What Happened? The lender and consumers reached a settlement in an appraisal bias case, Nathan Connolly and Shani Mott v. Shane Lanham, 20/20 Valuations, LLC, and loanDepot.com, LLC, filed in Maryland District Court, that...more
4/26/2024
/ Appraisal ,
Bias ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Dodd-Frank ,
Fair Housing Act (FHA) ,
Fair Valuation ,
Lenders ,
Loan Applications ,
Mortgage Lenders ,
Mortgages ,
Settlement
What Happened? Immediately following President Biden’s State of the Union Address announcing plans to lower homebuyer and refinancing costs, the CFPB issued a blog post seeking public input on how mortgage closing costs...more
A&B Abstract: In Case You Missed It: At the recent Federal Housing Finance Agency’s Symposium on Property Insurance, CFPB Director Rohit Chopra spoke about force-placed insurance and conveyed the following message: “The...more
The U.S. Supreme Court ruling ending race-based admissions at colleges and universities could have a ripple effect on unrelated fields. Our Financial Services & Products Group explores how the Harvard decision could change...more
10/11/2023
/ Affirmative Action ,
Banking Sector ,
Community Reinvestment Act ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Discrimination ,
Financial Institutions ,
Financial Services Industry ,
Lenders ,
Loans ,
Minorities ,
Mortgage Lenders
A&B ABstract: Last week, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion to address the applicability of the Real Estate Settlement Procedures Act (RESPA)’s Section 8 – the anti-kickback provision –...more
A&B Abstract: On August 10, 2022, the Federal Housing Finance Agency (“FHFA”) announced that Fannie Mae and Freddie Mac (the “GSEs”) will require mortgage servicers to obtain and maintain fair lending data on their loans,...more
A&B Abstract: On July 27, 2022, the Consumer Financial Protection Bureau (“CFPB”) and the US Department of Justice (“DOJ”) entered into a settlement with Trident Mortgage Company (“Trident”), resolving allegations under the...more
As part of the Biden Administration’s stated focus on narrowing the racial gap in wealth and homeownership, federal agencies launched an Interagency Task Force on Property Appraisal and Valuation Equity (PAVE), with the goal...more
3/17/2022
/ Appraisal ,
Biden Administration ,
Congressional Committees ,
Consumer Financial Protection Bureau (CFPB) ,
Fannie Mae ,
Freddie Mac ,
HUD ,
Lenders ,
Mortgage Lenders ,
Mortgages ,
Race Discrimination ,
Regulation Z ,
Residential Real Estate Market ,
Veterans Administration
Please join Alston & Bird's consumer finance attorneys and an economist from Charles River Associates as they discuss new legal and practical approaches to fair lending, fair valuations, and fair servicing. This program will...more
1/21/2022
/ Appraisal ,
Appraisal Management Companies ,
Best Practices ,
Bias ,
Continuing Legal Education ,
Fair Lending ,
Fair Valuation ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
Real Estate Transactions ,
Risk Mitigation ,
Webinars