The Illinois legislature recently amended its laws to allow independent escrowees to issue closing protection letters, effective September 8, 2017. Illinois House Bill 2702 “Insured Closing Letter” or “Closing Protection Letter”...
The Consumer Financial Protection Bureau (the “CFPB”) issued a supervisory statement on September 6, 2017, to help supervised entities work with consumers who may be at financial risk due to...
The Alaska, Montana and Nevada legislatures have adopted the Revised Uniform Fiduciary Access to Digital Assets Act. The uniform act has been enacted in various states on which we have...
The Consumer Financial Protection Bureau (“CFPB”) issued Compliance Bulletin 2017-01 on July 31, 2017 providing guidance regarding fees for pay-by-phone services. The Utah Division of Real Estate recently amended its...
The South Carolina legislature recently amended its state laws relating to mortgage lending definitions, effective September 16, 2017. South Carolina Senate Bill 366 “Loan Correspondent” means a person engaged in the...
The Texas legislature amended its laws relating to the sale of property under a power of sale in a deed of trust or other contract lien, under a writ of...
The Maine legislature recently amended its law that protects a homeowner’s equity of redemption in a foreclosure action. The Maine Consumer Credit Code (the “Code”) was amended to improve the...
The Hawaii legislature recently amended its laws related to mortgage servicing and mortgage loan origination. Both bills discussed in this memorandum are effective September 1, 2017. Hawaii Senate Bill 950 If...
The Missouri legislature recently amended its laws to permit banks to charge a convenience fee and to clarify office requirements related to residential mortgage loan brokers who originate loans for...
Georgia Rules Chapter 80 The Georgia Department of Banking and Finance (the “Department”) adopted Final Rules, which were filed with the Secretary of State on June 29, 2017, to be effective...
