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Shipman & Goodwin LLP

Workouts That Work: Strategic Alternatives to Foreclosure

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Our new insightful and informative series, “Protecting Lenders: Strategic Responses to Borrower Default," is designed to provide comprehensive guidance on managing borrower defaults effectively. This four-part series covers...more

Mayer Brown

Bankruptcy Court Denies Stay Relief Thereby Preventing Enforcement of Deed in Escrow Transaction

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In a recent opinion and order, the US Bankruptcy Court for the Southern District of Illinois denied a secured lender’s motion for relief from the automatic stay in order for the lender to record a deed being held in escrow...more

Perkins Coie

Certain Foreclosure Moratoria Set to Lift on July 31

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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

Goodwin

House Votes to Repeal OCC True Lender Rule

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In This Issue. The House of Representatives voted to pass a Congressional Review Act resolution repealing the Office of the Comptroller of the Currency’s (OCC) “true lender” rule; the Consumer Financial Protection Bureau...more

Moore & Van Allen PLLC

The Future After Forbearance: What’s Next?

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The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) requires lenders on all government-backed loans to provide forbearance agreements on residential loan payments for a period of 180 days to any borrower that...more

McGlinchey Stafford

Florida and Texas Extend Borrower Protections Through September

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Florida’s Governor Desantis has extended Executive Order Number 20-180 to 12:01 a.m. on October 1, 2020. The Executive Order, titled “Limited Extension of Mortgage Foreclosure and Eviction Relief” provides, in relevant part: ...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights: Issue 3, July 2020

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Welcome! Welcome to the new format of All Consuming . We listened to the feedback. A newsletter filled with long articles gives the detailed information some are looking for but becomes another thing that others have to...more

Goodwin

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

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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

White and Williams LLP

Debt Forbearance/Settlement Agreements: One of the Most Important and Often Overlooked Clauses

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The economic impact of the global COVID-19 pandemic will likely result in a considerable number of borrower defaults, workouts and debt restructurings. An often overlooked but significant consequence of debt modifications or...more

Skadden, Arps, Slate, Meagher & Flom LLP

Summary of 28th Annual Conference on Fair Lending and Consumer Financial Protection

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Year In Review - Anand Raman, the head of Skadden’s Consumer Financial Services (CFS) practice, began the conference by providing a summary of notable events and trends over the past year relating to consumer financial...more

Goodwin

Financial Services Weekly Roundup: May Introduces Additions And Expansions To Covid-19-related Policies

Goodwin on

In This Issue. The Board of Governors of the Federal Reserve System (Federal Reserve) expanded access to its Paycheck Protection Program Liquidity Facility (PPPLF) to non-bank lenders and expanded the collateral eligible to...more

Seyfarth Shaw LLP

Massachusetts (Finally) Passes Eviction and Mortgage Foreclosure Moratorium Legislation Due to the COVID-19 State of Emergency

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More than a month after Governor Charlie Baker declared a state of emergency arising from the novel coronavirus in the Commonwealth of Massachusetts on March 10, 2020, the “COVID-19 Emergency Declaration,” the state...more

Buchalter

Buchalter Client Alert COVID-19: Why am I Thinking About Forbearance?

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Our lender clients will be soon dealing with some of the likely economic impacts of the coronavirus. When quarterly financial statements are issued, many compliance certificates will reflect violations of financial...more

Seyfarth Shaw LLP

Summary of Federal and State Governmental Developments Pertaining to Loan Forbearance and Lease Enforcement in Response to...

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Since March 13, 2020, the U.S. has been operating under a declared state of emergency in response to the spread of COVID-19, with many state and local governments issuing their own emergency rules and regulations designed to...more

Seyfarth Shaw LLP

A Recap of Federal Loan Program Developments Affecting Commercial Real Estate

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This week saw a plethora of activity to support federally related loan programs affecting commercial real estate. Below is a summary of the applicable guidance, announcements and proposed laws....more

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