (CFPB or Bureau) issued an advisory opinion and a research report addressing contract-for-deed home financing, also known as a “land contract,” “land installment contract,”...more

Structured Finance Spectrum - Summer 2024

Alston & Bird on 8/7/2024

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 the new UK securitization regime, eHELOCs, and climate risk disclosures....more

Troutman Pepper Weekly Consumer Financial Services Newsletter - July 2024 # 4

Troutman Pepper on 7/26/2024

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

CFPB and Other Federal Agencies Finally Adopt AVM Rule

Alston & Bird on 7/1/2024

What Happened? On June 20, 2024, a group of federal regulators published a rule addressing for the use of automated valuation models (AVMs) in mortgage origination and secondary market transactions....more

HUD Updates Home Equity Conversion Rules for Purchases

Sheppard Mullin Richter & Hampton LLP on 5/28/2024

On April 26, the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2024-06, announcing changes to the Home Equity Conversion Mortgages (HECMs) for purchases (H4P loans), a mortgage program...more

The Answers to the CRA Questions Everyone is asking: What must we do on April 1?

GeoDataVision on 3/20/2024

With April 1, 2024, the effective date for the new CRA rule fast approaching, every bank is asking what must we do on April 1? Here are the answers....more

Structured Finance Spectrum – Winter 2024

Alston & Bird on 2/22/2024

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 the shifting single-family rental landscape, what’s next for EDGAR, and...more

How to Figure Out How the New CRA Affects Your Bank

GeoDataVision on 2/21/2024

I’ve written at least a dozen articles about the dramatic impact the new CRA is going to have on banks. Until now, only about 1.2% of bank CRA examinations end with a failing grade. But, by the estimates of the regulators, if...more

The new CRA: Surprises and Problems by Omission

GeoDataVision on 2/7/2024

I have written a number of articles about the new CRA and the problems its requirements will impose on banks. But there are also problems posed by what the new Rule omits....more

9 Consumer Finance Issues to Note From CFPB Report

Troutman Pepper on 12/15/2023

In July, the Consumer Financial Protection Bureau published a report highlighting various unfair, deceptive, and abusive acts or practices it claims to have uncovered during its supervisory examinations from July 2022 to...more

CFPB/Fed/OCC increase exemption thresholds for appraisal requirement, Regs Z and M (UPDATED)

Ballard Spahr LLP on 11/15/2023

The CFPB, Fed, and OCC have announced that they are increasing three exemption thresholds that are subject to annual inflation adjustments. Effective January 1, 2024 through December 31, 2024, these exemption thresholds are...more

Structured Finance Spectrum - Summer 2023

Alston & Bird on 8/9/2023

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

Mortgage Loan Repurchase Facilities: A Brief Overview of a Frequently Used Financing Structure

Dechert LLP on 5/5/2023

A mortgage loan repurchase facility (more casually referred to as a “repo”) is a financing structure commonly utilized to finance mortgage loans. These facilities are utilized by both residential and commercial mortgage loan...more

Residential Mortgage Loans: Capital Relief Through Synthetic Securitization

Mayer Brown on 5/5/2023

Banking organizations looking to reduce the amount of risk-based regulatory capital required to support residential mortgage loan portfolios can use synthetic securitization to convert the capital treatment of their exposures...more

That's 'Interest'ing May 2022 - A Primer on Interest Rate Caps

Cadwalader, Wickersham & Taft LLP on 5/31/2022

When the interest rate on a mortgage financing is not fixed, the amount that a borrower may be required to pay may fluctuate depending on changes in the underlying index to which the “margin” or “spread” is tied. While a...more

Highlights of Washington Department of Financial Institutions’ Recent Mortgage Industry Webinar

Alston & Bird on 6/11/2021

A&B ABstract: In a webinar earlier this month, the Washington Department of Financial Institutions provided updates on licensing, rulemaking, and recent examination findings....more

It’s Time to (Carefully) Secure that Guaranty

Sheppard Mullin Richter & Hampton LLP on 3/9/2021

The 2021 increase to California’s homestead exemption to up to $600,000 stands to change the legal and economic relationship of guarantors with their lenders and vendors who make loans or sell goods or services on...more

Structured Finance Spectrum – January 2021

Alston & Bird on 1/11/2021

Moving on from 2020 and building up for 2021. Read our Structured Finance Spectrum, covering safe harbors & remedies, CLOs & QMs, and passive & ESG investing, among other hot-topic issues in the structured finance markets in...more

CFPB Retires the “QM Patch” and Revises QM Rules

Alston & Bird on 12/28/2020

A&B ABstract: In a significant final rulemaking with potentially far-reaching consequences for the residential mortgage markets, the Consumer Financial Protection Bureau (“CFPB”) is terminating the “QM Patch” and...more

Lender Has No Duty to Monitor and Correct Public Records

Patton Sullivan Brodehl LLP on 11/17/2020

Mortgage lenders tend to pay a lot of attention to the real property securing their loans, as they should. Before the loan is made, lenders scrutinize the property to evaluate whether its fair market value will support the...more

Are Financial Institutions Creating a Corporate Governance Strategy to handle the End of Libor?

Foodman CPAs & Advisors on 8/21/2020

The London Interbank Offered Rate (LIBOR) expires at the end of 2021. Used since the early 1980s, LIBOR is the most referenced global short-term interest rate, and a “standard benchmark”....more

The Cura Italia Decree and other measures enacted to cope with the COVID-19 outbreak in Italy

Hogan Lovells on 3/27/2020

As a result of the health emergency caused by the widespread outbreak of the virus COVID-19, several measures have been adopted throughout the EU aimed at limiting the occurrence of significant disruptions to the financial...more

NYDFS requires regulated institutions to submit plans describing preparations for LIBOR transition by Feb. 7

Ballard Spahr LLP on 1/9/2020

The New York Department of Financial Services has sent a letter to the institutions that it regulates requiring each such institution, by February 7, 2020, to provide to DFS a description of its “plan to address its LIBOR...more

Financial Daily Dose 11.19.2019 | Top Story: T-Mobile Chief John Legere to Leave Company in April

Robins Kaplan LLP on 11/19/2019

T-Mobile chief and fan-of-magenta John Legere has announced that he’ll be stepping down in April at the end of his current contract. Legere will be succeeded by Mike Sievert, the carrier’s current president and COO....more

Washington Amends Consumer Loan Act Regulations: What Mortgage Servicers and Passive Investors Need to Know

Alston & Bird on 8/29/2018

Washington has joined the ranks of states requiring licensing of mortgage servicing rights holders and added tougher rules for recordkeeping, compliance, and offshoring activities. Our Financial Services & Products Group...more

Mortgages › Loans › Financial Institutions

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