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Mortgages Department of Housing and Urban Development Financial Institutions

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

HUD reverses course and eliminates eligibility of Non-Permanent U.S. Residents for FHA Loans

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In the waning hours of the first Trump Administration the U.S. Department of Housing and Urban Development (HUD) announced that effective January 19, 2021 individuals who are classified under the “Deferred Action for...more

Troutman Pepper Locke

FHFA Director Pulte Terminates Mortgage-Related Special Purpose Credit Programs for GSEs

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In a significant policy shift under the Trump administration, the new Federal Housing Finance Agency (FHFA) Director Bill Pulte issued an order on March 25, 2025 terminating special purpose credit programs (SPCPs) supported...more

Orrick, Herrington & Sutcliffe LLP

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

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

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - July 2024 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Sheppard Mullin Richter & Hampton LLP

HUD Updates Home Equity Conversion Rules for Purchases

On April 26, the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2024-06, announcing changes to the Home Equity Conversion Mortgages (HECMs) for purchases (H4P loans), a mortgage program...more

Nutter McClennen & Fish LLP

Nutter Bank Report: February 2021

HUD, VA, and USDA Coordinate Extensions of COVID-19 Relief for Homeowners - The U.S. Department of Housing and Urban Development (HUD), the U.S. Department of Veterans Affairs (VA), and the U.S. Department of Agriculture...more

Tucker Arensberg, P.C.

Cares Act Mortgage Forbearances: Where is the Peak?

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On April 16, 2020, Black Knight Inc., a leading provider of mortgage and lending analytics, reported that 5.5% or 2.9 million homeowners have entered into CARES Act Forbearance Plans. As of May 7, 2020, Black Knight Services...more

Harris Beach Murtha PLLC

COVID-19 Mortgage Forbearance Available to Fannie Mae and Freddie Mac Multifamily Property Owners

As part of the federal government COVID-19 economic mitigation response, the Federal Housing Finance Authority (FHFA) has announced that Fannie Mae and Freddie Mac will offer mortgage forbearance to multifamily property...more

Morrison & Foerster LLP

Patchwork Of Coronavirus (COVID-19) Mortgage And Rent Forbearance Efforts Creates Challenges For Mortgage Lenders And Servicers

As consumers and businesses face ever-worsening financial conditions in the wake of the COVID-19 pandemic, federal agencies and some states and localities have stepped in to provide foreclosure and eviction relief. Not...more

Seyfarth Shaw LLP

FHFA and GSEs Issue Guidance on Assistance to Renters and Borrowers Impacted by COVID-19

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On March 24, 2020, in response to the growing anticipation that renters in multifamily properties are being negatively impacted by the implications of the Coronavirus Disease 2019 (“COVID-19”), the Federal Housing Finance...more

Akerman LLP

Foreclosure Holds Impacting Statute Of Limitations

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The COVID-19 crisis has led to foreclosure moratoriums at the regulatory, executive, and judicial level. Servicers should consider that compliance with these, regardless of level, may not protect them from later challenges to...more

Mitchell, Williams, Selig, Gates & Woodyard,...

HUD Suspends Filing of New Foreclosures and Proceeding with Current Foreclosures in Nationwide Response to Coronavirus

U.S. Department of Housing and Urban Developers (HUD)-approved lenders take note – the filing of new foreclosures and proceeding with current foreclosures has been suspended by HUD for the next sixty (60) days, beginning...more

Morgan Lewis - All Things FinReg

Foreclosures and Evictions Temporarily Suspended for Fannie and Freddie Mortgages

The Federal Housing Finance Agency (FHFA) and the US Department of Housing and Urban Development (HUD) announced on March 18 that they have directed Fannie Mae and Freddie Mac, the government sponsored enterprises (GSEs), to...more

Ballard Spahr LLP

Fannie, Freddie, and HUD Suspend Foreclosures and Evictions; Fannie and Freddie Announce Further Measures

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As previously reported, on March 18, 2020, the Federal Housing Finance Agency directed Fannie Mae and Freddie Mac to suspend foreclosures and evictions in connection with single-family mortgages for at least 60 days, and...more

Lowndes

HUD and FHA Announce Foreclosure Moratoriums

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Effective immediately, the U.S. Department of Housing and Urban Development (HUD) has issued a moratorium on all foreclosures of FHA-insured single family homes for the next sixty days (through May 17, 2020)....more

Goodwin

Financial Services Weekly News - September 2016 #2

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Editor's Note - In this edition. The NYDFS proposed a cybersecurity regulation governing New York-chartered banks and insurance companies, the OCC released its bank supervision priorities in its annual supervision...more

Ballard Spahr LLP

Appellate Court Holds HUD Regulations Don’t Provide Private Right of Action Unless Incorporated into Written Agreement

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A federal appeals court recently decided that a plaintiff could not assert a claim against the issuer of a reverse mortgage for breach of regulations issued by the U.S. Department of Housing and Urban Development (HUD), when...more

Ballard Spahr LLP

CFPB issues 2015 fair lending report

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The CFPB has issued a report covering its fair lending activities during 2015.  The report states that in 2015, CFPB fair lending supervisory and public enforcement actions required institutions to provide approximately $108...more

Baker Donelson

TRID's Closing Disclosure

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On October 3, 2015, the new TILA-RESPA Integrated Disclosures Rule (TRID) went into effect. The rule sought to streamline and clarify some of the overlapping and confusing language on the two different disclosure forms...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

Morrison & Foerster LLP

Financial Services Report, Fall 2015

BELTWAY - Straight Out of the Seventh Circuit The Seventh Circuit recently affirmed a lower court’s ruling that the SEC cannot be sued in district court to stop it from bringing an administrative action. Bebo v. SEC, No....more

Burr & Forman

TRID: New Mortgage Loan and Real Estate Closing Disclosure Requirements Already Causing Headaches

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The long heralded TILA/RESPA Integrated Disclosures (TRID) are coming, and they are already causing some headaches in the real estate market. Congress provided for the new disclosures in the 2010 Dodd-Frank Wall Street Reform...more

Ballard Spahr LLP

Florida Court of Appeals Reverses Foreclosure of Reverse Mortgage by Expanding the Definition of “Borrower” to Include Surviving...

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Home equity conversion mortgages, commonly known as “reverse mortgages” are popular loan products in Florida. In order to foreclose on a reverse mortgage, the lender generally must allege that all conditions necessary to...more

Carlton Fields

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

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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

Bilzin Sumberg

Wells Fargo Ends Marketing Services Arrangements with Builders

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Concerned about “increasing uncertainty surrounding regulatory oversight of these types of arrangements,” Wells Fargo is ending all of its roughly 200 mortgage marketing services and desk rental agreements with builders and...more

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