Covid-19 Infobytes
Colorado amends executive order regarding eviction protections
On September 22, the Colorado governor issued Executive Order 2020 202 , which amends Executive Order 2020 101, as amended and extended by earlier orders. The amendment provides that an individual is prohibited from filing or initiating actions for forcible entry and detainer (i.e. eviction),...
InfoBytesNew York governor extends moratorium on commercial evictions
On September 21, the New York governor issued Executive Order 202.64, which extends the moratorium on Covid-19-related commercial evictions until October 20. The eviction moratorium, which was first issued on March 20, has been extended several times. For our previous coverage, see here .
InfoBytesCalifornia Department of Real Estate issues FAQs regarding licensing process
On September 21, the California Department of Real Estate issued FAQs on licensing processes during Covid-19. The FAQs respond to questions regarding, among other things, how to determine whether an exam has been cancelled and how to reschedule the exam, the best way to complete a renewal of an...
InfoBytesDistrict court dismisses six PPP agent fee class actions
On September 21, the U.S. District Court for the Southern District of New York dismissed six class actions alleging that the Paycheck Protection Program (PPP) and its implementing regulations entitle accountants who assist borrowers in securing PPP loans to a portion of the fees banks receive from...
InfoBytesFed: Lenders must consider pre-pandemic condition when underwriting Main Street Lending Program loans
On September 18, the Federal Reserve Board, in conjunction with the FDIC and the OCC, revised the Main Street Lending Program (MSLP) FAQs (for-profit here , nonprofit here ) to clarify underwriting expectations, supervisory expectations, and details regarding co-borrower loans. Specifically, the...
InfoBytesAgencies adopt Covid-19 rules on regulatory capital and appraisals
Recently, the OCC, Federal Reserve Board, and FDIC (collectively, “the agencies”) adopted four interim final rules issued as a result of the Covid-19 pandemic as two final rules. Highlights of the rules include: Regulatory Capital. The agencies issued a final rule covering revisions to the...
InfoBytesSenate committee revisits the need for federal data privacy legislation
On September 16, the U.S. Senate Committee on Commerce, Science, and Transportation announced it will convene a hearing on September 23 to “examine the current state of consumer data privacy and legislative efforts to provide baseline data protections for all Americans.” The hearing will also...
InfoBytesVA issues circular on loss mitigation options for CARES Act forbearance cases
On September 14, the Department of Veterans Affairs issued Circular 26-20-33 , which clarifies whether, due to the impact of Covid-19, servicers may offer deferment as a Covid-19 loss mitigation option. Deferment may be used if the veteran is able to resume making monthly payment as scheduled under...
InfoBytesNevada Dept. of Business and Industry extends work from home guidance
On August 21, the Nevada Department of Business of Industry, Division of Mortgage Lending extended its provisional guidance allowing licensed mortgage loan originators to work from home (previously covered here and here ) until December 31, 2020.
InfoBytesJudicial Council of California votes to end temporary eviction and judicial foreclosure rules
On August 13, the Judicial Council of California voted to end two temporary emergency rules governing evictions and judicial foreclosures. The first rule prohibited the issuance of summons or entering of defaults in eviction actions unless the case involved public health and safety issues, and...
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