Recent Issue

Over the past decade, California courts (both State and Federal) have struggled with the question of whether, and to what extent, a lender or loan servicer could be liable for negligence handling a borrower’s loan. Nowhere has this struggle been more aggressive than in connection with loan modifications. The California Supreme Court, in a hotly contested case (for which Wright, Finlay & Zak was pleased to submit an amicus brief on behalf of several industry groups) has just resolved that struggle in favor of the lenders and servicers.

Jane Kennedy has joined Pittsburgh-based Mortgage Connect LP as SVP of Sales and Strategy for the company’s Default Division, where she will oversee the progression of key initiatives, including enhancing the company’s line of default services. In addition, Kennedy will also lead Mortgage Connect’s National Default Sales team.

McCalla Raymer Leibert Pierce LLP (MRLP) has announced its Northwest expansion with the opening of its newest office in Clackamas, Oregon.

During the pandemic lockdown, an unprecedented number of borrowers suddenly entered into forbearance plans as state and local governments issued stay-at-home orders, shutting down economies and preventing many Americans from being able to go to work.

On April 19, the Five Star Institute presented its latest webinar discussing the benefits of sub-servicing, how to navigate and ensure compliance with government regulations, and on how to maximize ROI for all parties.

Don Layton, the current Senior Industry Fellow at the Joint Center for Housing Studies at Harvard University—and former CEO of Freddie Mac—released a new column on the policymaking implications of record-high mortgage origination profits during the pandemic he authored after the release of the Mortgage Bankers Association (MBA) Annual Mortgage Bankers Performance Report.  Citing the MBA’s report, the “net […]

Prior to joining the Fed in 2007, Larry Cordell worked in the mortgage industry at Radian Group and Freddie Mac. Upon joining the Fed, Cordell was a special advisor during the financial crisis and focused on several key Federal Reserve System initiatives, including the conservatorship of Fannie Mae and Freddie Mac, the Supervisory Capital Assessment Program (SCAP), and the Comprehensive Capital Analysis and Review (CCAR) exercises.

President Biden appointed Sandra L. Thompson as Acting Director of the Federal Housing Finance Agency (FHFA) on June 23, 2021, capping a long career within government that included serving as Deputy Director of the Division of Housing Mission and Goals (DHMG) since March 2013. In that role, Thompson oversaw FHFA’s housing and regulatory policy, capital […]