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Mortgages › Coronavirus/COVID-19 › Loan Modifications

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 -
Orrick, Herrington & Sutcliffe LLP

CFPB rescinds COVID-related protections under RESPA Regulation X

Orrick, Herrington & Sutcliffe LLP on

On May 16, the CFPB published a Federal Register notice withdrawing its COVID-19-era mortgage servicing protections for borrowers. The CFPB identified two reasons for rescinding this measure: first, the rule was intended to...more

Bradley Arant Boult Cummings LLP

CFPB Rescinding the 2021 COVID-19 Mortgage Servicing Final Rule

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On May 15, 2025, the Consumer Financial Protection Bureau (CFPB) filed an interim final rule in the Federal Register that will rescind its prior 2021 COVID-19 mortgage servicing final rule. The interim final rule is set for...more

Goodwin

CFPB Proposes Amendments to Regulation X to Prevent Wave of COVID-19 Foreclosures

Goodwin on

On April 5, 2021, the Consumer Financial Protection Bureau (CFPB) issued a press release and proposed rule requesting public comment on proposed amendments to Regulation X which “would establish a temporary COVID-19 emergency...more

K&L Gates LLP

COVID-19: Revenue Procedure 2021-12 Extension Of Treatment Of Mortgage Loan Forbearances And Modifications For Mortgage Loans In...

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Throughout the United States, periodic and ongoing businesses closures and disruptions continue to occur in response to the coronavirus (COVID-19) pandemic. The resulting economic distress has affected borrowers, including...more

Bradley Arant Boult Cummings LLP

Mortgage Servicing in the Age of COVID-19: Post Forbearance

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On page 8 of the September–October issue, we discussed the COVID-19 forbearance landscape and related compliance challenges for mortgage servicers. In this article, we unpack the post-forbearance world, focusing on the...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights: Issue 6, September 2020

Spilman Thomas & Battle, PLLC on

Morrisey, Other AGs Reach $330 Million Agreement with Student Loan Company - "West Virginia Attorney General Patrick Morrisey and 47 other attorneys general have reached a $330 million, multistate agreement with a student...more

Orrick, Herrington & Sutcliffe LLP

REMICs, Mortgage Loan Modifications and COVID-19

Orrick, Herrington & Sutcliffe LLP on

This memorandum discusses certain tax considerations in connection with forbearances, waivers and other modifications with respect to a mortgage loan that is held by a REMIC or about to be contributed to a REMIC, in light of...more

Harris Beach Murtha PLLC

New York State Addresses Residential Mortgage Forbearance Procedures

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Newly enacted Banking Law 9-x, signed by New York Gov. Andrew Cuomo on June 17, 2020, provides certain financial institutions with a directive to address mortgage forbearances and repayment of deferred amounts granted during...more

Holland & Knight LLP

IRS Provides Relief for Securitized Mortgage Loan Modifications Anticipated from COVID-19

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The Internal Revenue Service (IRS) issued Revenue Procedure 2020-26 on April 13, 2020, providing relief to certain securitization vehicles, including investment trusts and real estate mortgage investment conduits (REMICs),...more

Akerman LLP

Regulatory Guidance for Banks, Lenders, and Licensed Mortgage Originators Regarding Coronavirus (UPDATED)

Akerman LLP on

(New information added on April 17, 2020) - As the coronavirus crisis unfolds, federal and state financial services regulatory agencies have taken multiple actions impacting banks, non-bank financial service providers, and...more

Ballard Spahr LLP

New York DFS Urges Suspension of Foreclosures and Deferral of Mortgage Payments

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On March 19, 2020, the New York Department of Financial Services (NYDFS) issued guidance to urge all regulated and exempt mortgage servicers to alleviate the adverse impact caused by COVID-19 on mortgage brokers who...more

Seyfarth Shaw LLP

Key Considerations for Commercial Mortgage Loan Modifications

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Whether you are a lender, loan servicer, borrower or guarantor, there are many aspects to consider - under normal circumstances - when modifying a commercial mortgage loan. As COVID-19 continues to impact the commercial real...more

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