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Mortgages Legislative Agendas Financial Services Industry

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 -
Troutman Pepper Locke

New York Court of Appeals to Review FAPA’s Constitutionality and Retroactive Application

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As a follow up to our May post, FAPA in the Spotlight Again: Second Circuit Renews Call for NY Court of Appeals Review, the New York Court of Appeals has finally agreed to consider New York’s Foreclosure Abuse Prevention...more

Ballard Spahr LLP

Wisconsin Senate Proposes New Bill to Revise Money Transmission, Consumer Lenders, Collection Agency, and Other Financial Services...

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In November 2023, S.B. 668 was introduced in the Wisconsin Senate. S.B. 668 would make sweeping changes to the state laws governing financial service providers. The bill creates a pathway for the Wisconsin Department of...more

Ballard Spahr LLP

Bipartisan Congressional Pressure Mounts for Mortgage Servicer Liquidity Assistance

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As previously reported, a bipartisan group of seven U.S. Senators sent a letter, dated April 8, 2020, to U.S. Department of Treasury Secretary Steven Mnuchin, in his capacity as Chair of the Financial Stability Oversight...more

Burr & Forman

COVID-19 Collections Restriction Efforts: Ohio, Maryland, and Massachusetts

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On March 25, 2020, State Rep. Thomas West of Ohio introduced legislation, HB 596, which would halt all in-state debt collections until Ohio’s state of emergency expired....more

Ballard Spahr LLP

CSBS Will Oppose Any Federal Legislation That Preempts State Licensing and Supervisory Authority

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The Conference of State Bank Supervisors (CSBS) President and CEO, John Ryan, recently announced the CSBS’s legislative priorities for state regulators this year. They include opposing any federal legislation that preempts...more

Ballard Spahr LLP

Comprehensive CREDIT Act Moves to Senate after Passing in House

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On January 29, 2020, the House passed H.R. 3621, the Comprehensive Credit Reporting Enhancement, Disclosure, Innovation, and Transparency Act of 2020 (“Comprehensive CREDIT Act”). Sponsored by Rep. Ayanna Pressley (D-MA), it...more

Ballard Spahr LLP

Inside the Beltway – Ringing in the Near Year With an Impeachment Trial

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What legislative activity can we expect in 2020 in the area of housing finance reform? With the Senate kicking off the New Year with an impeachment trial, it is highly unlikely Congress will make much headway on housing...more

Ballard Spahr LLP

Inside the Beltway – Will Impeachment Trump Housing Finance Reform?

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We continue to gauge the potential for Congress to act on the administration’s housing finance plan and/or pass their own before adjourning for the year. When Congress returned from August recess, members faced an ambitious...more

Hogan Lovells

New York legislature moves to impose new requirements on reverse mortgage industry

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Originators and servicers of HECMs who do business in New York should take action now to prepare to comply with the new bill’s requirements. Ensuring compliance may require a thorough review of commercial advertisements and...more

Ballard Spahr LLP

House Financial Services Committee passes bills to enhance sharing of information about bank vendors by regulators; create...

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This week, these three bills were passed by the House Financial Services Committee. The first two bills were passed by unanimous votes and the third bill was passed by a vote of 34-22....more

Ballard Spahr LLP

House Financial Services Committee Approves "Madden fix" Bill

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A bill to provide a "Madden fix" and three other bills relevant to mortgage lenders were included among the more than 20 bills approved by the House Financial Services Committee on November 15, 2017. With the exception of...more

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