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Loans Mortgages Fees

Sheppard Mullin Richter & Hampton LLP

DFPI Orders Mortgage Lender to Pay $2.3 Million for Per Diem Interest Overcharges

On August 18, the California Department of Financial Protection and Innovation (DFPI) announced a $2.3 million settlement with a former mortgage lender and servicer for alleged violations of the California Residential...more

Alston & Bird

Pennsylvania: What is a Bona Fide Discount Point?

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What Happened? Effective August 29, 2026, Pennsylvania enacted House Bill 1103 (the “Bill”) impacting discount points on residential mortgage loans by making amendments to Pennsylvania’s usury code (the Loan Interest and...more

Orrick, Herrington & Sutcliffe LLP

CFPB study examines cash-out refinancing and nonmortgage debts

On January 24, the CFPB published a report titled “Cash-Out Refinances and Paydown Behavior of Non-mortgage Debt Balances,” which examined the use of proceeds by borrowers who obtained cash-out refinancing between 2014 and...more

Ballard Spahr LLP

VA proposes changes to loan reporting and guaranty loss rules

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The U.S. Department of Veterans Affairs (VA) recently proposed rules to modify the requirements for the reporting of VA guaranteed mortgage loans, and the rules regarding when the VA would assert a defense for a partial or...more

Ballard Spahr LLP

VA Documentation Requirements for Allowable Fees

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In Circular 26-24-19, the Department of Veterans Affairs (VA) sets forth documentation requirements for fees and charges that may be imposed on veterans in connection with VA-guaranteed home loans, other than the VA funding...more

Alston & Bird

Structured Finance Spectrum - Summer 2024

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Welcome to the latest edition of the Spectrum, covering hot-topic issues in the structured finance markets in the U.S. and UK. This edition features the new UK securitization regime, eHELOCs, and climate risk disclosures....more

Troutman Pepper Locke

CFPB Probing Alleged “Junk Fees” in Mortgage Closing Costs

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On May 30, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a request for information (Request) regarding alleged “junk fees” in closing costs charged by mortgage lenders and related settlement service...more

Ballard Spahr LLP

VA Proposes Supplemental Refinance Loan Rule

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As previously reported, in November 2022 the Department of Veterans Affairs (VA) issued a proposal to update its rules for interest rate reduction refinancing loans (often referred to as “IRRRLs”) to conform with VA loan...more

Sheppard Mullin Richter & Hampton LLP

CFPB 2022 Loan Data: Decrease in Originations; Increase Loan Payments, Fees

On September 27, the CFPB released its annual report on residential mortgage lending activity and trends for 2022. Under the Home Mortgage Disclosure Act (HMDA), the CFPB requires financial institutions to collect and provide...more

Alston & Bird

District Courts Split on Convenience Fees Under Debt Collection Laws

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A&B ABstract: In a number of recent decisions, district courts have split on the issue of whether a mortgage servicer violates the Fair Debt Collection Practices Act (“FDCPA”) and related state debt collection statutes by...more

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 9.14.16

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Following news of Starboard Value’s plan to shake things up at Perrigo, we have this take from Breakingviews, which suggests that fending off a hostile takeover (as Perrigo did from Mylan) tends to “make fertile turf for an...more

Spilman Thomas & Battle, PLLC

Financial Institutions and Creditors’ Rights: Ninth Circuit Finds SCRA Liability Based on Prior Servicer’s Actions

The Servicemembers Civil Relief Act (“SCRA”) was signed into law in 2003, greatly expanding prior legislation in order to better assist servicemembers in avoiding default and foreclosure while they are on active duty. The...more

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