News & Analysis as of August 16, 2025

Mortgage Servicers

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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 +

Nevada enacts new customer information safeguarding standards for financial services companies

Orrick, Herrington & Sutcliffe LLP on 6/2/2025

On May 26, the governor of Nevada enacted SB 44 to impose new duties on financial services providers in Nevada, aligning state requirements for safeguarding customer information with FTC standards in its safeguards rule (16...more

HUD further revises servicing and claims requirements and loss mitigation options

Ballard Spahr LLP on 4/23/2025

In January 2025 the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2025-06 revising servicing and claims requirements and loss mitigation options for FHA insured mortgage loans effective...more

Reverse Mortgage Update: New York Law Mandates New Foreclosure Notices and Certificate of Merit

BCLP on 5/21/2018

New York has signed into law an amendment redefining a reverse mortgage as a “home loan.” With this amendment, statutory pre-foreclosure ninety day notices (RPAPL 1304) and a “certificate of merit” (CPLR 3012-b) will be...more

Modifications to the California Homeowner Bill of Rights

BCLP on 1/23/2018

On January 1, 2018, certain provisions of the California Homeowner Bill of Rights (“HBOR”) expired. But contrary to what many assumed, the January 1, 2018 expiration date did not apply to all of the HBOR’s provisions, and...more

Nevada Deals a New Hand

K&L Gates LLP on 1/15/2016

Holders of Mortgage Servicing Rights are not Subject to Licensing as Mortgage Servicers in Nevada. In July 2015, the Nevada legislature dealt the mortgage industry a new hand when it passed Assembly Bill 480 (2015) (“AB...more

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