We're Committing Additional Resources to our Business Continuity and Pandemic Response Plans to Better Protect
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The leadership of Padgett Law Group (PLG) is closely monitoring developments related to the novel coronavirus, COVID-19, currently affecting communities across the country and throughout the world. PLG has activated the firm's Business Continuity and Pandemic Response Plans while committing new, additional financial, technological, and human resources to these efforts.
Today, PLG stands ready to respond actively to any threat to the firm's human capital, operations, and clients' interest and is prepared to operate at full capacity with a 100% remote, secured workforce. Update as of March 24, 2020: PLG operations have gone remote, with upwards of 90% of our workforce now operating from a secure, work-from-home status. All physical offices remain open with core, critical staff operating as-needed onsite. Certain critical, core functions must be performed in-office and the firm has a plan in place for employees who must operate siloed in PLG offices even during a remote work environment. Regular deep cleanings, social distancing, and early response, as well as the firm's ongoing, proactive approach to employee health, are all contingencies built-in to the firm's plan. PLG leadership is monitoring daily updates from the federal government, financial services regulators, and the CDC, as well as other sources. Should the firm's Pandemic Response Plan be put into place over the coming weeks, clients will receive further communications; however, clients can expect no interruption to PLG operations or the firm's hands-on, client-focused service. |
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SERVICING
Servicing Moratoriums from GSEs, HUD, and VA |
FANNIE MAE
Click here for details on Fannie's announcement. FREDDIE MAC
Click here for details on Freddie's announcement. HUD/FHA
Click here for details on the HUD/FHA announcement. VETERANS' AFFAIRS (VA)
Click here for details on the VA's announcement. |
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LEGISLATIVE
Federal Legislative Response to Crisis |
S. 3548 CARES ACT
Status: Signed into Law On Friday, March 27, 2020 President Trump singed S. 3548 into law. The Coronavirus Aid, Relief and Economic Security Act (CARES Act) is the $2 trillion relief act introduced in the Senate on March 19, 2020. Click here for complete details on the bill from Congress.gov. H.R. 6201 FAMILIES FIRST CORONAVIRUS RESPONSE ACT
Status: Signed Into Law On March 18, 2020 President Trump signed H.R. 6201 into law. The bill was widely recognized as phase two of the federal government's coronavirus response. Click here for complete details on the bill from Congress.gov. H.R. 6074 CORONAVIRUS PREPAREDNESS AND RESPONSE SUPPLEMENTAL APPROPRIATIONS ACT
Status: Signed Into Law On March 6, 2020 President Trump signed H.R. 6074 into law. The bill was widely recognized as phase one of the federal government's coronavirus response. Click here for complete details on the bill from Congress.gov. |
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HUD/FHA
Loss Mitigation Guidance and Homeowner Help |
HUD has released new guidance to FHA lenders regarding loss mitigation options available to borrowers. Click here for the full letter from HUD.
HUD has released a Question & Answer Bulletin for homeowners seeking help due to COVID-19 hardship. Click here for the full borrower resource.
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HUD Releases Updates to Face-to-Face Requirements
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What: On March 13, 2020, the Department of Housing and Urban Development, released a temporary partial waiver as it relates to Face to Face Requirements.
What it Says: Under the waiver, Servicers, must stablish contact with the borrower, using alternative methods, e.g. phone interviews, email, video calling services, for example, Skype, Zoom, Webex, Microsoft Teams, Facetime, GoToMeeting, and other video conferencing technology, to meet the requirements to determine the borrowers circumstances and to determine the appropriate repayment plan, as well as to:
Does Not Apply Too: requirements that are still in place for the Section 248 insurance program. Length of Waiver: Limited to a 12 month period from the date of issuance (3/13/20). |
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EDUCATION
PLG Announces Six-Part Webinar Series to Meet At-Home Educational Needs for ClientsARCHIVE
Access recordings of our past webinar presentations here for continued legal education developed by PLG attorneys. Handling Texas Decedents Original Air Date March 2020 Watch it Now FHA Overview with Marissa Yaker Original Air Date November 2019 Watch it Now TX Expedited Foreclosures Original Air Date July 2019 Watch it Now Advanced: Manufactured Homes 2.0 Original Air Date November 2018 Watch it Now Manufactured Homes Original Air Date October 2018 Watch it Now Statement of Intentions Original Air Date August 2018 Watch it Now |
Bankruptcy Issues: Round Robin Discussion with PLG Panelists
Thursday, April 23 | 2:00 PM ET
This bankruptcy webinar looks at common servicing issues and our panel of attorneys in various PLG jurisdictions will discuss localized resolution strategies. Moderated by PLG's Managing Attorney of Bankruptcy, Keena Newmark, Esq., attendees will get a varied look at resolving POC plan controls; delays in trustee payments as they relate to MFRS; and objections to post-petition fee notices. Discuss resolution strategies with our panel of presenters in an open Q&A that will conclude the webinar. VA Conveyances: Timelines, Requirements & Deed Processes
Thursday, May 14 | 2:00 PM ET
Join Marissa Yaker, Esq. and Ryan Martinez, Esq. as they present on VA conveyance issues common to servicing these loans. Issues discussed will include one- or two-state deed requirements; timelines to have the property conveyed; addresses for tax purposes on deeds; and servicer requirements for contact with local tax authorities relating to transfer and conveyance. Close-out this webinar with an open Q&A between attendees and our presenters. Replevins: Issues and Challenges from a Multi-Jurisdictional Viewpoint
Thursday, June 4 | 2:00 PM ET
Join PLG’s Supervising Attorneys for Florida and Arkansas, Steven Hurley and Mitch Berry, who will discuss the basic replevin processes in their respective states, along with common problem areas for mortgage servicers, and review developing trends and strategies for resolving contested replevins as well as alternative remedies. An open Q&A between attendees and presenters will conclude the webinar presentation. Bankruptcy Focus: Chapter 11s and Related Litigation Trends
Thursday, June 25 | 2:00 PM ET
Chapter 11 bankruptcies can be notably complex files and PLG's two Chapter 11 specialists, Kris Zilberstein, Esq. and Kim Linden, Esq., will share the stage to discuss common issues and walk through various resolution strategies. Plus, our panel will discuss litigation trends and strategies drawn from their experience with Chapter 11 bankruptcies and the firm's national BK footprint. An open Q&A between attendees and presenters will conclude the webinar presentation. Title: A Close Look at Common Issues and Pitfalls to Watch Out For
Thursday, July 16 | 2:00 PM ET
Join PLG's Supervising Attorney of Title & REO Operations, Ryan Martinez, Esq. and General Counsel Laura Conrad, Esq., for this focused training on title issues and pitfalls. This guided learning course addresses many of the common problem areas throughout the title process. This training looks at liens, easements, encroachments, and considers common pitfalls in legal descriptions, litigation, and resolution timing. An open Q&A between attendees and presenters will conclude the webinar presentation. State Snapshot: Trends and Issues in Georgia, Ohio, and Florida
Thursday, August 6 | 2:00 PM ET
Join PLG's Supervising Attorneys for Georgia, Ohio, and Florida as they discuss state-specific hot topics. Moderated by Managing Attorney of Foreclosure, Marissa Yaker, Esq., this multi-state webinar will cover broad foreclosure trends and issues with a deep-dive into state-specific pain points like Georgia's attestation requirement; handling service transfers in Ohio; and Florida litigation. An open Q&A between attendees and presenters will conclude the webinar presentation. |
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