New York’s amended mortgage loan servicer regulations are a substantial departure from previous versions and could go beyond federal rules. Our Financial Services & Products Group delves into technicalities and ramifications...more
The New York Department of Financial Services (“NYDFS”) has issued final mortgage servicer business conduct rules found in Part 419 of the Superintendent’s Regulations....more
A&B ABstract: In a final rule issued on October 10, 2019, the CFPB amended Regulation C under the Home Mortgage Disclosure Act to incorporate exemptions created by the Economic Growth, Regulatory Relief, and Consumer...more
A&B ABstract:
A new rule from the federal banking regulators reduces the number of residential mortgage transactions for which an appraisal is required. ...more
A&B Abstract:
The Summer 2019 edition of the CFPB’s Supervisory Highlights indicates recent examination focuses for several categories of consumer credit products....more
A&B Abstract: With recent and forthcoming changes to federal valuation requirements, the Appraisal Foundation is considering the development of standards for performing evaluations in the USPAP....more
A&B Abstract -
This blog post is part three of a five-part series examining the Consumer Financial Protection Bureau’s (the “CFPB” or “Bureau”) proposed rule amending Regulation F (“Proposed Rule”), which implements the...more
A&B Abstract:
North Carolina is the latest state to extend the protections of the federal Servicemembers Civil Relief Act (“SCRA”), 50 U.S.C. §§ 3901 et seq., to active duty members of its National Guard. ...more
Maine is joining the ranks of states whose requirements for mortgage servicers may exceed those of the CFPB’s Mortgage Servicing Rules. Effective September 19, Senate Paper 415 (2019 Me. Laws 363) creates a mortgage servicer...more
SECURITIZATION SIDE NOTES – EU Risk Retention: Did This Come with a Gift Receipt? We’d Like to Return It -
A new year brings new laws and regulations into effect, in this case a complicated and confusing gift from our...more
On May 24, 2018, the President signed the Economic Growth, Regulatory Relief, and Consumer Protection Act into law. A product of rare bipartisanship, the Regulatory Relief Act makes modest reforms to the Dodd–Frank Wall...more
The Appraisal Subcommittee of the Federal Financial Institutions Examination Council (ASC) issued its anticipated final rule providing for collection and transmission of the appraisal management company (AMC) annual national...more
On September 29, 2015, the Multi-State Mortgage Committee (MMC) and Conference of State Bank Supervisors (CSBS) issued an industry bulletin – Supervisory Expectations Regarding the Use of Electronic Examination Tools –...more