Mortgages, Interest Rates, Loans

Tennessee enacts new home loan rate

Orrick, Herrington & Sutcliffe LLP on 5/12/2025

On April 28, the governor of Tennessee signed into law HB 908 to amend the maximum effective interest rate for home loans originated in the state. The new law sets the rate at four percentage points above the average prime...more

Could an interest rate reduction reduce government expenditure?

IR Global on 9/6/2024

A 1% reduction in the Bank Rate would reduce the UK government's annual interest charges on the national debt, but the exact amount of the reduction depends on the proportion of the debt that is sensitive to changes in...more

Trading Is Not a Dirty Word (CRE CLO)

Crunched Credit on 2/27/2024

As we begin to reflate the CRE CLO business this year with shrinking spreads and hopefully shrinking SOFR, we need to think of this as CRE CLO 3.0. This business, this technology, which is truly a brilliant way to deliver...more

Structured Finance Spectrum – Winter 2024

Alston & Bird on 2/22/2024

Welcome to the latest edition of the Spectrum, covering hot-topic issues in the structured finance markets in the U.S. and UK. This edition features the shifting single-family rental landscape, what’s next for EDGAR, and...more

CFPB 2022 Loan Data: Decrease in Originations; Increase Loan Payments, Fees

Sheppard Mullin Richter & Hampton LLP on 10/2/2023

On September 27, the CFPB released its annual report on residential mortgage lending activity and trends for 2022. Under the Home Mortgage Disclosure Act (HMDA), the CFPB requires financial institutions to collect and provide...more

Michigan Supreme Court Refuses to Enforce Usury Savings Clause in a Commercial Mortgage

Troutman Pepper Locke on 7/12/2023

In Soaring Pine Capital Real Estate & Debt Fund II, LLC v. Park Street Group Realty Services, LLC, the Michigan Supreme Court considered whether a court may enforce a usury savings clause in a mortgage agreement. A usury...more

A penalty for your thoughts: default interest rate found to be penal

A&O Shearman on 6/16/2023

The High Court has found a clause that imposed default interest of 4% per month on a defaulting party to be a penalty and therefore unenforceable....more

The Great Repricing: Commercial Real Estate Eyes the Abyss

Cozen O'Connor on 6/9/2023

The U.S. commercial real estate market, valued at $20 trillion in 2021 by some estimates, touches nearly every facet of urban and suburban dwellers’ lives – from where they live (multi-family housing or apartment buildings)...more

Default Interest Rates on Principal Illegal Under California Law?

Ervin Cohen & Jessup LLP on 3/28/2023

As interest rates rise, borrowers may find themselves in default, facing lenders who overreach by seeking to recover default interest in addition to regular interest on the principal of the loan. Borrowers may have a weapon...more

Florida Bankruptcy Court Holds That Lenders Must Specify Post-Judgment Interest Rates in Addition to Post-Default Rates in Loan...

King & Spalding on 1/23/2023

On November 21, 2022, the U.S. Bankruptcy Court for the Southern District of Florida sustained the debtors’ objection to mortgage lender Benworth Capital Partners, LLC’s proof of claim and held that the state’s statutory...more

New CFPB report encourages creditors to proactively apply SCRA interest rate benefits

Ballard Spahr LLP on 12/16/2022

On December 7, 2022, the CFPB issued a report recommending that creditors proactively provide Servicemember Civil Relief Act (“SCRA”) interest rate benefits to eligible customers, bypassing the statute’s requirements of a...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

Court Holds Ohio’s SCRA Not Applicable to Residential Mortgages

McGlinchey Stafford on 2/1/2022

In a case of first impression in Ohio, the Fairfield County Court of Common Pleas held that R.C. § 1343.031, Ohio’s version of the Servicemembers Civil Relief Act (SCRA), does not apply to residential mortgages. This decision...more

What Happened To My Interest Rate? Planning Now To Avoid Value Transfer And Other Risks Upon The Demise Of U.S. Libor

King & Spalding on 10/23/2020

As the title suggests, U.S. LIBOR (LIBOR) is going away, with official announcements expected as soon as year-end 2020 of LIBOR’s December 31, 2021 demise. The end of LIBOR will be replete with a plethora of risks for banks,...more

All Consuming - Financial Litigation Insights: Issue 8, October 2020

Spilman Thomas & Battle, PLLC on 10/23/2020

Servicemembers’ Civil Relief Act - What You Need to Know - Between the Civil War and 1940, the United States periodically had legislation that prevented lawsuits against soldiers and sailors during times of conflict. Then,...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

Liquidity in Today’s Economy

White and Williams LLP on 2/11/2020

I recently was chatting with a residential mortgage broker and learned that conventional mortgages, those that qualify for purchase by Fannie Mae, carry a higher interest rate than “jumbo” mortgages, those that are too large...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

Report of the General Advocate of the European Court of Justice (ECJ) on a Mortgage Loan Reference Index (IRPH) litigation

A&O Shearman on 9/13/2019

General background of the dispute in the main proceeding - In the context of a claim of a consumer against a Spanish bank regarding the potential unfair nature of a IRPH indexed floating interest rate clause, the First...more

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