What is an Appraisal?
With the recent developments at the Consumer Financial Protection Bureau (CFPB), many mortgage lenders have been left wondering about the extent to which the CFPB will enforce federal laws governing the mortgage lending...more
Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •AG James Secures Insulin Price Cap for New Yorkers from...more
On May 1, 2023, the Consumer Financial Protection Bureau (CFPB) issued a report and a proposed rule to clarify and strengthen its regulation of so-called Property Assessed Clean Energy (PACE) financing. PACE financing is...more
The CFPB proposed a rule establishing consumer protections for residents securing Property Assessed Clean Energy (PACE) loans, which are typically utilized by homeowners to cover clean energy home improvement costs such as...more
The Federal Housing Administration recently issued Mortgagee Letter 2022-23, establishing a new COVID-19 Home Equity Conversion Mortgage Property Charge Repayment Plan. The COVID-19 HECM Property Charge Repayment Plan would...more
In December, Senate Banking Committee Chairman Sherrod Brown (D-OH), along with Senators Tina Smith (D-MN) and Ron Wyden (D-OR) sent a letter to the FTC and the CFPB requesting a review of a Florida-based real estate...more
At the close of this month, certain moratoria on foreclosures and evictions are set to lift. While prior deadlines have been extended, it remains to be seen whether another continuance will be granted amidst an increase in...more
March 13, 2021, marked the one-year anniversary of President Trump's declaring COVID-19 a national emergency. Through the CARES Act, agency action and guidance, and various state laws and executive orders, governments across...more
Contract Interpretation McCruter v. Travelers Home & Marine Ins. Co., 11th Dist. Lake No. 2019-L-167, 2021-Ohio-472- In this appeal, the Eleventh Appellate District affirmed in part and reversed in part the lower court’s...more
On November 19, 2020, the Oregon Housing and Community Services Department (OHCS) announced a $20 million fund called the Oregon Homeowner Stabilization Initiative (OHSI) to help homeowners who are behind on their mortgage...more
Bricker & Eckler LLP congratulates Greater Cincinnati Energy Alliance (GCEA) on a record-breaking year in Property Assessed Clean Energy (PACE) financing transactions. In 2019, GCEA has closed 24 PACE loans valued at nearly...more
Homeowners in Summit, Franklin and Lucas Counties will soon have access to low-interest loans for energy efficiency improvements through property assessed clean energy (PACE) financing. In Summit County, the City of Barberton...more
The Federal Reserve Board’s proposed Bank Holding Company Act and Home Owners’ Loan Act control regulations, published in late April, are the culmination of a long-promised initiative by Board officials to bring clarity to a...more
We frequently represent clients who have engaged in some type of transaction with his or her spouse during the marriage that inadvertently causes them to lose certain rights to property unknowingly. This often happens in the...more
Two homeowners tried to rescind their home mortgage loan when they weren’t notified that the deed of trust had been assigned. Although this argument may have been a creative way to stave off a foreclosure, it was not...more
On February 25, 2016 the Supreme Court of California in Gaines v. Fidelity National Title Insurance Company, et al. (Court of Appeal B244961, Superior Court Case BC361768), affirmed the lower courts’ holdings that a partial...more
REAL PROPERTY UPDATE - Foreclosure/Documentary Stamp Tax: deferred interest on a “pick-a-payment” mortgage did not amount to future advance, which would have required payment of documentary stamp tax - Steinberg v. Wells...more
Appellate Court Advance Release Opinions - AC36506 - Sidorova v. East Lyme Board of Education - Due to budget cuts, the Board of Education laid off the plaintiff who was a tenured French teacher. She sued for...more