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#Massachusetts

State Community Reinvestment Acts Reaching Beyond Banks

September 28, 2022 By Caroline Eisner

A&B ABstract: When Congress passed the federal Community Reinvestment Act (“CRA”) in 1977 to address redlining, it imposed affirmative requirements on insured depository institutions to serve the credit needs of the communities where they receive deposits. At that time, banks were extending the vast majority of mortgages nationally. However, non-banks have become the dominant mortgage […]

Filed Under: Community Reinvestment Act, Mortgage Loans Tagged With: #Massachusetts, #New York, #redlining, Connecticut, CRA, District of Columbia, Illinois, mortgage lending

State Community Reinvestment Acts Reaching Beyond Banks

September 23, 2022 By Caroline Eisner

A&B ABstract: When Congress passed the federal Community Reinvestment Act (“CRA”) in 1977 to address redlining, it imposed affirmative requirements on insured depository institutions to serve the credit needs of the communities where they receive deposits. At that time, banks were extending the vast majority of mortgages nationally. However, non-banks have become the dominant mortgage […]

Filed Under: Mortgage Loans, State Law, Uncategorized Tagged With: #Massachusetts, #New York, Community Reinvestment Act, Connecticut, CRA, DC, District of Columbia, Illinois, mortgage lending

Massachusetts Enacts Emergency COVID-19 Measure Addressing Residential Mortgage Foreclosure Moratoria, Forbearance, Evictions, Reverse Mortgage Counseling

April 24, 2020 By Nanci Weissgold

A&B Abstract: On April 20, 2020, Massachusetts Governor, Charlie Baker, signed into law HB 4647 (2020 Mass. Acts 65), an emergency measure, effective immediately, providing for mortgage forbearances and a moratorium on evictions and foreclosures during the COVID-19 emergency. This measure also waives the in-person counseling requirement for reverse mortgage loans.  This law follows guidance […]

Filed Under: Mortgage Loans, Mortgage Servicing, Real Estate Settlement Procedures Act (RESPA), Reverse Mortgages, Servicemembers Civil Relief Act (SCRA), State Law Tagged With: #Massachusetts, CARES Act, Evictions, Forbearance, Mortgage Loans, Mortgage Servicing, Reverse Mortgages

Massachusetts Poised to Regulate Student Loan Servicers

October 28, 2019 By Nanci Weissgold

A&B ABstract: Amid growing concerns of a student loan crisis, proposed Massachusetts H. 3977 is worth watching. If enacted, it would provide the Division of Banks and the Attorney General additional regulatory and enforcement authority over student loan servicers. It also would establish a new Consumer Assistance Unit to help consumers address complaints in any […]

Filed Under: Licensing, State Law, Student Loans Tagged With: #H3977, #Massachusetts, #studentloanservicing

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