Loan Servicing (Master & Primary)
Stites & Harbison's attorneys have extensive experience representing master and primary servicers in all areas of traditional and CMBS loan servicing. The attorneys in the firm's Creditors' Rights, Real Estate & Banking, and Capital Markets practice groups have a collective depth of experience that allows us to handle a broad spectrum of master and primary servicing, from partial releases and extensions to loan assumptions and modifications.
In addition to our comprehensive loan-servicing practice, our well-established and comprehensive representation of CMBS originators makes us uniquely qualified to represent services in the CMBS industry. Since 1998, Stites & Harbison's Capital Markets attorneys have closed more than 2,150 loans in 49 states, totaling more than $20.5 billion in volume.
Simply stated, we understand capital-markets loan transactions.
Finally: The CFPB Has Returned . . . to the Final Rule Implementing the FDCPA in the 21st Century
On Friday, October 30, 2020, the Consumer Financial Protection Bureau (“CFPB”) issued a new, long-awaited final rule to bring the Fair Debt Collection Practices Act (“FDCPA”) regulations into the 21st century. In announcing the change, the CFPB had the same idea as me: distinguishing the differences between pop culture and collection practices in 1977 and 2020.
GSEs Announce New Fee for Consumer Residential Loan Refinances: Lenders Brace for Added Costs and Potential Compliance Concerns
On August 12, 2020, the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”) delivered a harsh blow to lenders and consumers in the residential mortgage market when they announced they would impose a .5% fee (i.e., a 1/2 “point” in mortgage finance parlance) on refinance mortgages purchased by Fannie Mae and Freddie Mac after September 1, 2020.