Anoush Garakani, Author at Of Interest

AUTHOR

Anoush Garakani

Anoush Garakani is a partner on Alston & Bird’s Consumer Financial Services Team. He advises on mortgage banking and consumer finance and concentrates on counseling clients on compliance with federal and state consumer financial protection laws and regulations.

HUD Revises Borrower Residency Requirements for FHA-Insured Mortgages

March 28, 2025

What Happened? On March 26, 2025, the U.S. Department of Housing and Urban Development (HUD or the Department) issued Mortgagee Letter 2025-09 (ML 2025-09), which

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Maryland Secondary Market Imperiled by Sweeping Regulatory Change Requiring Licensure for All Assignees of Mortgage Loans

January 16, 2025

What Happened? A development with far-reaching consequences for the secondary market, on January 10, 2025, the Maryland Office of Financial Regulation (“OFR”) issued guidance that

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CFPB Releases Long-Awaited Proposal to Amend Regulation X Loss Mitigation Rules

July 19, 2024

What Happened? On July 10, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) proposed a rule to amend provisions of its Mortgage Servicing Rules to significantly

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CFPB Expands its Reach with Final Rule Establishing Nonbank Registry of Public Settlements, Consent Orders and Enforcement Actions

June 18, 2024

What Happened? On June 3, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its Registry of Nonbank Covered Persons Subject to Certain Agency

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FHA and VA Announce New Loss Mitigation Options

April 15, 2024

What Happened? Both the FHA and VA have established new loss mitigation options to provide payment reduction to delinquent borrowers. On February 21, 2024, the

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