The new Ginnie Mae issuer financial requirements, first published on August 17, 2022 in APM 22-09 by joint announcement with the Federal Housing Finance Agency, are scheduled to take effect in two parts beginning September...more
Frequently, judicial opinions cite the cases that say settlement of disputes ranks high in New Jersey’s public policy. Accordingly, it is very difficult to get a trial court to set aside, and most of the time, a motion to...more
In Part I of this two-part series, we covered the basic procedure for attacking a negative net-worth affidavit filed to supersede a money judgment. This post offers a case study for successfully applying that procedure and...more
You’ve obtained a money judgment, and your client is anxious to get paid. The judgment debtor files a notice of appeal and an affidavit claiming it has a negative net worth. The judgment debtor argues it is entitled to...more
The IRS has tools inside of its Internal Revenue Manual (“IRM”) available to its agents for determining a Taxpayer’s taxable income as well as documenting its adjustments and corrections through what it calls “Methods of...more
In order to encourage and support the growth of minority and socially and economically disadvantaged businesses, the State of Ohio implemented several business assistance programs to foster the development of these businesses...more
Ever since the advent of FATCA and related global tax transparency movements, U.S. individuals living abroad have likely become far too acquainted with the challenges posed by holding U.S. citizenship or residency. Perhaps...more
Plaintiffs in civil litigation often seek punitive or exemplary damages. “Exemplary damages” means any damages awarded as a penalty or by way of punishment but not for compensatory purposes....more
The Securities and Exchange Commission is proposing to expand the definition of “accredited investor” to include additional entities that could bear the economic risks of investment and certain financially sophisticated...more
Effective October 1, 2019, the Montana Mortgage Act is amended to include the following: Subject to certain exceptions: - For approved servicers by a government sponsored enterprise (GSE), a requirement that it...more
The Pension Benefit Guaranty Corporation (the “PBGC”) launched a Pilot Mediation Project in October 2017 to provide plan sponsors an opportunity to negotiate resolutions in Early Warning Program cases and in termination...more
When the 2017 Tax Cuts and Jobs Act was passed, significant changes were made to the Federal Estate, Gift and Generation-Skipping Transfer Tax, the most prominent of which is the increased applicable exclusion amount, which...more
The Pension Benefit Guaranty Corporation (the “PBGC”) launched a new Pilot Mediation Project to facilitate negotiations with (i) plan sponsors involved in corporate transactions under the purview of the PBGC’s Early Warning...more
On June 14, 2016, the SEC issued an order (the “Order”) to increase the net worth threshold for “qualified clients” under Rule 205-3 of the Investment Advisers Act of 1940, as amended (the “Advisers Act”), from $2 million to...more
FHFA Releases 2015 Report to Congress - On June 15, 2016, the Federal Housing Finance Agency's "Report to Congress" for 2015 was released. The document, required under federal law, analyzes Fannie Mae, Freddie Mac and...more