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Banking Sector Mortgages Mortgage Lenders

Blank Rome LLP

Executive Summary – New York Regulation and Disclosure – What Mortgage Applicants Need to Know

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A new law in New York took effect on June 11, 2025, requiring banking organizations, licensed lenders, and mortgage bankers provide a disclosure pamphlet titled “What Mortgage Applicants Need to Know” (the “Pamphlet”)....more

Hudson Cook, LLP

CFPB Bites of the Month - April 2025 - "I'll Remember April and the CFPB"

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In this month's article, we share some of our top "bites" covered during the April 2025 webinar....more

Orrick, Herrington & Sutcliffe LLP

OCC reports improved mortgage performance in Q4 2024

On March 24, the OCC published its Mortgage Metrics Report for the fourth quarter of 2024. The Report analyzed the performance of first-lien residential mortgage loans serviced by seven national banks in the U.S. As of...more

Alston & Bird

Consumer Finance State Roundup - March 2025

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The latest edition of the Consumer Finance State Roundup highlights recently enacted measures of potential interest from two states: California: Effective January 1, California Assembly Bill 3108 addresses mortgage fraud. ...more

Ballard Spahr LLP

Led by California MBA, five banks provide mortgage relief for fire victims

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Led by the California Mortgage Bankers Association, five lenders have made commitments to provide mortgage relief for the victims of the California wildfires....more

Sheppard Mullin Richter & Hampton LLP

Texas Passes Law Expanding Mortgage Borrower Protections

Effective November 23, 2024, the Texas Department of Savings and Mortgage Lending (the “DSML”) adopted new rules affecting mortgage loan companies, mortgage bankers, individual residential mortgage loan originators, and...more

Orrick, Herrington & Sutcliffe LLP

CFPB proposes final judgment addressing discriminatory practices in mortgage lending

On November 1, the CFPB filed a proposed stipulated final judgment and order against a nonbank retail-mortgage creditor and broker based in Chicago, which, if approved by the court, would prohibit the defendant from engaging...more

Orrick, Herrington & Sutcliffe LLP

New Jersey Attorney General investigation reveals bank’s mortgage redlining

On October 29, the New Jersey Office of the Attorney General and Division on Civil Rights released investigatory findings concluding that a bank engaged in a pattern of redlining Black, Hispanic and Asian communities in New...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 50: Navigating California’s Mortgage Landscape

Hosts Jerry Buckley and Sherry Safchuk sit down with Susan Milazzo, the CEO of the California Mortgage Bankers Association (CMBA), to discuss the current state and future of mortgage banking in California. As the voice of the...more

Orrick, Herrington & Sutcliffe LLP

DOJ, HUD resolve redlining claims with New Jersey-based bank

On September 17, the DOJ and HUD announced a settlement with a New Jersey-based bank to resolve “redlining” lending discrimination allegations. The DOJ’s complaint claimed that from 2018 through at least 2022, the bank failed...more

McGlinchey Stafford

New York Court Finds Mortgage Loan Made to Corporate Entity is “Consumer Credit Transaction” Under Truth in Lending Act

McGlinchey Stafford on

On July 8, 2024, the United States District Court for the Eastern District of New York held that a mortgage loan from a private lender was within the scope of the Truth in Lending Act (TILA) and Home Ownership and Equity...more

Orrick, Herrington & Sutcliffe LLP

FHFA approves Freddie Mac's second mortgage pilot

On June 20, FHFA conditionally approved a limited pilot program for Freddie Mac to begin purchasing certain single-family closed-end second mortgages. This decision came after implementing a new approval process for products...more

Orrick, Herrington & Sutcliffe LLP

Ohio allows dual capacity in real estate transactions

Recently, the Ohio Division of Financial Institutions released a letter to repeal prior guidance banning mortgage professionals from acting as both a mortgage professional and a real estate agent in the same transaction. This...more

Nutter McClennen & Fish LLP

Nutter Bank Report: February 2024

The U.S. Department of Justice (DOJ) and state authorities have agreed to a consent order with a large national bank to resolve allegations that the bank engaged in a pattern or practice of lending discrimination by affecting...more

Orrick, Herrington & Sutcliffe LLP

FHFA releases comprehensive report of entire FHLBank system

On November 7, the FHFA released a report titled “FHLBank System at 100: Focusing on the Future,” providing a comprehensive overview of the Federal Home Loan Banks (FHLBank) system in its entirety. ...more

Sheppard Mullin Richter & Hampton LLP

CFPB Publishes New Report on State Community Reinvestment Laws

On November 2, the CFPB issued a new report on state Community Reinvestment Act laws. The report found that many states adopted Community Reinvestment Acts (CRAs) similar to the federal Community Reinvestment Act of 1977. The...more

Cooley LLP

Federal, State Agencies Promote Expanded Oversight of Bank and Nonbank Community Development Activities

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On November 2, 2023, the Consumer Financial Protection Bureau (CFPB) issued a survey on state Community Reinvestment Acts (CRAs) aimed at informing states without CRAs about actions they could take to promote lending and...more

Nutter McClennen & Fish LLP

Nutter Bank Report: September 2023

The CFPB has published guidance about compliance with Regulation B, which implements the Equal Credit Opportunity Act (ECOA), when lenders deliver denial notices based on underwriting decisions using artificial intelligence...more

Nutter McClennen & Fish LLP

Nutter Bank Report: July 2023

The Federal Reserve has announced that its FedNowSM Service, a new interbank settlement service with clearing functionality to support instant payments, went live on July 20 with 35 early-adopting banks and credit unions. The...more

Brownstein Hyatt Farber Schreck

FHFA Commits to Flexible Timeline for Transitioning Credit Score Model Validation

Stemming from the Federal Housing Finance Agency’s (FHFA) 2019 validation and approval of credit score models final rule, the FHFA announced in October 2022 that Fannie Mae and Freddie Mac, the government-sponsored...more

Troutman Pepper Locke

Superior Court Upholds Connecticut Department of Banking’s Decision Imposing a $750,000 Fine on a Mortgage Lender for its...

Troutman Pepper Locke on

On April 19, the Superior Court of Connecticut issued an opinion affirming the Connecticut Department of Banking’s (DOB) decision to issue a $750,000 fine against a mortgage lender for allowing its unlicensed employees to...more

Goodwin

Federal Reserve Announces Results From the Review of the Supervision and Regulation of SVB

Goodwin on

Regulatory Developments - Federal Reserve Announces Results From the Review of the Supervision and Regulation of SVB - On April 28, the Federal Reserve released its report analyzing SVB’s failure (Report). The Report...more

Nutter McClennen & Fish LLP

Nutter Bank Report: April 2023

FDIC and OCC Issue Guidance on Authorize Positive, Settle Negative Overdraft Fee Risks. The FDIC and the OCC each have issued supervisory guidance on consumer compliance risk exposure related to the assessment of overdraft...more

Orrick, Herrington & Sutcliffe LLP

FHFA updates GSE equitable housing finance plans

On April 5, FHFA announced updates to Fannie Mae and Freddie Mac’s (GSEs) equitable housing finance plans for 2023. The updates include adjustments to plans first announced last year, which faced pushback from several...more

Orrick, Herrington & Sutcliffe LLP

FHFA expands deferral policies for hardships

On March 29, FHFA announced enhanced payment deferral policies for borrowers facing financial hardships. Under the newly enhanced policies, Fannie Mae and Freddie Mac will allow borrowers to defer up to six months of mortgage...more

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