Mortgage Document Preparation Compliance Alerts

  • Federal, Arizona and New Jersey Regulatory Update

    December 31, 2009

    The federal financial regulatory agencies have recently issued forms and regulations affecting mortgage lenders.  The Arizona Department of Financial Institutions has issued a Regulatory Alert discussing modifications, and the New Jersey Department of Banking and Insurance has issued a Bulletin regarding licensing.  If you have any questions concerning this Memorandum, please contact Laura LaRaia.

    Final Model Privacy Form ...

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  • New York Regulations and Massachusetts and Rhode Island Bankruptcy Courts

    December 28, 2009

    The New York State Banking Department Banking Board (the “Board”) recently amended regulations governing advertising, application and commitment disclosures and procedures, and prohibited conduct by mortgage bankers and mortgage brokers.  The Bankruptcy Courts for the Massachusetts and Rhode Island Districts have amended their rules.  If you have any questions concerning this Memorandum, please contact Laura LaRaia.

     

    New ...

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  • New York Legislative Update

    December 22, 2009

    New York Senate Bill 66007

               

    The New York legislature recently amended its laws governing foreclosures and mortgage lending.  This Memorandum addresses provisions of Senate Bill 66007 effective December 15, 2009 and January 1, 2010.  We will later report on provisions of the Bill effective February 13, 2010 and April 14, 2010.  If you have ...

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  • Florida Legislative Update

    December 17, 2009

    FLORIDA SENATE BILL 2226

     

    Our July 7, 2009 Memorandum discussed provisions of Senate Bill 2226 effective July 1, 2009, which amended Florida’s laws on mortgage brokering and mortgage lending.  This Memorandum addresses provisions of the Bill related to Florida mortgage lending laws exempting certain persons and/or entities from the mortgage loan originator licensing requirements under the Federal Secure ...

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  • Federal Regulatory Update

    December 17, 2009

    The Federal Reserve Board and the Office of Thrift Supervision have recently issued guidances related to higher-priced mortgage loans and modifications.  If you have any questions concerning this Compliance Memo, please contact Laura LaRaia.

     

    Federal Reserve Board Consumer Affairs Letter 09-12: Short-Term Balloon Loans and Regulation Z

               

    For applications received on or after October 1, 2009, ...

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  • South Carolina Legislative Update

    December 16, 2009

    South Carolina Senate Bill 673 (effective January 1, 2010)

     

    The South Carolina legislature recently enacted the South Carolina Mortgage Lending Act (the “MLA”) and amended the laws governing mortgage brokers to become the Licensing of Mortgage Brokers Act (the “LMBA”) to comply with the Federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (the “S.A.F.E. Act”)....

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  • Colorado Legislative and Texas Case Law Update

    December 16, 2009

    The Colorado legislature has recently adopted the Uniform Power of Attorney Act (the “Act”).  The Texas Court of Appeals for the Fifth District recently issued an opinion concerning the validity of a lien on homestead property.  If you have any questions concerning this Memorandum, please contact Laura LaRaia.

               

    Colorado House Bill 1198 (effective January 1, 2010) ...

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  • Delaware Regulatory Update

    December 15, 2009

     

    Our July 14, 2009 Memorandum discussed Delaware Senate Bill 73, effective July 30 2009, which enacted the Delaware Secure and Fair Enforcement for Mortgage Licensing Act of 2009 (the “Act”) to comply with the Federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (the “S.A.F.E. Act”).  The Delaware State Bank Commissioner (the “Commissioner”) recently adopted regulations ...

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  • Washington Regulatory Update

    December 15, 2009

    Washington Rules Ch. 208-620 (effective January 1, 2010)

     

    “Depository institution” means any bank or savings institution, including credit unions.

     

    “Director” means the Director of the Department of Financial Institutions.

     

    “Federal banking agencies” means the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, the Director of the Office of Thrift Supervision, the ...

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  • Colorado House Bill 1207

    December 14, 2009

    Colorado House Bill 1207

     

    The Colorado legislature recently amended its foreclosure laws affecting the procedures to enforce a lien related to real property.  Our September 9, 2009 Memorandum discussed the provisions of the Bill that were effective September 1, 2009.  This Memorandum discusses the provisions of the Bill effective January 1, 2010.  If you ...

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