BLT: April 2013

Business & Corporate

Our Mini-Theme: The CFPB's New Mortgage Origination and Servicing Rules

Nicole F. Munro

This BLT mini-theme is dedicated to the myriad of mortgage origination and servicing rules recently enacted by the CFPB.

Business & Corporate

The Bureau's Loan Originator Compensation Rule: Changes, Clarifications, Qualifications and More

Amy J. Durant

On January 20, 2013, the Consumer Financial Protection Bureau released its final rule regarding the loan originator compensation requirements under the Truth in Lending Act. It followed up by publishing the Rule in the Federal Register on February 15, 2013. Despite the Bureau's labeling of the Rule, it does more than implement statutorily required loan originator compensation changes.

Business & Corporate

An Overview of the Consumer Financial Protection Bureau's Ability-to-Repay and Qualified Mortgage Rule

Sanford Shatz

On January 10, 2013, the Consumer Financial Protection Bureau released its final Ability-to-Repay and Qualified Mortgage Rule, effective January 10, 2014. This article will look at that rule by first exploring the background and financial situation that led to the release of the rule, Congress' statutory enactments permitting the rule, and the final rule itself.

Business & Corporate

Recent Changes to HOEPA

Angela J. Cheek

On January 10, 2013, the Bureau of Consumer Financial Protection issued a final rule amending Regulation Z by expanding the types of transactions subject to the Home Ownership and Equity Protection Act of 1994, revising and expanding HOEPA thresholds, and imposing additional requirements on HOEPA loans. The final rule also amends Regulation Z and Regulation X by imposing homeownership counseling requirements.

Business & Corporate

The New World of Mortgage Servicing

Lynette I. Hotchkiss

On January 17, 2013, the Bureau issued two final mortgage servicing rules amending Regulation X (which implements RESPA) and Regulation Z (which implements TILA). These two rules change existing requirements and add numerous new requirements for mortgage servicers. This article provides only the briefest glimpse of the magnitude of the changes servicers must make before January 10, 2014.

Business & Corporate

The Impact of Corporate Restructuring on Foreign National Employees

Tali Orner

It is critical for in-house counsel to be aware of immigration-related issues that may arise as a result of a restructuring between companies that employ foreign nationals. Companies should work with competent and experienced immigration counsel early on in any transaction to ensure that they are in compliance with immigration regulations and to ensure that foreign national employees remain authorized to work in the United States.

Business & Corporate

Fair Value Accounting: Reinforcing Organizational Transparency and Accountability

The Securities and Exchange Commission recently has set its sights on registered entities and their officers and directors for overvaluing the entities' assets.

Business & Corporate

KEEPING CURRENT: Supreme Court Holds Proof of Materiality Not Required to Certify a Securities Fraud Class Action

On February 27, 2013, the Supreme Court held plaintiffs in a Rule 10b-5 securities fraud class action for damages need not prove materiality to obtain class certification.

Business & Corporate

DELAWARE INSIDER: Breacher Beware: Contract Damages in Delaware M&A Decisions

Jeffrey R. Wolters

The possibility of damages for breach of contract is sometimes overlooked - or if not overlooked, under-emphasized - in M&A transactions. Many of the best-known Delaware cases focus on breach of fiduciary duty, not breach of contract. However, several recent decisions highlight the risk and consequences of breach of contract.

Business & Corporate

Inside Business Law

This month’s IBL explores the Middle Market and Small Business Committee, the Consumer Financial Services Committee, and the Corporate Counsel Committee.