NEW HUD Booklet for Immediate Use to Comply with RESPA

On January 5, 2010, the U.S. Department of Housing and Urban Development (HUD) published in the Federal Register a notice announcing the availability on its Web site of the revised special information booklet required by the Real Estate Settlement Procedures Act (RESPA) to be given to homebuyers applying...

Real Cases in Real Estate by Andrea Lee Negroni, Esq. – Oct. 18th Update

Real Cases in Real Estate is a weekly update on real estate law, with legal principles illustrated and explained by lawsuits from around the country. The topics are wide-ranging for appeal to a broad spectrum of readers including lawyers, homeowners, investors and the general public. Andrea Lee...

Risks to Lawyers in Closing Real Estate Loans: Real Cases in Real Estate by Andrea Lee Negroni, Esq.

Real Cases in Real Estate is a weekly update on real estate law, with legal principles illustrated and explained by lawsuits from around the country. The topics are wide-ranging for appeal to a broad spectrum of readers including lawyers, homeowners, investors and the general public. Andrea Lee...

Ballard Spahr LLP: Borrower May Sue after Three Years To Rescind Mortgage Loan, 4th Circuit Rules

By Members of the Consumer Financial Services Group In a decision that possibly opens the door for renewed foreclosure delays, the U.S. Court of Appeals for the Fourth Circuit has held that a lawsuit seeking rescission is timely where the consumer provided notice of rescission to the subservicer...

Force-Placed Insurance: Another Multi-Billion Dollar Industry Caught in the Regulatory Cross Hairs

By Karen C. Yotis, Esq. Forced-placed insurance (FPI), which is sometimes referred to as 'lender-placed insurance,' is a specialty product that is intended to insure properties when standard property coverage is allowed to lapse. During the housing boom, FPI occupied an overlooked corner of...

Mortgage Loan Approved with Keys

Fannie Mae Updates Multifamily Selling and Servicing Guide

Fannie Mae has released Multifamily Mortgage Business Guide Update 14-02 announcing changes to the Multifamily Selling and Servicing Guide. The Guide changes affect primarily mortgage loans with either mezzanine financing or preferred equity, and properties with prior bond financing. The preferred equity...