Mortgages, Interest Rates, Consumer Financial Products

UK Mortgage Rule Review: FCA takes first step in introducing targeted flexibilities into the regulatory framework

Hogan Lovells on 7/29/2025

The FCA has finalised the changes that were proposed in May this year to make it easier for customers to engage with mortgage providers and make reductions to mortgage terms and remortgaging easier. This includes removing the...more

CFPB will reportedly continue to update Average Prime Offer Rate tables

Orrick, Herrington & Sutcliffe LLP on 2/14/2025

On February 11, it was reported that, despite the temporary halt in the CFPB’s operations, the Bureau’s tables for the Average Prime Offer Rate (APOR) will continue to be updated weekly by the CFPB. A Bureau spokesperson...more

CFPB publishes data spotlight on mortgage costs and interest rates

Orrick, Herrington & Sutcliffe LLP on 9/26/2024

On September 17, the CFPB published a data spotlight examining the impact of mortgage interest rates on housing affordability. Mortgage rates significantly rose from 2.65 percent in January 2021 to a high of 7.79 percent in...more

National Bank Preemption of State Law Following Cantero

Troutman Pepper Locke on 6/21/2024

On May 30, the U.S. Supreme Court unanimously decided Cantero, reaffirming and elaborating on the Barnett Bank preemption standard, and remanding the case to the Second Circuit for further proceedings. Cantero addressed...more

Kansas Governor Enacts Significant Changes to Kansas Mortgage Business Act and Uniform Consumer Credit Code

Troutman Pepper Locke on 5/22/2024

Kansas Governor Laura Kelly signed House Bill (HB) 2247 into law, bringing significant changes to the Kansas Mortgage Business Act and the Uniform Consumer Credit Code (UCCC). The changes brought about by HB 2247 will largely...more

Chopra calls for resilience and durability in mortgage rules

Orrick, Herrington & Sutcliffe LLP on 5/25/2023

On May 17, CFPB Director Rohit Chopra announced that the agency is currently reviewing several of its rules and guidance documents in an effort to eliminate unnecessary complexities and create “more durable rules that don’t...more

TPA Tricks of the Trade: A Lawyer’s Perspective

Dinsmore & Shohl LLP on 4/18/2023

Borrowers who go through the process of obtaining an FHA-insured multifamily loan generally come to the same conclusion: the juice is worth the squeeze. At the end of the day, they get to enjoy a unique blend of benefits (35...more

CFPB revises APOR methodology

Orrick, Herrington & Sutcliffe LLP on 4/17/2023

On April 14, the CPFB announced a revised version of its Methodology for Determining Average Prime Offer Rates (APORs). APORs are a series of benchmark APRs derived from the average interest rates and other loan pricing terms...more

CFPB discusses mortgage financing risk options in current environment

Orrick, Herrington & Sutcliffe LLP on 1/6/2023

On December 21, the CFPB reported that higher mortgage interest rates have led to increased monthly payments and higher debt-to-income ratios for borrowers. ...more

That's 'Interest'ing May 2022 - A Primer on Interest Rate Caps

Cadwalader, Wickersham & Taft LLP on 5/31/2022

When the interest rate on a mortgage financing is not fixed, the amount that a borrower may be required to pay may fluctuate depending on changes in the underlying index to which the “margin” or “spread” is tied. While a...more

New SDNY Order & Legislative Developments Potentially Impacting New York Foreclosure & Debt Collection Proceedings and Judgments

BCLP on 5/6/2022

The Southern District of New York has granted a preliminary injunction prohibiting state officials from implementing or enforcing retroactive applicability of recently passed legislation (S.B. 5724A, 244thLeg. Sess., c. 831...more

All Consuming - Financial Litigation Insights, Volume 2, Issue 16

Spilman Thomas & Battle, PLLC on 8/10/2021

President Biden Extends Pause on Student Loan Payments to 2022 - "Student loan payments have been paused since Congress passed the CARES Act in March of last year but were due to resume in September." Why this is...more

Are Financial Institutions Creating a Corporate Governance Strategy to handle the End of Libor?

Foodman CPAs & Advisors on 8/21/2020

The London Interbank Offered Rate (LIBOR) expires at the end of 2021. Used since the early 1980s, LIBOR is the most referenced global short-term interest rate, and a “standard benchmark”....more

CFPB Issues Proposed Libor Transition Rules

Holland & Knight LLP on 6/19/2020

The Consumer Financial Protection Bureau (the Bureau) has issued proposed regulations (Proposed Regulations) to facilitate the transition away from Libor (the London Interbank Offered Rate) in the consumer credit market, and...more

Going Through Changes: Transitioning to a LIBOR-less World for Consumer Loans

Mayer Brown on 1/30/2020

It is widely anticipated that the London Interbank Offered Rate (“LIBOR”) will be discontinued in 2021. As LIBOR commonly is used as an index rate for both residential mortgage and consumer loans, its discontinuance has the...more

Financial Daily Dose 11.19.2019 | Top Story: T-Mobile Chief John Legere to Leave Company in April

Robins Kaplan LLP on 11/19/2019

T-Mobile chief and fan-of-magenta John Legere has announced that he’ll be stepping down in April at the end of his current contract. Legere will be succeeded by Mike Sievert, the carrier’s current president and COO....more

SIFMA LIBOR Transition Briefing: Transition to Alternative Reference Rates - Key Takeaways

Orrick, Herrington & Sutcliffe LLP on 7/22/2019

SIFMA hosted a briefing on July 15 at which presenters from the NY Fed, FCA, ARRC, Wells Fargo, Freddie Mac, Fannie Mae and SIFMA discussed the progress that has been made thus far in preparing for the transition from LIBOR...more

What's Old is New Again: The Future of Bank Partnership Programs from Small Dollar Installment Loans to Mortgages to Everything

Hudson Cook, LLP on 6/14/2019

Bank partnerships allow banks to offer loans to consumers and businesses by leveraging the resources of non-bank entities. The relationships between banks and their non-bank entity partners have existed for many years. In the...more

California Further Expands Protections to Servicemembers, Restricts Credit Reporting About Active Duty Status, Requires Written...

Ballard Spahr LLP on 10/5/2018

On September 19, 2018, California enacted AB-3212. The Bill amends the California Military and Veterans Code to expand the protections offered to qualifying servicemembers under state law and to impose new criminal penalties...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 7/20/2018

U.S. Financial Industry Developments - LIBOR "Transition" - While there is a way to go until the end of 2021 when panel banks will no longer be required to provide LIBOR quotes to the FCA, we expect to see more and more...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 9/14/2017

In an apparent effort to appease dissatisfied activist investors, chemicals giant DowDuPont has announced plans to change its breakup plan with an reorganizational structure that focuses on three “distinct businesses: an...more

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