Covid-19 News & Analysis
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New York Division of Licensing Services issues updates regarding exams
The New York Department of State, Division of Licensing Services, has issued updates regarding licensing exams. The division will begin offering written exams at exam sites located in regions that are in Phase 3 of reopening beginning July 6 for candidates whose previously scheduled exams were...
InfoBytesPPP extended until August 8
On July 4, President Trump signed S.4116 , which extends authorization for the Small Business Administration’s Paycheck Protection Program (PPP) through August 8. Additionally, the measure separates the amount authorized for the SBA’s standard 7(a) small business lending program from the PPP’s...
InfoBytesNYDFS extends suspension of license expiration for individual insurance producers
On July 2, the New York Department of Financial Services issued a supplement that extends the relief provided by Insurance Circular Letter No. 9, previously covered here . The letter, which, among other things, suspended the expiration of licenses for individual insurance producers, has been...
InfoBytesFannie and Freddie issue Covid-19-related selling updates
On July 1, Fannie Mae and Freddie Mac updated its Covid-19 frequently asked questions regarding the underwriting and loan eligibility for sellers. Fannie Mae’s FAQs (previously discussed here ) were updated to address questions regarding documentation and calculations related to self-employed...
InfoBytesNorth Dakota governor issues order on cooperatives’ annual meetings
On July 1, the North Dakota governor issued Executive Order 2020-37 , which suspends the provision in North Dakota law requiring cooperatives to hold an annual meeting within six months after the close of the fiscal year. Cooperative associations are permitted to schedule the 2020 annual meeting at...
InfoBytesAgencies outline 2021 resolution plan guidance for largest banking organizations
On July 1, the Federal Reserve Board and FDIC released a letter to address 2021 resolution plan submission requirements for the eight largest and most complex domestic banking organizations. The letter identifies targeted information required to be included in the 2021 resolution plans (due July 1...
InfoBytesOregon enacts bill providing notarization relief
On June 30, the Oregon governor signed HB 4212 , which provides relief relating to wage garnishment and notarization, among other things. The bill exempts certain recovery rebate payments under the CARES Act from garnishment requirements applicable to financial institutions. The bill also permits...
InfoBytesOregon enacts bill providing payment deferrals and foreclosure relief
On June 30, the Oregon governor signed HB 4204 , which requires mortgage payment deferrals and limits foreclosures during the Covid-19 emergency period, which runs from March 8 until September 30. Among other things, during that period, a lender may not treat as a default a borrower’s failure to...
InfoBytesDelaware governor issues order modifying relief relating to evictions, foreclosures, and insurance
On June 30, the Delaware governor issued an order that modifies previous relief relating to evictions, foreclosures, and insurance. Specifically, the declaration lifts the stay on residential mortgage foreclosure actions commenced prior to the state of emergency. However, subject to certain...
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