A&B ABstract:
In response to COVID-19, on Friday March 28, 2020, President Trump signed into law the “Coronavirus Aid, Relief, and Economic Security Act” (the “CARES Act”). This is a monumental $2 trillion stimulus...more
3/31/2020
/ Banking Sector ,
Banks ,
CARES Act ,
Coronavirus/COVID-19 ,
Credit Reports ,
Eviction ,
Fair Credit Reporting Act (FCRA) ,
Financial Services Industry ,
Financial Stimulus ,
Forbearance Agreements ,
Foreclosure ,
Moratorium ,
Mortgage Lenders ,
Relief Measures
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
A&B ABstract: Effective March 5, 2020, New York Assembly Bill 5626 (“AB 5626”) regulates the origination and servicing of the federal U.S. Department of Housing and Urban Development (“HUD”) home equity conversion mortgages...more
A&B Abstract:
Maryland’s inspection fee statute has been interpreted by the Maryland Court of Appeals and the Maryland Office of the Commissioner of Financial Regulation (“OCFR”) to apply both at the time of origination...more
A&B Abstract: In an effort to incent large depository institutions to return to FHA lending, the U.S. Department of Housing and Urban Development (“HUD”) and the U.S. Department of Justice (“DOJ”) entered into a Memorandum...more
A&B ABstract: The South Carolina Department of Consumer Affairs (“Department”) announced that it is soliciting comments on proposed Regulation 28-75, which would provide mortgage lenders with additional guidance on the...more
A&B Abstract: In a series of 2019 settlement agreements, the Massachusetts Attorney General has publicly provided insights into her compliance expectations for residential mortgage servicers. ...more
It’s hot out there and the market’s even hotter! Cool off with the latest issue of the Structured Finance Spectrum, our newsletter featuring what’s new and newsworthy in structured finance.
...more
A&B Abstract:
Effective October 1, 2019, the Maryland Commissioner of Financial Regulation will impose new net worth requirements on licensees. ...more
A&B Abstract: Effective October 1, 2019 only Connecticut licensed attorneys can conduct real estate closings in the state for certain mortgage loan transactions....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
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