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Blog Posts January 26, 2023

Illinois Proposes Rules Implementing Its Community Reinvestment Act for Banks, Mortgage Lenders, and Credit Unions

A&B ABstract: The Illinois Department of Financial and Professional Regulation (“IDFPR”) has issued a notice of proposed rules to implement the newly passed Illinois Community Reinvestment Act (“ILCRA”), aimed at serving the credit needs of low- and moderate-income communities and individuals. The proposal includes a separate set of rules applicable to state-chartered banks, non-depository mortgage […]

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Digital Download November 2021

The Digital Download – Alston & Bird’s Privacy, Cyber & Data Strategy Newsletter – November 2021

Keep up with what’s happening in privacy, data security, and all things cyber – from the U.S.’s CMMC program to the EU’s GDPR to China’s PIPL – from our Privacy, Cyber & Data Strategy Group.

Blog Posts April 6, 2020

Regulatory Agencies Issue Mortgage Servicing Guidance and FAQs for the CARES Act

Our Financial Services & Products Group answers some questions mortgage servicers might have about how federal and state agencies will be flexible with enforcement under the CARES Act. What is the “covered period” for purposes of Section 4022? Can a servicer require a borrower to provide a written attestation? Should servicers report the status of […]

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Blog Posts February 4, 2020

Puerto Rico Office of the Commissioner of Financial Institutions Announces Mandatory Mortgage Servicer Reporting in Response to Recent Earthquakes

A&B Abstract: In the wake of the recent earthquakes in Puerto Rico, the Puerto Rico Office of the Commissioner of Financial Institutions (“OCFI”) released Circular Letter No. CFI-2020-01 (the “Circular Letter”). The Circular Letter imposes weekly and monthly reporting requirements on all Puerto Rico licensed mortgage lenders, mortgage servicers, Home Equity Conversion Mortgage servicers, reverse […]

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Blog Posts February 3, 2020

FHFA Proposes New Minimum Financial Requirements for Fannie Mae and Freddie Mac Seller/Servicers

A&B ABstract In keeping with broader scrutiny on non-bank servicers, the Federal Housing Finance Agency (FHFA) is proposing new financial eligibility requirement for non-bank servicers doing business with Fannie Mae or Freddie Mac. The Proposal: On January 31, the FHFA proposed new financial eligibility requirements for approved nonbank Seller/Servicers doing business with Fannie Mae or […]

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