Coronavirus News

PPP Exception from Certain Federal Reserve Act and Regulation O Restrictions

The Federal Reserve Board recently issued an interim final rule which excepts certain loans guaranteed under the Small Business Administration’s Paycheck Protection Program (PPP)...

Arkansas Enacts Emergency Legislation to Allow Remote Notarization

Governor Asa Hutchinson signed into law SB340 to permit the remote notarization of documents due to the COVID-19 pandemic.  This legislation is effective retroactive...

Federal Judge Vacates CDC’s Nationwide Eviction Moratorium

On May 5, 2021, a federal judge in DC vacated the CDC’s eviction moratorium order, The Temporary Halt in Residential Evictions to Prevent the...

Fannie Mae Extends COVID-19 Appraisal Flexibilities

Fannie Mae updated Lender Letter LL-2021-04 to extend the effective date of LL-2021-04 through May 31, 2021. These policies were initially published in March...

NY Extends Emergency Moratorium on Evictions and Foreclosures Due to COVID-19 Pandemic

Governor Andrew Cuomo recently signed an extension of both the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020 and the COVID-19 Emergency Protect...

FHA Clarifies Timing of Review of Borrowers for COVID-19 Loss Mitigation Options

FHA recently announced a clarification concerning the timing of a mortgagee’s review of borrowers in a pandemic-related forbearance for a COVID-19 loss mitigation option. ...

WBK Chart of State Regulator Communications

WBK continues to update its chart of coronavirus-related communications from state mortgage regulators, for use in our state licensing practice.  It is available on this...

CFPB Publishes Brief on Characteristics of Mortgage Borrowers During the COVID-19 Pandemic

The CFPB Office of Research recently published a special issue brief detailing trends among borrowers in forbearance and delinquent on their mortgages since the...

NCUA Issues Interim Final Rule Regarding PCA Regulations Due to COVID-19

The NCUA recently issued an interim final rule to temporarily modify the prompt corrective action (PCA) regulations to help federally insured credit unions (FICUs)...

FHA Revises Standard Single Family Servicing Policies

In their latest Handbook 4000.1 Transmittal, FHA announced multiple updates, including the publication of updates to the Servicing and Loss Mitigation section (Section III)...

CFPB Proposes to Delay Effective Date of FDCPA Final Rules

The CFPB recently proposed extending the effective date of its two final rules amending Regulation F, which implements the FDCPA, to allow stakeholders affected...

CFPB Issues Notice of Proposed Rulemaking to Amend Regulation X

The CFPB recently issued a notice of proposed rulemaking and request for comment to amend Regulation X to assist borrowers affected by the COVID-19...
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