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Department of Housing and Urban Development (HUD)

Biden-Harris Administration Announces Extension of COVID-19 Foreclosure Moratorium

June 24, 2021 By Nanci Weissgold and Anoush Garakani

A&B Abstract: Today, the Biden Administration announced an extension of the foreclosure moratorium for federally-backed mortgage loans (the “Presidential Announcement”). To implement the Presidential Announcement, the federal agencies (i.e., HUD/FHA, USDA, and VA) and GSEs (i.e., Fannie Mae and Freddie Mac) have announced (or are anticipated to announce) extensions of the foreclosure moratorium until July […]

Filed Under: CARES Act, Consumer Loan, COVID-19, Department of Housing and Urban Development (HUD), Federal Housing Finance Agency (FHFA), Forbearance, HUD, Mortgage Loans, Mortgage Servicing Tagged With: #GSEs, Covid-19, Forbearance, Foreclosure, HUD, Mortgage Servicing, Servicing

CFPB Rescinds Compliance Bulletin on Marketing Services Arrangements and Issues FAQs on RESPA Section 8

October 8, 2020 By Nanci Weissgold, Brian Johnson and Anoush Garakani

A&B ABstract:  On October 7, 2020, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) rescinded Compliance Bulletin 2015-05, RESPA Compliance and Marketing Services Agreements (“Bulletin 2015-05”).  In addition, the Bureau published Frequently Asked Questions (“RESPA FAQs”) on the Real Estate Settlement Procedures Act (“RESPA”) Section 8 topics in an effort to “provide clearer rules of […]

Filed Under: Consumer Financial Protection Bureau (CFPB), Department of Housing and Urban Development (HUD), HUD, Real Estate Settlement Procedures Act (RESPA) Tagged With: #CFPB, HUD, Marketing Services Agreements, MSA, RESPA, Section 8

Attorneys General Urge FHFA and HUD to Take Additional Measures to Protect Borrowers Affected by COVID-19

April 28, 2020 By Nanci Weissgold, Brian Johnson and Anoush Garakani

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 […]

Filed Under: Attorney General Actions, Department of Housing and Urban Development (HUD), Federal Housing Finance Agency (FHFA), Mortgage Loans, Mortgage Servicing, Uncategorized Tagged With: CARES Act, Covid-19, Forbearance, HUD, Mortgage Servicing, Servicing

Key Provisions of the CARES Act Affecting Mortgage Servicers

March 30, 2020 By Nanci Weissgold, Brian Johnson, Anoush Garakani and Ross Speier

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 […]

Filed Under: Department of Housing and Urban Development (HUD), Fair Credit Reporting Act (FCRA), Fair Housing Act, HUD, Mortgage Loans, Mortgage Servicing Tagged With: CARES Act, Congress, Covid-19, Mortgage Servicing, Servicing

Federal and State Guidance Regarding the COVID-19 Pandemic

March 22, 2020 By Consumer Finance Team

A&B Abstract: The Alston & Bird Consumer Finance team recognizes that this is a period of great uncertainty both for the nation and our clients. We have received numerous questions and concerns regarding what federal and state regulators are doing in light of the COVID-19 pandemic and how their response may affect day-to-day business. We […]

Filed Under: Debt Collection, Department of Housing and Urban Development (HUD), Fair Credit Reporting Act (FCRA), HUD, Licensing, Mortgage Loans, Mortgage Servicing, State Law, Unfair, Deceptive and Abusive Acts or Practices (UDAAP) Tagged With: #NYDFS, Covid-19, HUD, licensing, MLO, Mortgage Servicing, Servicing

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