Presentation

Regulatory Compliance Concerns in the Current Era

April 21, 2023

Read Time: 1 min

Legislation and rulemaking have been the historical means to identify and adapt to changes to law, policy and regulatory expectations. In the current era, there has been a clear shift in the approach through which the CFPB and other regulators announce substantial changes in policy, including through RFPs, press releases, blog posts, other informal communications, enforcement actions, and settlements. This shift has increased steadily over the past couple of years, creating challenges in operating a finance program that meets regulatory expectations.

Members Jeff Barringer (Albany) and Jim Milano (Washington, DC) will join a panel “Regulatory Compliance Concerns in the Current Era” at the Manufactured Housing Institute (MHI) 2023 Congress & Expo on April 21, 2023, in Las Vegas, Nevada. This panel will address recent examples that impact how manufactured home loans are originated and serviced, other recent regulatory developments, and developments that appear to be on the horizon.

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Insights

Published Article

Agencies Propose Quality Control Standards for AVMs

August 16, 2023

Mortgage originators and secondary market issuers use automated valuation models (AVMs) in determining the worth of collateral securing mortgages on consumers’ principal dwellings.

In the Media

Origins: How Jim Milano Became a Reverse Mortgage Industry Attorney

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Member Jim Milano (Washington, DC) was profiled in the article "Origins: How Jim Milano Became a Reverse Mortgage Industry Attorney" in Reverse Mortgage Daily.

Published Article

New Opportunities for Lenders and Borrowers under Special Purpose Programs

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Problems with lack of affordability and access to housing are longstanding in the U.S. The CFPB has indicated that “minority households… continue to lack fair and equitable access to credit,” including mortgage lending.

Published Article

Eleventh Circuit Calls Out CFPB’s Conduct

July 3, 2023

In an unusually blunt decision, the 11th Circuit Court of Appeals affirmed a district court’s decision to dismiss various claims brought by the Consumer Financial Protection Bureau (CFPB) for “violating the district court’s clear orders and derailing multiple depositions… .”

Presentation

Increasing Access to Alternatives to Stick Built Housing

May 25, 2023

Member Jim Milano (Washington, DC) will join a panel, "Increasing Access to Alternatives to Stick Built Housing," at the Forum on Affordable Housing & Community Development Law 2023 Annual Meeting on May 25, 2023, in Washington, DC.

Presentation

U.S. Supreme Court’s Review of the CFPB’s Funding: Constitutional or Not?

May 23, 2023

Member Jim Milano (Washington, DC) will join a panel "US Supreme Court's Review of the CFPB's Funding: Constitutional or Not?" at the Real Estate Services Providers Council (RESPRO)'s RESPRO30 on May 23, 2023, in Lake Tahoe, Utah.

Published Article

FHFA Issues 2023 Regulatory Review Notice: Comments Due June 13, 2023

May 1, 2023

On April 14, 2023, the Federal Housing Finance Agency (FHFA) issued a Notice of Regulatory Review (Review Notice) as part of its Regulatory Review Plan (Review Plan) and is requesting comment on how FHFA rules and regulations could be made more effective and less burdensome. The comment deadline is June 13, 2023.

Published Article

HUD Implements 40-Year Loan Modification Option

April 3, 2023

On March 8, 2023, the Department of Housing and Urban Development (“HUD”) published a final rule allowing mortgagees to modify a Federal Housing Administration (“FHA”) insured mortgage by recasting the total unpaid loan for a new term limit of up to 480 months—up from the previous limit of 360 months—to cure a borrower’s default. The effective date of the final rule is May 8, 2023.

Published Article

CFPB: ‘Junk fees’ in auto servicing are unfair, deceptive

April 4, 2023

Continuing its aggressive push of investigating and regulating so-called junk fees charged by banks and financial companies, the CFPB recently issued a special edition of its Supervisory Highlights, which outlines such fees it uncovered in various industries, including auto servicing.

In the Media

Mortgage Lending-Focused Partner Joins McGlinchey In DC

March 28, 2023

Member Jim Milano (Washington, DC) was profiled by Law360 on March 28, 2023 on his recent move to McGlinchey. “I have very deep and long relationships with many McGlinchey attorneys that go back, in some cases, 35 years or more,” he said. Moving to McGlinchey will also give him and his clients the chance to take advantageMore

In the Media

CFPB’s Data Broker Probe Hints At Potential Rule Expansion

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Of Counsel Brian Fink (Washington, DC) was interviewed by Law360 about the Consumer Financial Protection Bureau's (CFPB) possible rule expansion based on a new inquiry around companies selling personal data.

Published Article

MBA Report Reveals Drop in Residential Mortgage Loan Delinquency Rate

June 16, 2022

The MBA's First Quarter 2022 National Delinquency Survey revealed that the delinquency rate for mortgage loans on 1–4-unit residential properties decreased to 4.11% of all loans outstanding at the close of the first quarter of 2022.

Presentation

Financing Programs in Today’s Regulatory Environment

April 12, 2022

On Tuesday, April 12, 2022, Jeff Barringer (Albany) will participate in a panel discussion on financing programs in today's regulatory environment during the 2022 Manufactured Housing Institute (MHI) Congress & Expo at Rosen Shingle Creek in Orlando.