What Happened? On June 30, 2025, California Governor Gavin Newsom signed into law, with an immediate effective date, California Assembly Bill 130, a significant housing bill that, notably renders certain mortgage servicer...more
What Happened? As we previously advised you, in 2024, the Maryland Appellate Court in Estate of H. Gregory Brown v. Carrie M. Ward, et al., No. 1009, (App. Ct. Sept. Term 2023), ruled that a statutory trust that held a...more
Our Financial Services Group reviews the Maryland Secondary Market Stability Act, which overrides the Office of Financial Regulation’s requirement that passive trusts holding Maryland loans in residential mortgage-backed...more
In a highly anticipated and welcome development, on April 22, 2025, Maryland Governor Wes Moore signed into law the Maryland Secondary Market Stability Act of 2025 (emergency measures HB 1516 and its companion SB 1026) with...more
What Happened? A development with far-reaching consequences for the secondary market, on January 10, 2025, the Maryland Office of Financial Regulation (“OFR”) issued guidance that requires mortgage trusts and their assignees...more
Welcome to the latest edition of the Spectrum, covering hot-topic issues in the structured finance markets in the U.S. and UK. This edition features the shifting single-family rental landscape, what’s next for EDGAR, and...more
2/22/2024
/ Basel III ,
Beneficial Owner ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Corporate Transparency Act ,
Creditors ,
EDGAR ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Housing Market ,
Interest Rates ,
Investment ,
Limited Liability Company (LLC) ,
Liquidity ,
Loans ,
Mortgages ,
Qualified Mortgage Rule ,
Real Estate Investments ,
Rental Property ,
Securities and Exchange Commission (SEC) ,
Securitization ,
Structured Finance ,
Syndicated Loans
The originators of residential mortgage loans are inconsistent in meeting the “consider” requirement under the revised qualified mortgage rules. Our Financial Services & Products Group offers guidance for creditors looking to...more
Welcome to the latest edition of the Spectrum, covering hot-topic issues in the structured finance markets in the U.S. and UK. This edition features smooth sailing through safe harbors, the English Court doing the cross-class...more
8/9/2023
/ Banking Sector ,
Bankruptcy Court ,
Banks ,
Borrowers ,
Consumer Financial Products ,
Consumer Lenders ,
Credit Facilities ,
Debt Restructuring ,
Debtors ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Lenders ,
Loans ,
Mortgages ,
Safe Harbors
A&B Abstract - The second observance of the Juneteenth National Independence Day (Juneteenth) holiday is Monday, June 20, 2022. ...more
Creditors will need to remember to take into account the newly recognized Juneteenth holiday when serving notice to consumers. Our Financial Services & Products Group explains this sudden new dynamic and what it means for the...more
Somehow, the qualified mortgage (QM) rules have become even more complicated. Our Financial Services & Products Group parses how the death of the QM Patch will affect creditors seeking to originate residential mortgage loans...more
The qualified mortgage (QM) rules have become a world of contradictions. Our Financial Services & Products Group investigates how the residential mortgage markets can thread the needle between new rulings from Fannie Mae and...more
With a change in Administration, the Consumer Financial Protection Bureau changes its mind about qualified mortgage rules for residential mortgages. Our Financial Services & Products Group reviews how the Biden CFPB’s...more
A&B ABstract - On December 15, 2020, New York State enacted legislation amending the New York Real Property Law that would have placed various restrictions and requirements on the servicing of Home Equity Conversion Mortgages...more
A&B ABstract: On December 10, 2020, the Consumer Financial Protection Bureau (CFPB) issued an innovative final rulemaking that creates a pathway to “safe harbor” Qualified Mortgage (QM) status for performing non-QM and...more
A&B ABstract: In a significant final rulemaking with potentially far-reaching consequences for the residential mortgage markets, the Consumer Financial Protection Bureau (“CFPB”) is terminating the “QM Patch” and...more
A&B ABstract: A recent letter from Consumer Financial Protection Bureau (“CFPB”) Director Kathleen Kraninger provides clues about the potential future of the so-called “QM Patch.”...more
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:
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:
What happens when a proposed qualified mortgage is later discovered to have points and fees in excess of the statutory threshold? ...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.
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A&B Abstract: With the January 2021 expiration of the so-called “QM Patch” looming, what courses of action are available to the CFPB?...more
Sometimes common sense rules the day. Our Financial Services & Products Group discusses a case of first impression in Ohio that will allow the mortgage industry to rely on the Consumer Financial Protection Bureau’s...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
PRACTITIONER NOTES – Frankenstein’s Monster? Rosemary’s Baby? The Twins from the Shining? How Lenders are thinking about the Delaware Division Statute and Division LLCs -
Recent amendments to the Delaware LLC Act (the...more