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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 22 2012
Much has been written about the increasing responsibilities of the Board of Directors for risk oversight and the changes in corporate governance that these additional responsibilities often require.
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 - September 6 2012
The new and/or emerging risks that management and Boards of Directors face today include those arising from rapid transformation in the delivery of technological solutions, including dramatic changes resulting from the increased use of "cloud" computing.
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").
