Fair Lending Shake-Ups: CFPB Vacates Townstone Settlement, FHFA Ends GSEs' Special Purpose Credit Programs — The Consumer Finance Podcast
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Law Brief®: Robert Wolf, Alexander Tiktin and Richard Schoenstein Discuss the Continuing Foreclosure/Eviction Moratorium
Credit Eco to Go Podcast - Not a Normal Mortgage Crisis: How the Mortgage Industry Weathered the Pandemic
Not a Normal Mortgage Crisis: How the Mortgage Industry Weathered the Pandemic
The UK Financial Conduct Authority (FCA) has published final policy statement PS25/11, accompanied by a press release, finalising the first set of reforms under the Mortgage Rule Review (MRR). These changes aim to simplify...more
On May 14, 2025, Governor Brian Kemp signed Georgia House Bill 15 into law. House Bill 15, which will take effect on July 1, 2025, will implement several major changes to Georgia’s residential mortgage licensing law, the...more
Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) submitted several regulatory proposals to the Office of Management and Budget (OMB) for review. Among the rules under consideration are those related to...more
What Happened? As we previously advised you, in 2024, the Maryland Appellate Court in Estate of H. Gregory Brown v. Carrie M. Ward, et al., No. 1009, (App. Ct. Sept. Term 2023), ruled that a statutory trust that held a...more
As we reported previously, the Maryland Office of Financial Regulation (“OFR”) issued emergency regulations this past January which indicated that passive trusts holding residential mortgage loans, even those used as part of...more
The FCA issued a consultation paper on 7 May 2025 seeking feedback on regulatory proposals to simplify advice rules and affordability assessments for mortgages, making it easier, faster and cheaper for consumers to make...more
Following a March 2025 press release and letter to the Economic Secretary to the Treasury announcing plans to improve access to mortgages to support the government’s economic growth mission, the FCA has published a ‘first...more
In January 2025, the Maryland Office of Financial Regulation (the “OFR”) issued a guidance stating that assignees of residential mortgage loans, including certain passive trusts, were required to hold a Maryland mortgage...more
Shortly after Mayer Brown published an update on legislation introduced to exempt passive trusts and other assignees of certain Maryland loans from licensing, Governor Wes Moore signed the legislation into law. The Maryland...more
Our Financial Services Group reviews the Maryland Secondary Market Stability Act, which overrides the Office of Financial Regulation’s requirement that passive trusts holding Maryland loans in residential mortgage-backed...more
In a highly anticipated and welcome development, on April 22, 2025, Maryland Governor Wes Moore signed into law the Maryland Secondary Market Stability Act of 2025 (emergency measures HB 1516 and its companion SB 1026) with...more
The CFPB confirmed in a recent memo to staff that it is shifting its tone on supervision and enforcement—even as reports circulate about significant staffing cuts and potential structural changes at the agency. ...more
The UK Financial Conduct Authority (FCA) has published a consultation on proposed amendments to the Prudential Regulation Authority's (PRA) rulebook and FCA guidance on the de minimis threshold for the loan to income flow...more
On March 19, 2025, the Federal Housing Administration (FHA) issued Mortgagee Letter (ML) 2025-08 titled “Rescinding Multiple Appraisal Policy Related Mortgagee Letters.” As the title suggests, FHA rescinded three mortgagee...more
The blacklisting of condominium/condo associations by financial institutions and insurance providers has emerged as a pressing issue in the real estate finance and housing sector. This practice, which involves lenders or...more
On March 12, Arkansas enacted HB 1466 which amends the state’s Fair Mortgage Lending Act. HB 1466 introduces a set of definitions and regulatory requirements for mortgage brokers, bankers, servicers, loan officers, and...more
In the six months since New York’s governor signed the Foreclosure Abuse Prevention Act, L. 2022, ch. 821 (eff. Dec. 30, 2022) (FAPA), a split has emerged about whether the law applies retroactively....more
In December, the New York governor signed A 7737-B, the “Foreclosure Abuse Prevention Act,” which amends the rights of parties in foreclosure actions....more
On May 12, 2015 Senator Richard Shelby (R-AL) released a draft of a regulatory reform bill entitled the Financial Regulatory Improvement Act of 2015. The draft bill addresses various residential mortgage lending issues, a...more