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  • South Dakota Adds Mortgage Branch Registration Requirement

    On July 1, the South Dakota Division of Banking posted a Mortgage Branch Registration requirement to the Nationwide Multistate Licensing System.

  • McGlinchey Launches Podcast That Brings You “More”

    McGlinchey Stafford is pleased to announce the launch of its podcast, “More With McGlinchey,” available now where you listen to podcasts. “We know our clients look to us to cut through the noise in distilling the issues that matter to them,” said Rudy Aguilar, McGlinchey’s Managing Member. “We’re committed to providing information where our audienceMore

  • FDIC Issues Final Rule Codifying Valid When Made Doctrine, Cites McGlinchey Attorney

    At long last, the FDIC has issued its final rule codifying the “valid when made” doctrine. The rule was finalized on June 25, 2020, and clarifies that the interest rate lawfully assessed by an originating depository institution may not be impacted by the sale, assignment, or other transfer of the loan or a change in state law.

  • The Federal Agencies and Enterprises Extend Foreclosure Moratoriums Again

    Three federal agencies who make, guarantee, and insure mortgage loans, the Department of Housing and Urban Development (HUD)’s Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), and the Department of Agriculture (USDA)’s Rural Development Department, and two federal enterprises who purchase and securitize mortgages, Fannie Mae and Freddie Mac (collectively “Agencies”), extended theirMore

  • COVID Law Imposes Forbearance and Loss Mitigation Requirements

    On June 17, 2020, Governor Andrew Cuomo signed S8428/A10530 and S8243-C/A10351-B into law. Collectively, in relevant part, the legislation creates N.Y. Banking Law § 9-x, which relates to residential forbearances as a result of COVID-19. Who does the legislation apply to? The requirements of the legislation generally apply to “regulated institutions,” which are defined asMore

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