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Might Consumer Forbearance be Expanded to Business?

USA - March 25 2020 To contain the coronavirus and save lives, the government has required many people to stay home and not report to work. To help those people manage…

CFPB on QM — No DTI? Short-Lived Patch Extension?

USA - January 18 2020 According to the Mortgage Bankers Association, the Consumer Financial Protection Bureau intends to revise its Qualified Mortgage definition by moving…

Jon D. Van Gorp, Steven M. Kaplan, Kris D. Kully, Laurence E. Platt

Courts uphold MERS serving as “nominee” on mortgage instruments

USA - March 4 2011 In recent weeks, several courts have issued opinions upholding the use of Mortgage Electronic Registration Systems, Inc. (MERS)— an electronic registry created by the mortgage banking industry to track transfers in servicing rights and beneficial ownership of millions of mortgage loans around the nation.

Jon D. Van Gorp, Jason H. P. Kravitt, Lucia Nale, Thomas V. Panoff

New York Bankruptcy Court holds remote special purpose subsidiaries eligible as debtors, denies dismissal of SPE Chapter 11 filings by General Growth Properties

USA - August 31 2009 On August 11, 2009, the US Bankruptcy Court for the Southern District of New York denied five motions to dismiss bankruptcy cases filed by certain bankruptcy remote, special purpose subsidiaries (SPEs) of General Growth Properties, Inc. (GGP).

Robert Gordon, Richard G. Ziegler