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Mortgages › Banks › Mortgage Lenders

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 -
Ballard Spahr LLP

Federal Judge rejects request to release ESSA Bank from redlining settlement

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A federal judge has rejected the Trump Administration’s request to release from court supervision a bank that had been accused of discriminatory lending....more

Sheppard Mullin Richter & Hampton LLP

DOJ Moves to End $13 Million Redlining Consent Order

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On May 28, the U.S. Department of Justice filed a motion to terminate its redlining consent order against a New Jersey-based bank. The five-year order, entered in September 2022, resolved allegations that the banks violated...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

Ballard Spahr LLP

CFPB Adjusts HMDA Asset Exemption Threshold

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The CFPB recently issued a final rule increasing the asset exemption threshold under the Home Mortgage Disclosure Act (HMDA)....more

Orrick, Herrington & Sutcliffe LLP

NYDFS introduces regulation to supervise mortgage bankers, community credit access

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On December 17, NYDFS introduced a new regulation, NEW 3 NYCRR 120, Compliance with Banking Law Section 28-bb, which would require nonbank mortgage bankers in New York State to collect and report data related to home loans to...more

Orrick, Herrington & Sutcliffe LLP

New Jersey Attorney General investigation reveals bank’s mortgage redlining

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On October 29, the New Jersey Office of the Attorney General and Division on Civil Rights released investigatory findings concluding that a bank engaged in a pattern of redlining Black, Hispanic and Asian communities in New...more

Hinshaw & Culbertson - Consumer Crossroads

Tips on Using a Settlement Conference RJI to Show CPLR 3215(c) Compliance in New York Foreclosure Actions

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In New York civil actions, where a defendant fails to answer the complaint, the next step is usually a motion for a default judgment pursuant to CPLR 3215. However, in residential mortgage foreclosure actions, the plaintiff...more

Troutman Pepper Locke

New Jersey Attorney General Releases Report on Republic First Bank’s Unlawful Redlining Practices

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On October 29, New Jersey Attorney General Matthew Platkin and the state’s Division on Civil Rights (DCR) released a report detailing the findings of a multi-year investigation into Republic First Bank (Republic) and its...more

Orrick, Herrington & Sutcliffe LLP

DOJ, HUD resolve redlining claims with New Jersey-based bank

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On September 17, the DOJ and HUD announced a settlement with a New Jersey-based bank to resolve “redlining” lending discrimination allegations. The DOJ’s complaint claimed that from 2018 through at least 2022, the bank failed...more

Katten Muchin Rosenman LLP

Basel III Endgame: Will Banks Have to Increase Their Capital Requirements?

Katten Muchin Rosenman LLP on

On Tuesday, September 10, the Federal Reserve announced a reproposal of the much discussed and awaited Basel III Endgame. However, before we dive into the reproposal, it is important to take a step back and look at how we got...more

GeoDataVision

How to Minimize Compliance Risk in the Radical New “Modern” Redlining Era

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As any bank professional regulatory compliance professional knows redlining is the hottest issue today and has been since Attorney General Merrick Garland announced the “Combatting Redlining Initiative” in October 2021. Since...more

GeoDataVision

“Manufactured” Redlining

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In a recent article in National Mortgage Professional entitled "Manufacturing Fair Lending”, former chief of the Housing and Civil Enforcement Section at the Department of Justice under Attorney General William Barr, Paul...more

Brownstein Hyatt Farber Schreck

FHFA Asks for Input on FHLBanks

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In May 2024, the Federal Housing Finance Agency (FHFA) published a Request for Input (RFI) titled “Federal Home Loan Bank Core Mission Activities and Mission Achievement” with comments due to the FHFA on July 15, 2024. This...more

GeoDataVision

“Figures don’t lie” but do regulators figure? Simpson’s Paradox says so

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In emails in recent months we've warned bankers about the extremely aggressive enforcement of anti-redlining policies. This is becoming more and more obvious every day as more banks get threatened with referral to the DOJ....more

GeoDataVision

Is Fair Lending Enforcement Fair Today?

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Every banker should know by now that the Department of Justice announced an “Anti-Redlining” crusade in October 2021. In his October 2021, press release, Attorney General Merrick Garland, proclaimed that redlining is...more

Troutman Pepper Locke

DOJ Comments Reveal Road Ahead for Mortgage Redlining

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For the last two years, the federal regulatory agencies have been waging a war on redlining by mortgage lenders — a war that shows no signs of abating. Originally published in Law360 - December 12, 2023....more

Nutter McClennen & Fish LLP

Nutter Bank Report: February 2024

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The U.S. Department of Justice (DOJ) and state authorities have agreed to a consent order with a large national bank to resolve allegations that the bank engaged in a pattern or practice of lending discrimination by affecting...more

GeoDataVision

The Potentially Adverse Fair Lending Implications of the New CRA Rule

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There has been much understandable handwringing about the new CRA and its complexity as well as the high CRA exam failure rate predicted by regulators based on the new assessment areas and the higher performance standards...more

GeoDataVision

What is a “REMA” and why is it so important?

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As I write this article the Department of Justice is pursuing a record-breaking number of “redlining” cases against banks and mortgage lenders. The “Anti-redlining Initiative” was announced October 22, 2021, by Attorney...more

Troutman Pepper Locke

DOJ Reaches $1.15 Million Redlining Settlement With American Bank of Oklahoma

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On August 28, the U.S. Department of Justice (DOJ) announced its eighth redlining settlement under its Combatting Redlining Initiative. The settlement between the DOJ and the American Bank of Oklahoma, which originated from a...more

Hudson Cook, LLP

CFPB Bites of the Month - July 2023 - Freedom, Independence, and Celebration From the CFPB

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In this month's article, we share some of our top "bites" for the prior month covered during the July 2023 webinar. Bite 10: Public Inquiry Launched into Credit Card and Loan Products for Healthcare Costs - On July 7,...more

Troutman Pepper Locke

Superior Court Upholds Connecticut Department of Banking’s Decision Imposing a $750,000 Fine on a Mortgage Lender for its...

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On April 19, the Superior Court of Connecticut issued an opinion affirming the Connecticut Department of Banking’s (DOB) decision to issue a $750,000 fine against a mortgage lender for allowing its unlicensed employees to...more

Nelson Mullins Riley & Scarborough LLP

Crossing the “The”: The Importance of Careful Drafting for Recorded Mortgages

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In Enter. Bank v. The Ingros Fam. LLC, et al., 2022 WL 2283392 (Bankr. W.D. Pa. June 23, 2022), a lender faced a potentially costly decision when it mistakenly left the word “The” from a borrower’s name. In Ingros, First...more

Bradley Arant Boult Cummings LLP

Regulatory Review, Reformatted

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As 2021 runs in search of what’s new, we realize that the pandemic disruption has continued through 2021. The NMLS Ombudsman Meeting was held virtually and the upcoming American Association of Residential Mortgage Regulators...more

Ballard Spahr LLP

New York amends its Community Reinvestment Act to cover non-bank mortgage lenders; New York DFS issues proposed revisions to CRA...

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Expansion of CRA coverage. On November 1, New York Governor Hochul signed into law amendments (S.5246-A/A.6247-A) to the New York Community Reinvestment Act (NYCRA) that expand the NYCRA’s coverage to non-depository mortgage...more

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