Compliance Alert Archive

• North Dakota and Oregon Legislative and Montana and New York Regulatory Udpate

  November 18, 2011

  The North Dakota legislature recently enacted legislation governing private transfer fees.  The Oregon legislature amended the Notice of Default.  The Montana Department of Administration, Division of Banking and Financial Institutions recently adopted a new rule addressing renewal fees for mortgage brokers, mortgage lenders, and mortgage loan originators and amended its rules addressing table funding.  The New York ...

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• Texas Legislative Update

  November 16, 2011

  The Texas legislature recently enacted House Bill 1228 addressing the payment and collection of assessments and other charges owed to a property owners’ association and foreclosure of a property owner’s association assessment lien.  Our Compliance Memorandum dated July 5, 2011 discussed the provisions of the Bill that were effective September 1, 2011.  This memorandum discusses the provisions ...

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• California and new York Legislative Udate and California Regulatory Update

  November 14, 2011

  The California legislature recently amended its foreclosure laws relating to language that must be included in the notice of sale notifying potential bidders of specified risks involved in bidding on property at a trustee’s sale and a notice to the property owner informing the owner about how to obtain information regarding any postponement of the sale.  The California Real ...

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• Alabama Legislative Update

  November 11, 2011

  The Alabama legislature recently enacted the Alabama Uniform Power of Attorney Act (the “Act”).  The Act is effective January 1, 2012.

   

  A power of attorney must be signed by the principal or in the principal’s conscious presence by another individual directed by the principal to sign the principal’s name on the power of attorney.  A signature ...

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• Arkansas Legislative Update

  November 10, 2011

  The Arkansas legislature recently enacted the Uniform Power of Attorney Act (the “Act”).  The Act is effective January 1, 2012.

   

  A power of attorney must be signed by the principal or in the principal’s conscious presence by another individual directed by the principal to sign the principal’s name on the power of attorney.  A signature of ...

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• Delaware Legislative Update

  November 09, 2011

  The Delaware legislature recently amended its laws to establish an Automatic Residential Mortgage Foreclosure Mediation Program (the “Program”) and to address complaints and answers regarding foreclosing a mortgage.  The legislation is effective January 1, 2012.

   

  These provisions will apply to mortgage foreclosure actions with respect to owner-occupied 1-to-4 family primary residential properties, unless the mortgage is held ...

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• California, Michigan, New Mexico and Texas Legislative Update

  November 03, 2011

  The California legislature recently amended the Business and Professions Code and the Financial Code governing mortgage loan originators and its laws governing the notice of recordation in Los Angeles County. Additionally, the California legislature enacted legislation addressing insurance producers and reverse mortgages.  The Michigan legislature recently enacted legislation addressing crimes related to falsifying real estate documents.  The ...

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