Blog Posts
March 10, 2022
New York Amends Contact Requirements for Certain Delinquent Borrowers
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Speaking Engagement May 14–17, 2025MBA’s 2025 Legal Issues and Regulatory Compliance ConferenceNanci Weissgold, Anoush Garakani, and Melissa Malpass speak during this conference sponsored by the Mortgage Bankers Association (MBA).
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Speaking Engagement May 13, 20252025 HPC Annual MeetingNanci Weissgold joins a panel discussion of the Trump Administration’s changes to the focus and authorities of independent agencies such as CFPB and FHFA during the Housing Policy Council’s 2025 annual meeting.
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Blog Posts April 30, 2025The End of Disparate Impact Liability?
On April 23, 2025, President Trump signed an Executive Order entitled “Restoring Equality of Opportunity and Meritocracy,” which seeks to “eliminate the use of disparate-impact liability in all contexts to the maximum degree possible.” This sweeping eradication of the disparate impact theory is not surprising. Indeed, the Consumer Financial Protection Bureau (CFPB) under the first […]
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Speaking Engagement April 29, 2025NAMMBA Town HallNanci Weissgold joins the regulatory review panel during the National Association of Minority Mortgage Bankers of America (NAMMBA) Town Hall.
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Blog Posts April 25, 2025VA Announces Wind Down of VASP Program and VA Home Retention Waterfall
What Happened? On April 23, 2025, the U.S. Department of Veterans Affairs (VA) issued Circular 26-25-2 (the Circular), which announces that the VA’s Veterans Affairs Servicing Purchase (VASP) program is winding down. As of May 1, 2025, the VA will no longer accept VASP submissions and will rescind the VA Home Retention Waterfall. New VASP […]
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Blog Posts April 23, 2025Governor Moore Signs Legislation Exempting “Passive Trusts” from Licensure in Maryland
What Happened? In a highly anticipated and welcome development, on April 22, 2025, Maryland Governor Wes Moore signed into law the Maryland Secondary Market Stability Act of 2025 (emergency measures HB 1516 and its companion SB 1026) with an immediate effective date. The legislation is significant as it has the effect of modifying the formal […]
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Blog Posts April 11, 2025Federal Banking Agencies Announce Intent to Rescind 2023 Community Reinvestment Act Final Rule and Return to Prior Framework
What Happened? The Federal Deposit Insurance Corporation (“FDIC”), Board of Governors of the Federal Reserve System (“Federal Reserve”) and the Office of the Comptroller of the Currency (“OCC”), (collectively, “federal banking agencies”) announced their intent to rescind the 2023 Community Reinvestment Act Final Rule (“Final Rule”) and to reinstate the CRA framework that existed prior […]
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Blog Posts April 9, 2025Consumer Finance State Roundup
The latest edition of the Consumer Finance State Roundup highlights recently enacted measures of potential interest from three states: Arkansas: House Bill 1184, which we expect to take effect on or about August 8, amends the Fair Mortgage Lending Act, Ark. Code Ann. §§ 23-39-501 et seq., to address the use of mortgage trigger leads. […]
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Blog Posts March 28, 2025HUD Revises Borrower Residency Requirements for FHA-Insured Mortgages
What Happened? On March 26, 2025, the U.S. Department of Housing and Urban Development (HUD or the Department) issued Mortgagee Letter 2025-09 (ML 2025-09), which updates HUD’s residency requirements for borrower eligibility for mortgages insured by the Federal Housing Administration (FHA). The provisions of ML 2025-09 apply to all FHA Title II Single Family forward […]
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Blog Posts March 21, 2025New York State Proposes Consumer Protection Reforms through FAIR Business Practices Act
What Happened? On March 13, New York state legislators introduced new legislation called the Fostering Affordability and Integrity Through Reasonable (FAIR) Business Practices Act. The bill, supported by New York Attorney General Letitia James, aims to strengthen New York’s existing consumer protection law and would expand the law’s scope from only covering “deceptive” acts or […]
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