Archive: 15 January 2015

1
Webinar: Navigating the New HUD Origination Handbook
2
Massachusetts Supreme Judicial Court Rejects Municipal Foreclosure Ordinances

Webinar: Navigating the New HUD Origination Handbook

27 January 2015

2:00 – 3:30 p.m. EST

With the New Year comes impending changes to FHA origination, underwriting, and closing guidelines in the form of HUD’s updated FHA’s Single Family Housing Policy Handbook 4000.1. As announced on September 30, 2014, FHA’s origination through post-closing and endorsement sections of its new Single Family Housing Policy Handbook will be effective for FHA-insured loans with FHA Case Numbers assigned on and after June 15, 2015. With less than six months until these new requirements go into effect, mortgagees need to focus on these important requirements that will govern origination through post-closing and endorsement. It is imperative that mortgagees familiarize themselves with the new lending guidelines and ensure that their systems, procedures, underwriting practices, and personnel will be ready to go by June 15, 2015. Quality Control departments would also benefit from a review of these requirements, as they may need to amend their review processes to identify and resolve any findings of noncompliance with the amended guidelines.

On Tuesday, January 27, 2015, from 2 p.m. to 3:30 p.m. EST K&L Gates will sponsor a webinar in which we will discuss the most significant changes to HUD origination and underwriting requirements included in the new Handbook. We will leave time at the end of the webinar to answer your questions. We hope you will be able to join us.

Presenters:

Phillip L. Schulman, Partner, Washington, D.C.

Krista Cooley, Partner, Washington, D.C.

Holly Spencer Bunting, Partner, Washington, D.C.

Emily J. Booth-Dornfeld, Counsel, Washington, D.C.

To RSVP, click here.

Massachusetts Supreme Judicial Court Rejects Municipal Foreclosure Ordinances

By: Gregory N. Blase, David D. Christensen, Matthew N. Lowe

Can a Massachusetts municipality impose ordinances on banks that are more onerous than existing statewide law? In a recent landmark decision, the Massachusetts Supreme Judicial Court (“SJC”) answered “no.” In Easthampton Savings Bank v. City of Springfield,[1] the SJC held that two ordinances, through which the City of Springfield (“Springfield”) sought to make foreclosures more difficult, were preempted by the Massachusetts Constitution. The Easthampton Savings Bank decision should serve to curtail municipalities’ attempts to impose regulations that are more stringent than those imposed by statewide law and—in welcome news to banks and investors—restore a degree of consistency in conducting foreclosures in Massachusetts.

To read the full alert, click here.

Copyright © 2019, K&L Gates LLP. All Rights Reserved.