News & Analysis as of

Waivers Mortgages

McGlinchey Stafford

What Mortgage Servicers Need to Know About CFPB’s Junk Fees Update

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In early March 2023, the Consumer Financial Protection Bureau (CFPB) issued a special edition of its Supervisory Highlights that focused exclusively on “junk fees” uncovered in supervisory examinations in various industries,...more

Bradley Arant Boult Cummings LLP

FHA Extends Partial Waiver of Face-to-Face Meeting Requirement

On December 19, 2022, the Federal Housing Administration (FHA) issued an additional extension of the temporary waiver of face-to-face contact required under 24 CFR § 203.604 Contact with the Mortgagor, under Mortgagee Actions...more

Cadwalader, Wickersham & Taft LLP

Something Special, April 2021 | Issue No. 23 - Don’t Be Cruel: Appellate Division Upholds Waiver of Fiduciary Duties But Denies...

Can contracting parties waive all common law fiduciary duties? That was one of the questions presented to the New York Supreme Court, Appellate Division, First Department (the “Court”) in 111 West 57th Investment LLC, on...more

Seyfarth Shaw LLP

When the Workout Doesn't Work—Enforcement of Commercial Mortgage Loans in California (Part 3: One Action Rule and Anti-Deficiency...

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California's one action rule and anti-deficiency protections, together with the related fair value limitations, are procedural rules with substantive effects that establish limitations on the manner of enforcing rights and...more

Burr & Forman

CFPB Allows Waiting Periods under TILA and RESPA to be Modified or Waived Due to COVID-19

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On April 29, 2020, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule allowing certain consumers to modify to waive certain waiting periods required under the Truth in Lending Act (TILA) and the Real...more

Troutman Pepper

Five Things You Need To Know - CFPB Issues Interpretive Rule Addressing COVID-19 Impact on TRID and Reg Z Waiver Requirements

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Earlier last week, the Consumer Financial Protection Bureau issued an interpretive rule intended to “make it easier for consumers with urgent financial needs to obtain access to mortgage credit more quickly in the middle of...more

Patton Sullivan Brodehl LLP

Can a Loan Modification Waive the Borrower’s Right of Reinstatement?

Loans secured by a deed of trust typically provide that upon default (commonly, missed interest payments) the lender may elect to “accelerate” the loan, making the entire balance of principal and interest due....more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending February 7, 2020

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Real Property Update - Fraudulent Transfer: Real property that was worth less than mortgage encumbering it was not an asset per the plain language of section 726.102(2) and, therefore, could not support fraudulent transfer...more

Spilman Thomas & Battle, PLLC

2018 West Virginia Legislative Session, the WVCCPA and the West Virginia Safe Mortgage Licensing Act

The 2018 West Virginia legislative session was a busy one regarding consumer finance law. Legislators focused on the West Virginia Consumer Credit and Protection Act and the West Virginia Safe Mortgage Licensing Act. The West...more

Snell & Wilmer

Nevada Supreme Court Clarifies the Litigation Waiver of the One-Action Rule

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Nevada has a one-action rule which, with limited exceptions, requires a creditor seeking to recover a debt secured by real property to proceed against the security first prior to seeking recovery from the debtor personally....more

Burr & Forman

Burr Alert: This Old Waiver? I’ve Had it for Years

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The Georgia Supreme Court has further eroded the viability of the Georgia confirmation statute with its recent decision in York v. RES-GA LJY, LLC. In York, the Supreme Court affirmed the lower court’s application of last...more

Ballard Spahr LLP

Financial institution agencies provide guidance to help alleviate appraiser shortage

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The federal banking agencies together with the National Credit Union Administration (the “Agencies”) issued an Interagency Advisory on the Availability of Appraisers that is intended to help address the real estate appraiser...more

Carlton Fields

Divided Third Circuit Panel Holds That Waiver Of Arbitration Clause Does Not Apply To Futile Arguments

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On July 13, 2016, a U.S. Court of Appeals for the Third Circuit panel held that an arbitration clause is not waived simply because a party failed to raise a futile argument. The case arose out of a putative class action...more

Burr & Forman

Burr Alert: Dead Letter Office: The Final Repose of the Georgia Confirmation Statute?

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In what might be viewed as the last nail in the coffin for Georgia’s confirmation statute, the Georgia Supreme Court’s recent opinion in PNC Bank, National Association v. Smith affirms that a lender may contract around the...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

European Commission Unveils Tax Transparency Package - The European Commission has laid out its plans in a new Tax Transparency Package to clamp down on tax deals made between EU governments and multi-national...more

Williams Mullen

Money, Dirt & Steel: 2014-2015 NC Real Property Litigation Update

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A snapshot of noteworthy cases from the past year related to lending practices, property rights and construction in North Carolina. Money - Lending: Comprehensive waiver language in loan workout...more

Troutman Pepper

Prepetition Stay Waivers: Which Way Is The Wind Blowing?

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In re Triple A & R Inv., Inc., 519 B.R. 581 (Bankr. D. P.R. 2014) – A mortgagee moved for relief from the automatic stay based on the debtor’s prepetition consent to stay relief.  The debtor argued that a prepetition waiver...more

Snell & Wilmer

Nevada Supreme Court Determines That Guarantor Cannot Waive Right to Receive a Notice of Default, but Substantial Compliance With...

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Schleining v. Cap One, Inc., 130 Nev. Adv. Op. 36 (May 29, 2014), arises out of a loan to purchase an undeveloped piece of property, which was guaranteed by the principal of the borrower. After the borrower defaulted, the...more

Snell & Wilmer

Unmitigated Waivers: Guarantors Remain Liable Despite 4-Year Delay in Foreclosure Sale

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If a lender delays foreclosure allowing years of default interest to accrue such that a guarantor’s obligation increases from $6 million to $12 million, should the guarantor remain on the hook for the full $12 million? In...more

Spilman Thomas & Battle, PLLC

SuperVision Today: 4th Quarter 2013

In This Issue: - Federal Contractors Should be Planning Ahead for the New Section 503 and VEVRAA Rules - Putting the Pieces Together: How the ACA Impacts Health Reimbursement and Flexible Spending Arrangements ...more

Clark Hill PLC

Arizona Anti-Deficiency Protection Cannot Be Waived

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The Arizona appellate courts continue to reinforce Arizona's anti-deficiency law by finding that a prospective waiver of anti-deficiency protections violates public policy and is prohibited. ...more

Winstead PC

Court Upheld A Waiver Of Property Code Rights And Affirmed A Deficiency Judgment Based On The Foreclosure Price

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In New Millennium Homes, Inc. v. Texas Community Bank, NA, a debtor appealed a summary judgment granted to a lender based on a deficiency claim. No. 09-12-00073-CV, 2013 Tex. App. LEXIS 1598 (Tex. App.—Beaumont February 21,...more

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