The Supreme Court of Appeals of West Virginia issued an administrative order on Sunday, March 22 that covers public health and safety concerns related to the coronavirus (“COVID-19”). In it, the Court recognizes “the current COVID-19 crisis creates an unprecedented public health emergency that requires immediate action to encourage effective social distancing and reduce the
As the coronavirus (“COVID-19”) epidemic and its impact on the United States market continues to evolve, the Financial Industry Regulatory Authority, Inc. is granting “temporary” relief to broker-dealers and registered securities firms in its issuance of Regulatory Notice 20-08, reminding FINRA-member firms of their business continuity planning duties and obligations during the pandemic. Specifically,
Freddie Mac announced on March 18 that it is taking action to protect those affected—either directly or indirectly—by the coronavirus (“COVID-19”) pandemic. Freddie Mac announced a nationwide suspension of all foreclosure sales and evictions of borrowers living in homes owned by the company.
It also announced additional mortgage relief options, including an expansion of its
As the education sector continues to respond to the coronavirus (“COVID-19”) pandemic, on March 30, United States Secretary of Education Betsy DeVos announced several initiatives designed to bring “meaningful relief” to students and families.
First, all federal student borrowers can ask their loan servicers to temporarily postpone their payments.
Additionally, if a borrower is more
In response to economic concerns due to widespread closures caused by the coronavirus (“COVID-19”), on Sunday, March 15, Los Angeles Mayor Eric Garcetti issued an executive order putting a moratorium on evictions. Following Mayor Garcetti’s lead, California Gov. Gavin Newsom signed a statewide executive order stopping evictions and foreclosures for people affected by the disease
In his press conference on March 23, Virginia Gov. Ralph Northam announced sweeping new restrictions on public gatherings and business operations as part of the ongoing effort to combat the coronavirus (“COVID-19”). The new restrictions go into effect at 11:59 p.m. on Tuesday, March 23, and remain in place for 30 days. The press release
In light of the coronavirus (“COVID-19”) and its impact on business operations, it is important to be aware that Telephone Consumer Protection Act restrictions on calling or texting consumers for a commercial purpose still apply. These national restrictions include rules governing consent to contact cellular telephones and rules regarding revocation of consent. Moreover, certain
The United States Department of Housing and Urban Development has issued a partial waiver of 24 CFR 203.604, the provision that requires mortgagees to establish face-to-face contact with borrowers during default and loss mitigation intervention. This suspension, which is stated to last for one year, was issued in response to public concerns over the spread
In the wake of many cities issuing tighter restrictions to slow the spread of the coronavirus (“COVID-19”), the Cybersecurity and Infrastructure Security Agency (“CISA”) has issued guidance on the identification of “essential critical infrastructure workers.” It is important to ensure continuity of functions that are critical to public health and safety, as well as economic
On March 18, the Court of Appeals of Maryland has stayed all residential foreclosures and evictions during the coronavirus (“COVID-19”) pandemic. The Court determined that the “[e]scalation of the emergency has required comprehensive measures to protect the health, safety, and well-being of Maryland residents and judiciary personnel.” The Court further ruled that all “[f]oreclosures of