Mortgages, Lenders, Financial Services Industry

Senate Passes House Version of Trigger Leads Bill

Ballard Spahr LLP on 8/4/2025

As previously reported, both the House and Senate passed bills to ban “trigger leads,” except in limited circumstances, although the versions of the bills that were previously passed are slightly different. The one difference...more

Mansion House: Mortgage-related developments

A&O Shearman on 7/29/2025

HM Treasury has announced the launch of a permanent mortgage guarantee scheme, aimed at supporting first-time buyers and home movers across the UK. The scheme enables access to 91–95% loan-to-value mortgages, allowing buyers...more

New York Legislature Targets Real Estate Lenders To Lower Rents

Jones Day on 7/25/2025

In an effort to protect small businesses from high rents, on June 13, both houses of New York's legislature passed a bill, S1163, that prohibits "rent minimums" in real estate secured loan documents. As of this writing, this...more

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

Troutman Pepper Locke on 7/25/2025

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

Putative Class Action Lawsuit Filed Against loanDepot Alleging Loan Originator Compensation Rule Violations

Ballard Spahr LLP on 7/21/2025

Recently, a complaint was filed against loanDepot.Com, LLC (“loanDepot”) in the U.S. District Court for the District of Maryland alleging violations of the Truth in Lending Act (TILA)/Regulation Z loan originator compensation...more

UK regulators publish joint final policy on Loan to Income flow limit in mortgage lending

A&O Shearman on 7/21/2025

The UK Prudential Regulation Authority (PRA) and the UK Financial Conduct Authority (FCA) have published joint final policy statement 11/25, finalising amendments to the PRA Rulebook and FCA Guidance (FG25/4) on the de...more

New York Legislature Passes Bill Banning Rent Minimum Provisions in Real Estate Loan Documents

Jones Day on 7/18/2025

On June 13, both houses of New York's legislature passed a bill, S1163, that prohibits "rent minimums" in real estate secured loan documents....more

Congress Passes Legislation to Help Protect Veterans from Foreclosure by Reauthorizing Partial Claims with VA Home Loans

Ballard Spahr LLP on 7/17/2025

The U.S. Senate recently passed H.R. 1815, the VA Home Loan Program Reform Act, to reauthorize partial claims with U.S. Department of Veterans Affairs (VA) guaranteed home loans. The U.S. House of Representatives passed the...more

HUD Rescinds Various FHA Mortgage Loan Requirements

Ballard Spahr LLP on 7/11/2025

Recently the U.S. Department of Housing and Urban Development (HUD) rescinded various FHA mortgage loan requirements in a series of five Mortgagee Letters....more

Senate passes bill to amend the FCRA

Orrick, Herrington & Sutcliffe LLP on 6/23/2025

On June 12, the U.S. Senate passed S. 1467, the Homebuyers Privacy Protection Act, which would amend Section 604(c) of the FCRA by adding new limitations on prescreening reports....more

Proposed New York FAIR Business Practices Act Aims to Expand Consumer Protections Against Unfair, Deceptive, or Abusive Practices

Troutman Pepper Locke on 6/17/2025

On March 13, New York State introduced proposed legislation titled the Fostering Affordability and Integrity Through Reasonable Business Practices Act (FAIR Act). The proposed legislation seeks to broaden the scope of...more

HUD updates requirements for mortgagee interviews

Orrick, Herrington & Sutcliffe LLP on 6/16/2025

On June 3, HUD published Mortgagee Letter (ML) 2025-14, “Updates to Modernization of Engagement with Borrowers in Default and Loss Mitigation,” which revised requirements for mortgagee interviews with FHA borrowers in default...more

FCA consultation on simplifying mortgage lending rules

A&O Shearman on 5/15/2025

The UK Financial Conduct Authority (FCA) has published a consultation paper (CP25/11) on simplifying its rules on mortgage lending and increasing flexibility, with an updated webpage and press release. This is the first set...more

VA Winding Down VASP Program

Ballard Spahr LLP on 4/28/2025

As previously reported, last year the U.S. Department of Veterans Affairs (VA) launched a Veterans Affairs Servicing Purchase (VASP) program, which VA characterized as a “last-resort tool” for VA home loan borrowers facing...more

North Dakota expands its financial data security framework, includes alternative financing providers to obtain money broker...

Orrick, Herrington & Sutcliffe LLP on 4/21/2025

On April 11, North Dakota enacted HB 1127 (the “Act”), amending the regulatory framework for financial institutions within the state by establishing a new chapter focused on data security programs. The Act amends various...more

Unlocking the Secrets of Reverse Mortgages — The Consumer Finance Podcast

Troutman Pepper Locke on 4/17/2025

In this episode of The Consumer Finance Podcast, Chris Willis is joined by colleagues Megan Burns, Jason Manning, and Punit Marwaha to explore the arcane world of reverse mortgages. They provide valuable insights about how...more

Legislation to prohibit ‘trigger leads’ in mortgage industry reintroduced in House, Senate

Ballard Spahr LLP on 4/16/2025

Legislation to prohibit so-called “trigger leads” in the homebuying process once again has been reintroduced in the House and Senate....more

Foreclosure Process Clarification: No Pre-Foreclosure Notice Required to be Served on Appointed Estate Fiduciary for Deceased...

Falcon Rappaport & Berkman LLP on 4/8/2025

In a significant legal victory for lenders, the Supreme Court of New York recently ruled in favor of our lender client in a residential foreclosure action against the estate of its borrower. This decision confirms that...more

Mortgages › Lenders › Financial Services Industry