Home Lending Cos. Back Tribe In HUD Mortgage Battle
Law360 (June 12, 2019, 6:55 PM EDT) -- Two home mortgage lenders urged a federal court not to let the U.S. Department of Housing and Urban Development limit a Utah tribe's down payment financing for federally insured mortgages, saying HUD hadn't shown that the tribe's program is riskier than state agency financing.
In a proposed amicus brief Tuesday, Data Mortgage Inc. and American Financial Network backed the Cedar Band of Paiutes' request for an injunction on HUD's April 18 mortgagee letter, which included a provision that tribes can only provide down payment assistance, or DPA, for property located on tribal land or for tribal members.
Data Mortgage and AFN...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!