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Regulatory Oversight › Mortgages › Lenders

Orrick, Herrington & Sutcliffe LLP

FHA archives nearly 600 inactive mortgagee letters

Orrick, Herrington & Sutcliffe LLP on

On May 19, it was reported that the FHA’s Office of Single Family Housing (OSFH) archived nearly 600 inactive mortgagee letters after determining that their inclusion on OSFH’s website caused confusion among lenders seeking...more

Miles & Stockbridge P.C.

Fannie Mae Updates Preferred Equity Guidelines: What You Need to Know

Miles & Stockbridge P.C. on

Fannie Mae published its Preferred Equity Guide Update (25-06) and its Preferred Equity Checklist (Form 6441) in mid-April. Although unpublished iterations have been circulating for the past two years, lenders and law firms...more

Alston & Bird

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

Alston & Bird on

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

Ballard Spahr LLP

VA Winding Down VASP Program

Ballard Spahr LLP on

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

Bradley Arant Boult Cummings LLP

FHFA Has Fraud on Its Mind

Bradley Arant Boult Cummings LLP on

In recent days, Federal Housing Finance Agency (FHFA) Director Bill Pulte has made it clear that he believes fraud is a rampant problem at FHFA. In a stream of related activities, Pulte has called on the public to report...more

DarrowEverett LLP

Blacklisted Condos: A Growing Crisis for Owners and Buyers

DarrowEverett LLP on

The blacklisting of condominium/condo associations by financial institutions and insurance providers has emerged as a pressing issue in the real estate finance and housing sector. This practice, which involves lenders or...more

King & Spalding

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

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

Bilzin Sumberg

Wells Fargo Ends Marketing Services Arrangements with Builders

Bilzin Sumberg on

Concerned about “increasing uncertainty surrounding regulatory oversight of these types of arrangements,” Wells Fargo is ending all of its roughly 200 mortgage marketing services and desk rental agreements with builders and...more

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