News & Analysis as of August 13, 2025

Compliance

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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 +

Navigating Loan Default: Practical Strategies for Borrowers

Kohrman Jackson & Krantz LLP on 7/23/2025

Commercial mortgage delinquency rates are on the uptick. The United States economy is shrinking according to Commerce Department measurements. Economic volatility is the new norm. As borrowers navigate economic ebbs and...more

Fannie Mae Issues Guidance in Response to New York Foreclosure Abuse Prevention Act

Alston & Bird on 3/21/2024

What Happened? On March 13, 2024, Fannie Mae issued Servicing Guide Announcement (SVC-2024-02) (the “Announcement”), which announced, among other things, updates to Fannie Mae’s Loan Modification Agreement (Form 3179), with...more

CFPB Report on Mortgage Servicers Examines Industry Responses After Pandemic Protections End

Sheppard Mullin Richter & Hampton LLP on 5/23/2022

On May 16, the CFPB released a report examining metrics on mortgage servicers’ responses to the COVID-19 pandemic. According to the report, homeowners are still facing significant risks and challenges in working with...more

CFPB Warns Mortgage Servicers: Unprepared is Unacceptable

Perkins Coie on 4/6/2021

The CFPB issued a compliance bulletin on April 1st warning mortgage servicers to take all necessary steps to prevent a wave of foreclosures this fall. The CFPB advised that beginning with the expiration of the federal...more

COVID Law Imposes Forbearance and Loss Mitigation Requirements

McGlinchey Stafford on 6/23/2020

On June 17, 2020, Governor Andrew Cuomo signed S8428/A10530 and S8243-C/A10351-B into law. Collectively, in relevant part, the legislation creates N.Y. Banking Law § 9-x, which relates to residential forbearances as a result...more

EBA Consults on its Benchmark Rate Under the MCD

Orrick - Finance 20/20 on 10/20/2015

The Mortgage Credit Directive (2014/17/EU) (MCD) requires that creditors create two illustrative examples for variable rate mortgages on the basis of a benchmark rate specified by the EBA. Consequently, the EBA has developed...more

New Landmark Consumer Disclosure Rules Trigger Privacy Concerns

Robinson+Cole Data Privacy + Security Insider on 10/14/2015

The Consumer Financial Protection Bureau’s new “Know Before You Owe” mortgage disclosure rule is designed to prevent surprises at the closing table, but with increased transparency come concerns over borrower and seller...more

Florida Court Confirms Substantial Compliance Standard Concerning Foreclosures

Carlton Fields on 10/6/2015

The Florida Second District Court of Appeal recently issued a long-awaited opinion in Green Tree Servicing v. Milam. Until this decision, the district courts in Florida had not spoken directly on the issue of whether strict...more

Real Property, Financial Services & Title Insurance Update: Weeks Ending July 31 & August 7, 2015

Carlton Fields on 8/11/2015

Foreclosure: non-borrower owner of real property as tenants-in-common with borrower not required to sign mortgage for borrower to encumber only his interest in the property and non-borrower’s signature on mortgage reflected...more

Locke Lord QuickStudy: CFPB Claims Sensitivity on Good-Faith TRID Compliance Efforts

Troutman Pepper Locke on 6/9/2015

On June 3, 2015, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray responded to Congressional requests and industry pleadings for a grace period in enforcing the new TILA-RESPA Integrated Disclosures...more

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