News & Analysis as of August 16, 2025

Lenders

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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 +

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

VA Announces Wind Down of VASP Program and VA Home Retention Waterfall

Alston & Bird on 4/28/2025

What Happened? On April 23, 2025, the U.S. Department of Veterans Affairs (VA) issued Circular 26-25-2 (the Circular), which announces that the VA’s Veterans Affairs Servicing Purchase (VASP) program is winding down. As of...more

US FHA Introduces Payment Supplement Loss Mitigation Option

Mayer Brown on 4/10/2024

In an effort to help struggling borrowers stay in their homes, the US Department of Housing and Urban Development’s (“HUD” or “Department”) Federal Housing Administration (“FHA”) recently introduced its newest loss mitigation...more

House Votes to Repeal OCC True Lender Rule

Goodwin on 7/28/2021

In This Issue. The House of Representatives voted to pass a Congressional Review Act resolution repealing the Office of the Comptroller of the Currency’s (OCC) “true lender” rule; the Consumer Financial Protection Bureau...more

Financial Services Weekly Roundup: Code Libor – SEC And OCIE Issue Risk Alert In Preparation Of Libor Discontinuation

Goodwin on 6/26/2020

In This Issue. The Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert about the scope and content of examinations OCIE plans to conduct of various...more

Sixth Circuit Weighs in on TCPA “Prior Express Consent”

Burr & Forman on 8/31/2015

The U.S. Court of Appeals for the Sixth Circuit recently addressed both the timing and scope of “prior express consent” under the Telephone Consumer Protection Act (“TCPA”). The plaintiff in Stephen M. Hill v. Homeward...more

Unmitigated Waivers: Guarantors Remain Liable Despite 4-Year Delay in Foreclosure Sale

Snell & Wilmer on 5/15/2014

If a lender delays foreclosure allowing years of default interest to accrue such that a guarantor’s obligation increases from $6 million to $12 million, should the guarantor remain on the hook for the full $12 million? In...more

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