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
A June 19, 2018, decision by the North Carolina Court of Appeals will likely make it more difficult for borrowers in the Tar Heel State to sue on the claim that their mortgage originator misled them as to their home’s value....more
A recent appeal to the Fourth Circuit may shed light on whether Virginia borrowers can assert federal mortgage servicing requirements as a defense to foreclosure when the mortgage instrument pre-dates the federal requirement....more
2/21/2018
/ Appeals ,
Borrowers ,
Consent Order ,
Deed of Trust ,
Dodd-Frank ,
Foreclosure ,
Mortgage Lenders ,
Mortgage Loan Originators ,
Mortgage Loan Servicing Standards ,
Mortgage Servicers ,
Mortgages ,
Retroactive Application ,
VA Supreme Court
Acme Bank has a problem. Acme loaned $480,000 for the purchase of a beach house on Sullivan’s Island, South Carolina, securing the debt with a recorded mortgage. Six months ago, the bank received a letter from the county tax...more