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.
FHA issues mortgagee letter extending guidance on employment reverification and appraisals
On August 28, the FHA issued Mortgagee Letter 2020-28 , which re-extends the effective date of Mortgagee Letter 2020-05, previously covered here , here , and here . The re-extension of appraisal guidance in Mortgagee letter 2020-05 is effective immediately for appraisals with an effective date on...
InfoBytesKansas extends remote work guidance for certain licensees
On August 27, the Kansas Office of the State Bank Commissioner extended its remote work guidance , previously covered here and here , for mortgage companies, mortgage loan originators, supervised loan licensees, credit services organizations, money transmitters, and credit notification registrants...
InfoBytesAgencies extend foreclosure moratorium and other Covid-19 flexibilities
On August 27, Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac will extend their moratorium on single-family foreclosures and real estate owned (REO) evictions until at least December 31 (which was set to expire on August 31, previously covered here ). The foreclosure...
InfoBytesSBA clarifies PPP forgiveness for certain business owners, non-payroll costs
On August 27, the Small Business Administration (SBA) issued a new interim final rule (IFR), which provides additional guidance for Paycheck Protection Program (PPP) lenders on the treatment of business owners and the forgiveness of certain non-payroll costs. The new IFR specifies that “owner-...
InfoBytesAgencies finalize three pandemic-related rules
On August 26, the Federal Reserve Board , FDIC , and OCC finalized three rules that were temporarily issued in March and April to assist financial institutions during the Covid-19 pandemic. Highlights of the three rules include: Community Bank Leverage Ratio (CBLR) . The agencies adopted , without...
InfoBytesVA extends foreclosure and eviction moratorium for borrowers affected by Covid-19
On August 24, the Department of Veterans Affairs issued Circulars 26-20-30 and 26-20-29 , which extend foreclosure and eviction relief for borrowers affected by Covid-19, respectively. Specifically, properties secured by VA-guaranteed loans are subject to a moratorium on foreclosure through...
InfoBytesConnecticut extends eviction moratorium
On August 21, the Connecticut governor issued Executive Order No. 7000 , which, among other things, extends the eviction moratorium set forth in previous executive orders, subject to certain modifications (previously discussed here ). Pursuant to the modifications, a landlord of a dwelling unit is...
InfoBytesConnecticut Department of Banking extends work from home guidance for licensees
On August 21, the Connecticut Department of Banking issued a memorandum extending through December 31, 2020, its no-action position (previously discussed here and here ) with respect to various licensees temporarily working from home during Covid-19, provided that certain criteria set forth in the...
InfoBytesMaine governor launches grant program for small businesses and nonprofits
On August 20, the Maine governor launched a $200 million economic grant program to assist Maine small businesses and nonprofits. To qualify for a grant, a business or nonprofit must demonstrate financial relief need due to Covid-19 impacts or a related public health response. Additionally, the...
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