Creditors’ Rights, Financial Restructuring, and Bankruptcy

Creditors’ Rights, Financial Restructuring, and Bankruptcy
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  • MBA Report Reveals Drop in Residential Mortgage Loan Delinquency Rate

    The Mortgage Bankers Association’s (“MBA”) 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. This rate, according to the MBA, represents a decrease of 54 basis points from the fourth quarter of 2021 and 227 basis points from one year ago. Further, MBA Vice President of Industry Analysis Marina Walsh notes that the delinquency rate dropped for the seventh consecutive quarter, reaching its lowest level since the fourth quarter of 2019. Walsh credits the improvement in loan performance to the movement of loans that were ninety days or more delinquent, with most of these delinquencies either being cured or entering post-forbearance loan workouts.

  • Podcast: #WhyMcGlinchey? Path to Partnership with Matt Manning

    The path to partnership looks different for every lawyer. During today's installment of the #WhyMcGlinchey Path to Partnership series, we'll talk with Matt Manning about why he has chosen to grow his career here at McGlinchey, from Associate to Office Managing Member

  • CFPB tees up investigations of AI-based underwriting, adverse action notices

    Of Counsel Brian Fink (Washington, DC) is quoted in “CFPB tees up investigations of AI-based underwriting, adverse action notices” in Auto Finance News. Brian is a former regulator in the CFPB’s Office of Supervision Policy. The article covers CFPB’s attitudes towards AI and approach to enforcing related federal laws. Fair lending and the use of technology has beenMore

  • Cannabis Companies Lacking Bankruptcy Protections Can Explore State Options

    As the trend to legalize the medical and recreational use of marijuana continues to blaze through the states, federal law, and bankruptcy courts by extension, have not yet followed suit. Bankruptcy courts have historically prevented cannabis – and even cannabis-ancillary companies – from filing for protection under the United States Bankruptcy Code because marijuana remains illegal under the Controlled Substances Act (CSA) at the federal level. Consequently, financially distressed companies in states where marijuana is legal still have limited restructuring options and must rely on state law options.

  • Nine McGlinchey Practices, 18 Attorneys Honored in Chambers USA 2022

    McGlinchey is pleased to announce that 18 attorneys and nine practice areas have been recognized in the 2022 edition of Chambers USA – America’s Leading Lawyers for Business.

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