News & Analysis as of September 19, 2024

Mortgages › Regulatory Reform

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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 +

New York Courts Split on the Constitutionality of the Foreclosure Abuse Prevention Act

Goodwin on 7/7/2023

In the six months since New York’s governor signed the Foreclosure Abuse Prevention Act, L. 2022, ch. 821 (eff. Dec. 30, 2022) (FAPA), a split has emerged about whether the law applies retroactively....more

NY restricts lenders’ ability to reset statute of limitations on foreclosures

Orrick, Herrington & Sutcliffe LLP on 1/13/2023

In December, the New York governor signed A 7737-B, the “Foreclosure Abuse Prevention Act,” which amends the rights of parties in foreclosure actions....more

HUD Announces Suspension of Effective Date for New Down Payment Assistance Requirements

Ballard Spahr LLP on 7/25/2019

As previously reported, recently a US District Court granted a preliminary injunction preventing the US Department of Housing and Urban Development (HUD) from implementing new requirements for government-provided down payment...more

Window on Washington - This Week in the Nation's Capital - April 28, 2017 Vol. 1, Issue 6

Clark Hill PLC on 5/1/2017

Budget Release: Congressional staff is suggesting that the President’s full 2018 budget should be released on May 22nd. Continuing Resolution: The House gave lawmakers one more week to agree on a spending bill to fund...more

CFPB previews 5-year review of mortgage rules

Ballard Spahr LLP on 3/24/2017

Dovetailing with President Trump’s recent Executive Order requiring a reduction in regulatory burden, on March 21, 2017, a CFPB official remarked at the American Bankers Association Government Relations Summit that the CFPB...more

Shelby Draft Regulatory Relief Bill Addresses Various Residential Mortgage Issues

Ballard Spahr LLP on 5/18/2015

On May 12, 2015 Senator Richard Shelby (R-AL) released a draft of a regulatory reform bill entitled the Financial Regulatory Improvement Act of 2015. The draft bill addresses various residential mortgage lending issues, a...more

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