News & Analysis as of

CARES Act Mortgages Financial Institutions

McGlinchey Stafford

Third Circuit Illustrates Federal Court Presumption for Exercising Concurrent Jurisdiction

McGlinchey Stafford on

Arsenis v. M&T Bank is a tale of two cases. The bank brought an action against Ms. Arsenis to foreclosure on a mortgage loan in New Jersey Superior Court. Through a combination of defenses and counterclaims in the foreclosure...more

Nutter McClennen & Fish LLP

Nutter Bank Report: February 2021

HUD, VA, and USDA Coordinate Extensions of COVID-19 Relief for Homeowners - The U.S. Department of Housing and Urban Development (HUD), the U.S. Department of Veterans Affairs (VA), and the U.S. Department of Agriculture...more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: CFPB Announces Results of its Prioritized Assessments of CARES Act and Other Borrower Protections in Light of...

On January 19, 2021, the Consumer Financial Protection Bureau (CFPB or Bureau) published a special edition of its Supervisory Highlights focused on its COVID-19 Prioritized Assessments. As Cadwalader previously wrote, the...more

Troutman Pepper Locke

Oregon Banks and Trade Association File Declaratory Action Requesting Relief from State Legislation Alleged to be Retroactively...

Troutman Pepper Locke on

On August 13, 2020, the Oregon Bankers Association (“OBA”) and three Oregon-chartered banks filed a Complaint for declaratory and injunctive relief against the State of Oregon, Oregon’s Attorney General, and the Director of...more

Bradley Arant Boult Cummings LLP

Oregon Passes Mandatory Forbearance Law

On June 30, 2020, Oregon joined D.C., Massachusetts, and New York in passing state-specific COVID-19 mortgage assistance programs into law. This new law further confuses the patchwork quilt of compliance issues for mortgage...more

Goodwin

Financial Services Weekly Roundup: Code Libor – SEC And OCIE Issue Risk Alert In Preparation Of Libor Discontinuation

Goodwin on

In This Issue. The Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert about the scope and content of examinations OCIE plans to conduct of various...more

Holland & Knight LLP

IRS Provides Relief for Securitized Mortgage Loan Modifications Anticipated from COVID-19

Holland & Knight LLP on

The Internal Revenue Service (IRS) issued Revenue Procedure 2020-26 on April 13, 2020, providing relief to certain securitization vehicles, including investment trusts and real estate mortgage investment conduits (REMICs),...more

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