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Financial Distress Housing Market

DarrowEverett LLP

Aging Florida Condos Provide Developers With Strategic Opportunities

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In the wake of the 2021 Surfside condominium collapse, Florida enacted sweeping changes that affect condominium governance, structural maintenance requirements, and reserve funding obligations. These changes have not only...more

Akerman LLP

Federal Judge Strikes Down CDC's Eviction Moratorium

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A federal judge for the District of Columbia issued a decision on May 5 striking down the Centers for Disease Control and Prevention's (CDC) nationwide eviction moratorium....more

Mayer Brown

Federal Housing Agencies and GSEs Announce Updates to COVID-19 Relief Measures for Mortgage Loan Borrowers

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In recent weeks, the US federal housing agencies and government-sponsored enterprises (GSEs) that insure, guarantee, or purchase “federally backed mortgage loans” covered by Section 4022 of the CARES Act (Act) have continued...more

Ballard Spahr LLP

Fannie Mae Updates Guidance on the Limiting of Servicing Advance Obligations

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In a prior alert, we reported that in view of the ability of mortgage loan borrowers to obtain payment forbearances under the CARES Act, the Federal Housing Finance Agency (FHFA) limited the advance obligation of Fannie Mae...more

Ballard Spahr LLP

For Borrowers with a Forbearance, Fannie Mae and Freddie Mac Address their Eligibility for New Loans

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On May 19, 2020, Fannie Mae in an update to Lender Letter 2020-03 and Freddie Mac in Bulletin 2020-17 announced temporary eligibility requirements for new purchase and refinance transactions involving borrowers affected by...more

Morgan Lewis - All Things FinReg

FHFA Announces Extension on Moratorium on Foreclosures and Evictions; Provides New COVID-19 Forbearance Payment Deferral Repayment...

The Federal Housing Finance Agency (FHFA) announced on May 14 that Fannie Mae and Freddie Mac (the GSEs) are extending their moratorium on foreclosures and evictions until at least June 30, 2020. ...more

Morgan Lewis

COVID-19: What Servicers Should Know About Managing Mortgage Loan Forbearances

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Federal and state regulators and Congress continue to release new guidance and requirements to assist mortgage borrowers facing economic hardships resulting from the coronavirus (COVID-19) pandemic. ...more

Burr & Forman

GSEs are Now Able to Purchase Loans in Forbearance — to Some Extent

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On April 22, 2020, the Federal Housing Finance Agency announced that it is allowing Fannie Mae and Freddie Mac (the “GSEs”) to purchase loans that go into forbearance within the first month after closing. Previously, the GSEs...more

Robins Kaplan LLP

Financial Daily Dose 4.21.2020 | Top Story: Oil Prices Dip to Negative as Global Demand Dries Up During Pandemic

Robins Kaplan LLP on

Monday saw U.S. oil prices take an unprecedented plunge into negative territory, as “concerns grew that storage tanks in the United States were near capacity and unable to hold all the unused code” (with the “bizarre movement...more

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