On Tuesday, August 29, 2017, the Department of Housing and Urban Development (HUD) announced that it is changing the requirements for its reverse mortgage program. The changes are expected to help protect taxpayers while still pursuing the mission of the program. The purpose underlying the changes is to protect other programs in place that are

By: Marty B. Ellis On June 1, 2015, in two consolidated cases (Bank of America, N. A. v. Caulkett and Bank of America, N. A. v. Toledo-Cardona), the Supreme Court of the United States ruled that in a bankruptcy liquidation Chapter 7 proceeding, the debtor cannot void a second mortgage when the value of the

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On January 13, 2015, the United States Supreme Court issued an opinion in a case captioned Jesinoski et ux v. Countrywide Home Loans, et al., (October term, 2014 – No. 13-684) interpreting the rescission provisions applicable to mortgage loans under the Truth-in-Lending Act, 15 U.S.C. §§ 1601 et seq. and Regulation Z, 12 C.F.R. Part

Shumaker Williams, P.C. Securities Law Practice Group By Jane G. Davis Companies, including bank holding companies, looking to raise capital through the sale of securities, must either register the securities with the Securities and Exchange Commission (the “SEC”) or rely on an exemption from registration.  In some instances, the securities laws of the states in

Shumaker Williams, P.C. Financial Services Practice Group  By Paul A. Adams* The Office of the Comptroller of the Currency (“OCC”) has recently published two bulletins, OCC 2013-33 and OCC 2013-39 on risk management of third party vendors.  The first is generalized guidance for assessing and managing risks associated with third party relationships which replaces its

By Jane G. Davis Shumaker Williams, P.C. The Jumpstart Our Business Startups Act (the “JOBS Act”) enacted in April 2012 provides for a new method of raising capital without requiring registration of the offering with the Securities and Exchange Commission (the “SEC”).  The securities offered will also be exempt from state registration requirements and, in

by Martin B. Ellis In the world of modern banking, most banks give customers same-day or next-day availability for both local and non-local check deposits.  The vast majority of these “provisional” credits are finalized by the ultimate collection of the checks which gave rise to them.  The ability to write checks against such provisional credits gives a

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