Covid-19 News & Analysis
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Spotlight: Buckley's Covid-19 Legal Resources & Capabilities
Buckley's core strengths sit at the confluence of the most threatening risks companies of every size and in every industry now face from the pandemic and the government’s response. We feature a deep bench of industry-leading legal professionals that provide best-in-class advice through a tailored, responsive approach that delivers the legal experience of a diversified law firm.
Judicial 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...
InfoBytesFHA issues underwriting guidelines on prior forbearances
On September 10, FHA released Mortgagee Letter 2020-30 , which discusses FHA’s underwriting guidelines for mortgages involving borrowers who were previously granted a forbearance. The letter notes that FHA is “expanding its underwriting guidelines” to address situations in which borrowers are...
InfoBytesDOJ official discusses PPP fraud enforcement
On September 10, in remarks at the Paycheck Protection Program (PPP) Criminal Fraud Enforcement Action press conference, Acting Assistant Attorney General Brian Rabbitt provided an overview of recent PPP enforcement actions and noted that “[m]any financial institutions have been strong partners” in...
InfoBytes"Relief or risk?: The hidden costs of government lending" by Michelle L. Rogers, Katherine L. Halliday, and Katherine Brockway Katz (National Law Journal)
There is no longer any question that the economy will take years, not months, to fully recover from COVID-19, and additional funding for government and government-backed loans seems inevitable at some point. Examining the programs from the initial COVID-19 relief package provides context for...
ArticlesCFPB issues Summer 2020 Supervisory Highlights
On September 4, the CFPB released its summer 2020 Supervisory Highlights , which details its supervisory and enforcement actions in the areas of consumer reporting, debt collection, deposits, fair lending, mortgage servicing, and payday lending. The findings of the report, which are published to...
InfoBytesCFPB examines early effects of Covid-19 on consumer credit
On August 31, the CFPB released a report on the early effects of the Covid-19 pandemic on consumer credit outcomes. The report analyzed a “nationally representative sample of approximately five million de-identified credit records maintained by one of the three nationwide consumer reporting...
InfoBytesNew York regulator issues guidance to regulated mortgage lenders and servicers regarding fees
On September 1, the New York Department of Financial Services issued industry guidance instructing regulated mortgage lenders and servicers not to charge (or pass through to) consumers for mortgage default registration fees. The press release announcing the guidance notes that certain counties,...
InfoBytesNevada governor issues directive regarding evictions
On August 31, the Nevada governor issued Declaration of Emergency Directive 031 , relating to the implementation of Senate Bill 1, previously covered here . The directive provides that, effective immediately through October 14, 2020, the initiation of a nonpayment of rent summary eviction action...
InfoBytesCalifornia governor signs legislation providing tenant and landlord protections
On August 31, the California governor signed AB 3088 , which provides relief from eviction and foreclosure due to the economic impacts of Covid-19. Pursuant to AB 3088, a tenant may not be evicted before February 1, 2021 if a Covid-19-related hardship caused the tenant to miss a rent payment...
InfoBytesColorado regulator updates guidance to real estate businesses with new mask requirements
On August 31, the Colorado Department of Regulatory Agencies updated its Safer at Home: Additional Guidance for Real Estate Brokers & Servicers , previously covered here and here , to note that the executive order creating a statewide mask ordinance was extended by Executive Order D 2020 164...
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