SCOTUS Watch: We’re still waiting for the Supreme Court to issue its disparate-impact ruling in Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc. The central issue here is whether disparate-impact claims are cognizable under the Fair Housing Act. A decision could come any day, so stay tuned… …
If you are advertising or marketing mortgage products in Spanish, compliance experts suggest you should provide all requisite disclosures and servicing in Spanish.
The non-cash share of financing for home purchases increased to 75.2 percent in May, according to results from the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.
A ruling late last week by the New York Court of Appeals will likely help provide certainty to non-agency MBS issuers regarding liability from breaches of representations and warranties while limiting claims from investors. The appeals court confirmed a lower court’s ruling in ACE Securities v. DB Structured Products, determining that the statute of limitations for claims of breaches of representations and warranties starts when a deal is closed – not when a potential breach is discovered. “Representations and warranties concern...