On May 20, 2025, the New York Court of Appeals agreed to hear constitutional challenges to one aspect of New York’s Foreclosure Abuse Prevention Act (FAPA). ...more
5/27/2025
/ Action to Quiet Title ,
Appeals ,
Borrowers ,
Constitutional Challenges ,
Due Process ,
Estoppel ,
Foreclosure ,
Judicial Authority ,
Lenders ,
Mortgage Lenders ,
Mortgages ,
Property Owners ,
Retroactivity ,
Standing ,
Statute of Limitations
With the change in administration, enforcement actions at the federal level are expected to decrease, reflecting President Trump’s focus on deregulation. Indeed, during President Trump’s first term, the number of enforcement...more
3/14/2025
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Deregulation ,
Enforcement Actions ,
Enforcement Statistics ,
Fair Credit Reporting Act (FCRA) ,
Fair Lending ,
Federal Trade Commission (FTC) ,
Mortgage Servicers ,
Mortgages ,
Predatory Lending ,
Redlining ,
Reverse Mortgages ,
Trump Administration
On September 12, 2024, New York’s highest court dismissed an appeal challenging the constitutionality of the retroactive application of the Foreclosure Abuse Prevention Act (“FAPA”), a law that amended certain New York...more
Welcome to the Mortgage Origination and Servicing chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
Enforcement efforts are expected to increase in 2024 and will...more
Over a year after becoming law, New York’s Foreclosure Abuse Prevention Act, L. 2022, ch. 821 (eff. Dec. 30, 2022) (FAPA) continues to divide trial courts regarding the constitutionality of the law’s retroactive...more
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
7/7/2023
/ Borrowers ,
Constitutional Challenges ,
Consumer Financial Products ,
Financial Services Industry ,
Foreclosure ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
New Legislation ,
Regulatory Reform ,
Rules of Civil Procedure ,
Statute of Limitations
On May 1, 2023, the Consumer Financial Protection Bureau (CFPB) issued a report and a proposed rule to clarify and strengthen its regulation of so-called Property Assessed Clean Energy (PACE) financing.
PACE financing is...more
5/5/2023
/ Comment Period ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Enforcement Actions ,
Financing ,
Homeowners ,
Loan Applications ,
Loans ,
Mortgages ,
Proposed Rules ,
Regulation Z ,
Tax Liens ,
Truth in Lending Act (TILA)