Mortgage Document Preparation Compliance Alerts

  • Maine Legislative Update

    September 23, 2015

    The Maine legislature recently enacted laws governing lender responsibility for abandoned property, effective October 15, 2015.

     

    MAINE LEGISLATIVE DOCUMENT 1203/SENATE PAPER 430

     

    "Property Defects" means the conditions that, in the judgment of the municipality, contribute to blight as a result of the continued lack of care, maintenance or security of a property.

     

    "Responsible Parties" means the owner ...

    Full story

  • Colorado Regulatory Update

    September 22, 2015

    The Colorado Department of Regulatory Agencies, Division of Real Estate (“Division”), recently promulgated rules related to mortgage loan originator and mortgage company licensing, effective October 3, 2015.

     

    4 CCR 725-3

     

    “General Business Day” means a day on which the offices of the creditor are open to the public carrying on substantially all of the creditor’s business functions.

     ...

    Full story

  • North Carolina Legislative Update

    September 18, 2015

    The North Carolina legislature recently amended its general laws relating to notice requirements and protections for tenants of real properties in foreclosure, effective October 1, 2015.

     

    NORTH CAROLINA HOUSE BILL 174

     

    Notice of Sale/Occupants

    The existing law includes a requirement for mailing a notice of sale of residential real property containing less than 15 rental units to persons ...

    Full story

  • Rhode Island Regulatory Update

    September 17, 2015

    The Rhode Island Department of Business Regulation recently amended Banking Regulation 5, related to Mortgage Foreclosure, effective October 1, 2015.

     

    RHODE ISLAND BANKING REGULATION 5

     

    The existing regulation and Appendices have been amended as follows:  All current forms are available on the Department’s website at: http://www.dbr.state.ri.us/documents/rules/banking_securities/Regulation5.pdf.

     

    “Notice of Mediation Conference” means Form 34-27-3.2 or a ...

    Full story

  • Texas Regulatory Update

    September 16, 2015

    The Finance Commission of Texas recently adopted new rules for the Office of Consumer Credit Commissioner (“OCCC”) related to residential mortgage loan originator licensing, effective September 10, 2015.

     

    7 TAC 2.106

     

    After an applicant submits a complete application to Nationwide Mortgage Licensing System (“NMLS”), including a set of fingerprints, and pays the required fees, the OCCC will investigate ...

    Full story

  • Montana Legislative Update

    September 14, 2015

    The Montana legislature recently made various amendments to the Montana Mortgage Act (the “Act”) and amended its laws governing the disposition of proceeds from a trustee sale, effective October 1, 2015.

     

    MONTANA SENATE BILL 98

     

    Advertising now includes social media and software.

     

    “Clerical or Support Duties” includes:

    • The receipt, collection, distribution, and analysis of information common for ...

    Full story

  • Nevada Legislative and Regulatory Update

    September 11, 2015

    The Nevada legislature recently amended its laws governing foreclosure of liens by a homeowners’ association, the recording of a conveyance after a deed in lieu of foreclosure, and liens on real property, effective October 1, 2015.  The Division of Mortgage Lending issued a memo on August 12, 2015 revising the disclosure forms to be provided by mortgage brokers to ...

    Full story

  • Florida Legislative and California Regulatory Update

    September 10, 2015

    The Florida legislature updated a provision related to public records effective October 1, 2015.  The California Department of Business Oversight recently amended the regulations for Finance Lenders and for Residential Mortgage Lenders with respect to the testing and education requirements for licensed loan originators, effective August 19, 2015.

     

    FLORIDA SENATE BILL 7012

     

    The Florida legislature recently repealed ...

    Full story