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USA - January 23 2013
On January 17, 2013, the Consumer Financial Protection Bureau ("CFPB") issued final rules (the "Final Rules") detailing national mortgage servicing…
USA - November 9 2012
Recently, the US Consumer Financial Protection Bureau ("CFPB") published comprehensive proposed rules (the "Proposed Rules") in the nature of national servicing standards applicable to servicers of residential mortgage loans.
USA - October 19 2012
On September 11, 2012, the Federal Housing Finance Agency, together with Fannie Mae and Freddie Mac (the "GSEs"), announced changes to the GSEs' representation and warranty framework for conventional single family loans that meet the payment history and other requirements established by the GSEs, and that are sold or delivered to the GSEs on or after January 1, 2013.
USA - August 28 2012
On August 17, 2012, the US Department of the Treasury (the "US Treasury") announced a Third Amendment to the Amended and Restated Senior Preferred Stock Purchase Agreements ("PSPAs") between the Federal Housing Finance Agency ("FHFA"), as conservator of Government Sponsored Enterprises Fannie Mae ("Fannie") and Freddie Mac ("Freddie") (collectively, "GSEs").
USA - April 25 2012
On April 19, 2012, the US Federal Reserve Board ("the Federal Reserve") announced that entities subject to Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the so-called "Volcker Rule") will have until at least July 21, 2014 to bring their activities and investments into compliance with the restrictions and prohibitions of this provision of Dodd-Frank.
