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Non-Qualified Mortgage Loans
This content has been archived. It may no longer be relevantOffit Kurman financial compliance attorney Ari Karen maintains a weekly blog, “Compensation and Compliance Matters,” on the National Mortgage News website. In one of his most recent posts, “Non-Qualified Mortgage Loans Interest Ramping Up,” Mr. Karen discusses the need for lenders to institute “proper policies…
Read|Delete – 1.21.14
Our lives begin to end the day we become silent about things that matter.” -Dr. Martin Luther King, Jr. Source: Martin Luther King, Jr., I Have A Dream: Writings and Speeches that Changed the World (James. M. Washington, ed.) San Francisco: Harper Collins, 1992.
Compliance and Compensation Matters – January 22, 2014
Latest Consent Decree a Wake-Up Call on Marketing Agreements A Consent Decree filed last week by the Consumer Financial Protection Bureau involving a small Missouri lender is yet another wake-up call about the CFPB’s willingness to go after small lenders. It also illustrates its focus on the intent of marketing agreements, as opposed to…
What is a Spendthrift Trust? Asset Protection in a Divorce
When in the midst of a divorce, things can get rather ugly. In some cases, a divorcing spouse will even try to pierce a third party Spendthrift Trust. To make matters worse, several states, such as Delaware, have public policy and laws in place that allow a divorcing spouse to do exactly that. The rights…
Selling a Company and the Importance of a Letter of Intent
As you may recall from our previous blog, “From Exit Planning to Acquisition: How Deals Get Done,” Offit Kurman both participated in and co-sponsored the seventh annual Baltimore Business Journal (BBJ) “Knowledge is Power” quarterly breakfast speaker series on Friday, December 6, 2013 at the Hotel at Arundel Preserve. The BBJ welcomed four distinguished panelists, including…
The Weekly Scenario from Steve Shane – 1.20.14
Question: Can my revocable living trust be named as a beneficiary of my IRA? Answer: A trust can be named as a beneficiary of an IRA. However, since a trust is not a human being, and therefore does not have a life expectancy as such, it is important that the trust qualify as a designated…
Friday Factoid – 1.17.14
The creators of certain works of visual arts retain during their lifetime moral rights relating to their works, even after they transfer ownership of the works. Moral rights include the right to claim authorship of the work, the right to prevent the distortion or mutilation of the original work, and the right to prevent use…
Offit Kurman No. 13 on Baltimore Business Journal List of Largest Law Firms
You may remember from our blog last year that the Baltimore Business Journal ranked Offit Kurman among the “largest law firms in the Baltimore Area.” It’s a new year and we are pleased to announce that Offit Kurman is once again ranked among the largest law firms in the area, coming in at No. 13….
Legal Q&A: January 16, 2014
QUESTION Do I owe “resignation” pay if my employee gave notice and I no longer want him to work? ANSWER Unless there is an employment contract or a collective bargaining agreement in place that governs terms and conditions of employment, Maryland employees are at-will, meaning they can resign or be terminated at any point….
Compensation and Compliance Matters – January 16, 2014
Non-Qualified Mortgage Loans Interest Ramping Up If you tell the average person that a new law requires lenders to have a good faith belief that a borrower can repay a loan they make, the reaction is quite predictable: “Wouldn’t a lender only make a loan they thought could be repaid?” That response, which I have…
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