May, 2016

  • Fannie Mae Updates Credit Data Trending and Other Guide Topics

    By Anna DeSimone May 31, 2016, Fannie Mae issued Ann. SEL-2016-04: Selling Guide Updates. The complete announcement has been reproduced below: The Selling Guide has been updated to include changes to the following: Modifications of Single-Closing Conversion of Construction-to-Permanent Loans DU Version 10.0 Risk Factors and Credit Data Changes Lender Self-Report Obligations Related to Compliance […]

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  • U.S. House Passes Bill to Change SAFE Licensing Rules

    By Anna DeSimone SAFE Transitional Licensing Act of 2015 moves to SenateMay 22, 2016, the United States House of Representatives passed a bill named the SAFE Transitional Licensing Act of 2015. The act will permit registered loan originators to move to another state to continue originating loans for as long as 120 days while applying […]

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  • Maryland Updates Mortgage Loan Officer Licensing Requirements

    By Adam Faria, J.D.Effective July 1, 2016, Maryland Senate Bill 87 amends certain Mortgage Loan Officer licensing requirements as they relate to fingerprints for use by the Criminal Justice Information System Central Repository of the Department of Public Safety and Correctional Services (Central Repository). Senate Bill 87 also repeals the requirement that the Commissioner waive […]

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  • Delaware Updates Lender and Broker Licensing Requirements

    Effective as of May 09, 2016, Delaware amended and repealed in part Title 5 Section 122 of the Delaware Code relating to financial institutions. I. The Commissioner’s Powers Due to recent amendments, the Commissioner’s powers have been expanded. Firstly, the Commissioner or the Commissioner’s lawful designee may examine the performance of financial institution services on behalf […]

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  • Arizona Amends Provisions Regarding Judgment Liens of Real Property and Enacts Provisions Regarding Revised Uniform Fiduciary Access to Digital Assets Act

    Arizona amended its provisions regarding judgment liens on real property. Arizona also enacted provisions regarding its Revised Uniform Fiduciary Access to Digital Assets Act.  These provisions are effective on August 6, 2016 or 91 days following adjournment of the legislative session. Arizona revised statutes relating to judgment liens on real property Section 33-961 Filing judgments […]

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  • Connecticut Amends Provisions Regarding Housing Discrimination and Fair Housing Laws

    Connecticut amended its provisions by requiring the Commission on Human Rights and Opportunities to create a one-page disclosure form containing information on housing discrimination and Federal and state fair housing laws.  Additionally, it requires persons offering residential property containing two or more units for sale, exchange, or for lease with an option to buy, to […]

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  • Georgia Modifies Provisions Regarding Banking and Finance

    Georgia modified multiple provisions relating to banking and finance.  These provisions are effective on July 1, 2016. Mortgage Lenders and Brokers The amendments replaced the phrase “Nationwide Mortgage Licensing System and Registry” with “Nation-wide Multistate Licensing System and Registry” in the following code sections: Code Section 7-1-1000, relating to definitions relative to mortgage lenders and […]

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