The qualified mortgage (QM) rules have become a world of contradictions. In a client advisory, our Financial Services & Products Group investigates how the residential mortgage markets can thread the needle between new rulings from Fannie Mae and Freddie Mac and recent rulings from the Consumer Financial Protection Bureau.
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An Open Letter from Richard Hays, Chairman and Managing Partner, Alston & Bird
As Alston & Bird is pausing today for a “Day of Learning and Reflection” in observation of Juneteenth, Chairman and Managing Partner Richard Hays posted an open letter regarding recent events, and how Alston & Bird can spur lasting and meaningful change in both the firm and the communities we serve: “As a firm with its […]
Attorneys General Urge FHFA and HUD to Take Additional Measures to Protect Borrowers Affected by COVID-19
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 […]
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 […]
Six Practical Tips for Practicing Cyberhygiene in the Middle of a Global Pandemic
Businesses large and small are encouraging (or requiring) employees to work remotely or cancel work travel as part of the response to COVID-19. But suddenly expanding the number of employees working remotely comes with increased cybersecurity and information technology risks. A cybercriminal (including malicious insiders) will have a target-rich environment during this time since more […]