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Mortgages › Banking Sector › Loans

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
A&O Shearman

PRA to review Loan to Income flow limit rule and offers interim modification by consent

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The Prudential Regulation Authority (PRA) has announced it will be reviewing the Loan to Income (LTI) flow limit requirements, following the Financial Policy Committee's (FPC) recommendation, as stated in its July financial...more

Hogan Lovells

English Supreme Court holds that the Etridge protocol applies to hybrid loan transactions

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Lenders in the retail market will be familiar with the Etridge protocol, which (in summary) requires them to ensure that the guarantor of a loan must first obtain independent legal advice, in order to minimise the risk that...more

GeoDataVision

Former Senator: Bankers Can’t Be Passive About Proposed CRA Rule Rollback

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Yesterday, as I was writing this article the news broke about the regulators deciding they intend to rescind the 2023 CRA rule. My first reaction was to toss this article in the “trash” folder. But upon further reflection I...more

Orrick, Herrington & Sutcliffe LLP

OCC reports improved mortgage performance in Q4 2024

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On March 24, the OCC published its Mortgage Metrics Report for the fourth quarter of 2024. The Report analyzed the performance of first-lien residential mortgage loans serviced by seven national banks in the U.S. As of...more

Ballard Spahr LLP

Led by California MBA, five banks provide mortgage relief for fire victims

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Led by the California Mortgage Bankers Association, five lenders have made commitments to provide mortgage relief for the victims of the California wildfires....more

Orrick, Herrington & Sutcliffe LLP

DOJ, CFPB file complaint, propose order against mortgage company for alleged redlining

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On October 15, the CFPB and DOJ announced an enforcement action against a mortgage company, alleging it engaged in redlining against majority-Black neighborhoods in the greater Birmingham, Alabama area. According to the...more

Alston & Bird

Structured Finance Spectrum - Summer 2023

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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 smooth sailing through safe harbors, the English Court doing the cross-class...more

McGlinchey Stafford

HUD Implements 40-Year Loan Modification Option

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On March 8, 2023, the Department of Housing and Urban Development (HUD) published a final rule allowing mortgagees to modify a Federal Housing Administration (FHA) insured mortgage by recasting the total unpaid loan for a new...more

Goodwin

The CARES Act: What Banks Need to Know

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Recognizing the critical role that banks and other financial institutions play in providing capital and liquidity to American businesses and consumers, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the...more

Ballard Spahr LLP

House Financial Services Committee schedules Oct. 11 mark-up of “Madden fix” bill

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Among the more than 20 bills that the House Financial Services Committee is scheduled to mark-up this Wednesday, October 11, is a bill to provide a “Madden fix” as well as several others relevant to consumer financial...more

Troutman Pepper Locke

OCC's High-LTV Bulletin Is a Win for Banks and Consumers

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Since the financial crisis, it has been difficult for consumers and developers to obtain mortgages to buy and build in the areas most hurt by the recession. The Office of the Comptroller of the Currency (OCC) has...more

Skadden, Arps, Slate, Meagher & Flom LLP

Federal Reserve Board Seeks Public Comment on Alternatives to LIBOR

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The U.S. Federal Reserve Board is requesting public comment on proposed plans for the Federal Reserve Bank of New York and the Office of Financial Research to publish three new reference rates intended as alternatives to the...more

Ballard Spahr LLP

Recent MRB Administrative Actions Highlight that Minutiae Matters to HUD

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On April 4, 2017, the Mortgagee Review Board (MRB) of the U.S. Department for Housing and Urban Development (HUD) published an entry in the Federal Register titled "Mortgagee Review Board: Administrative Actions." The entry...more

Ballard Spahr LLP

CFPB identifies 2017 priorities in annual fair lending report

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In its new annual report covering its fair lending activities during 2016, the CFPB identifies the following three areas on which it “will increase our focus” in 2017...more

Ballard Spahr LLP

CFPB proposes alignment of Regulation B and Regulation C requirements regarding collection of consumer ethnicity and race...

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On March 24, the CFPB announced a proposal to amend Regulation B requirements related to the collection of consumer ethnicity and race information, in order to resolve the differences between Regulation B and revised...more

Ballard Spahr LLP

Maryland Issues Revised Proposed Rules for Servicing Transfers

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The Maryland Commissioner of Financial Regulation recently issued a revised proposed regulation impacting servicing transfers. The Commissioner previously issued proposed regulations on this topic in January 2015. This...more

Troutman Pepper Locke

OCC Establishes New Third-Party Risk Management Expectations, Including for Bank Relationships With Marketplace Lenders

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The bulletin requires relationships between banks and marketplace lenders to be treated with the same rigor of due diligence and ongoing oversight as other relationships with third parties. On January 24, the Office of...more

Smith Debnam Narron Drake Saintsing & Myers,...

CFPB Monthly Report Spotlights Mortgage Products

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The CFPB has issued its monthly complaint report and is shining its spotlight on mortgage products. The Monthly Complaint Report provides a high level snap shot of trends in consumer complaints, using a three month rolling...more

Bradley Arant Boult Cummings LLP

Preparing for FHA PACE: What Mortgagees Need To Know Before September 17

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The U.S. Department of Housing and Urban Development (HUD) and Federal Housing Administration (FHA) issued Mortgagee Letter 2016-11, which specifically permits properties encumbered with a Property Assessed Clean Energy...more

Ballard Spahr LLP

FHFA Will Exclude Language Preference Question From New URLA

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The Federal Housing Finance Agency (FHFA) has updated the industry on its progress in making changes to the Uniform Residential Loan Application (URLA). FHFA restated that their goal has been to finalize the new URLA by the...more

Burr & Forman

Florida's Fourth DCA Confirms that a Borrower is in the Best Position to Know Their Own Financial Information

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The Fourth District Court of Appeal recently affirmed its prior decision in Vidal v. Liquidation Properties, Inc., 104 So. 3d 1274 (4th DCA 2013). Wells Fargo Bank, N.A. v. Hilary A. Williamson, Case No. 4D15-285, 2016 WL...more

Ballard Spahr LLP

FHA and VA to Expand Coverage to Properties with Certain PACE Assessments

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The Federal Housing Administration (FHA) has announced guidance intended to clarify circumstances under which residential properties encumbered by a Property Assessed Clean Energy (PACE) special assessment would be eligible...more

Burr & Forman

Did the Fourth Circuit Just Create a Cause of Action for “Unconscionable Inducement” Under West Virginia Law?

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In McFarland v. Wells Fargo Bank, N.A., 14-2126 (4th Cir. Jan. 15, 2016), the Fourth Circuit Court of Appeals examined the argument that a loan was substantively unconscionable because it vastly exceeded the worth of the...more

BakerHostetler

CFPB Releases Fall 2015 Report Touting Recovery of Millions Through Supervisory Actions

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On November 3, the Consumer Financial Protection Bureau (CFPB) released its fall 2015 supervisory report concerning enforcement actions from May 2015 through August 2015. The Bureau highlights violations in the mortgage...more

Burr & Forman

TRID: New Requirements for Real Estate Closing Disclosures Are Here, Will There be A Grace Period?

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It’s finally here. Over the weekend, the Consumer Financial Protection Bureau’s (CFPB) long awaited and oft delayed integration of the disclosures required by the Federal Truth in Lending Act (TILA) and Real Estate...more

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