A&B Abstract: On April 23, 2020, the attorneys general of 33 states, the District of Columbia and Puerto Rico (the “Attorneys General”) sent two letters, one to the Federal Housing Finance Agency (“FHFA”) and the other to the U.S. Department of Housing and Urban Development (“HUD” and collectively with FHFA, the “Agencies”), respectively, noting that […]
About Anoush Garakani
Delaware Governor Issues Order Restricting Residential Foreclosures and Evictions
A&B Abstract: On March 24, 2020, Delaware Governor, John Carney, issued a Sixth Modification (the “Order”) to the Declaration of a State of Emergency (the “State of Emergency”) initially issued on March 12, 2020. The Order addresses a number of issues that impact residential mortgage loan servicers, including restrictions on residential foreclosures and evictions and […]
Key Provisions of the CARES Act Affecting Mortgage Servicers
A&B ABstract: In response to COVID-19, on Friday March 28, 2020, President Trump signed into law the “Coronavirus Aid, Relief, and Economic Security Act” (the “CARES Act”). This is a monumental $2 trillion stimulus package intended to provide financial relief to businesses, individuals and public institutions affected by the coronavirus. The CARES Act addresses sweeping […]
NYDFS Extends Transition Period for Part 419 Compliance by Additional 90 Days
On March 13, 2020, the New York Department of Financial Services (“NYDFS”) adopted, on an emergency basis, amendments (the “Emergency Adoption”) to the final mortgage servicer business conduct rules found in Part 419 of the Superintendent’s Regulations (the “Final Rules”), to extend the transition period for compliance with the Final Rules by an additional 90 […]
Alston & Bird Webinar Series: Coronavirus: What Does My Business Need to Know?
Thursday, March 12, 2020 | 11:00am ET For Employers: Coronavirus and Travel: A Complicated Business Decision The 2019 novel coronavirus outbreak (also known as COVID-19) causes respiratory illness and can spread from person to person. There have been thousands of deaths reported globally, making the coronavirus deadlier than SARS. Coronavirus infections have been reported in dozens […]