A law recently passed by the New York State Assembly and signed by Gov. Kathy Hochul puts significant limits on the flood insurance that lenders can require borrowers to purchase on loans secured by residential real property....more
1/27/2025
/ Compliance ,
Consumer Financial Products ,
FEMA ,
Financial Institutions ,
Financial Services Industry ,
Flood Insurance ,
Insurance Industry ,
Mortgage Lenders ,
Mortgages ,
New Legislation ,
Risk Management
The Federal Financial Institutions Examination Council (FFIEC) has issued a joint statement emphasizing the need for lenders and servicers to include cyber insurance in their risk management program. Although the FFIEC did...more
Winning a deficiency judgment following foreclosure may become less costly for lenders following a May 5 ruling by the North Carolina Supreme Court in United Community Bank v. Wolfe. Reversing a previous ruling by the Court...more