Juneteenth holiday sparks chaos for lenders, LOs

This article first appeared in the June 18th newsletter Lending Life. Sign up here to receive each weekday. On Thursday, President Joe Biden signed a bill into law, declaring June 19th, or Juneteenth, a federal holiday. Biden’s order commemorates the date the last enslaved African-Americans were informed that they were

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The housing market outsmarted the foreclosure crisis

For Jason Vanslette, a lawyer who specializes in foreclosure litigation, everything came to a screeching halt on March 27, 2020. President Donald Trump had just signed the CARES Act into law, and with it, a moratorium on foreclosures and evictions had locked into place. Vanslette, a partner at Kelley Kronenberg

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With a reinvigorated CFPB, what’s next for the NYDFS?

Through a stroke of lucky timing, the New York Department of Financial Services (NYDFS) had gained traction with a reorganized and strengthened consumer advocacy mission just before the COVID-19 pandemic erupted in early 2020. Homeowners, renters, borrowers, lenders and mortgage servicers had one less thing to worry about as they

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House flipping hits lowest level since 2000

Only 2.7% of all home sales in the first quarter of 2021 were flips — or one in 37 transactions, the lowest level since 2000. Per a report from ATTOM, a national property database, 32,526 single-family homes and condominiums in the U.S. were flipped in the first quarter. That number is down

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