July, 2016
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Ohio Creates the D.O.L.L.A.R. Deed Program
Ohio has created a program which provides a loss mitigation alternative for borrowers in default on their mortgage. This creative program gives those struggling to pay their mortgages an unconventional way to maintain and reclaim rights and possession of their real property. Sections 5315.01, 5315.02, 5315.03, 5315.04, and 5315.05 of the Revised Code create the D.O.L.L.A.R. Deed Program.
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Ohio Amends the Foreclosure Process for Properties Vacant and Abandoned
The state of Ohio has amended provisions regarding its judicial foreclosure process as part of a bill signed by the governor on June 28th, 2016. Though the bill amends, enacts, and repeals many provisions, the scope of this article will focus on provisions that were enacted to improve the process of foreclosure.
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North Carolina Updates Filing Fees
Effective October 1st, 2016 general assembly of North Carolina session 2015 session law 2016-86 senate bill 19 S19-v-5 updates fees for filing a deed of trust so that they are compliant with the Truth in Lending Act.
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FHA Publishes Lender Insight, Highlights Quality Control Findings
Since its launch Lender Insight has featured quarterly loan level findings data by presenting the initial ratings of all loans along with the updated ratings as of six months from the end of the review period. Additionally, for the past year, each of the top 50 by volume lenders has received an individualized loan review findings report depicting a quarter-by-quarter snapshot of the results of FHA’s post-endorsement technical review of the company’s loan production.
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Texas Adopts Technical Regulatory Amendments
Effective June 30, 2016, the Texas Legislature has adopted several technical amendments to various provisions relating to Mortgage Bankers, Residential Mortgage Loan Servicers and Residential Mortgage Loan Originators in order to provide clarification and to improve grammar and readability.
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Pennsylvania Amends Powers of Attorney
Pennsylvania amended its statutory provisions that relate to powers of attorney. The effective date of these changes varies from immediately through January 1, 2017.
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Missouri Revises Statutes Regarding Notaries
Missouri Senate Bill No. 932 repeals certain sections of statutes related to notary publics and replaces them with new sections. Sections 370.230, 486.245, 486.275, 486.285, 486.305, 486.310, and 486.375, RSMo, are repealed and eight new sections enacted in lieu thereof, to be known as sections 370.230, 375.971, 486.245, 486.275, 486.285, 486.305, 486.310, and 486.375.
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Hawaii Fiduciary Access to Digital Assets Act
Effective Immediately Hawaii has enacted Senate Bill 2298, the ‘Uniform Fiduciary Access to Digital Assets Act’. The Act allows a fiduciary acting under a will or power of attorney, a personal representative of a decedent, a conservator, or a Trustee of a trust to compel disclosure of a digital asset from a custodian who stores […]
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The District of Columbia Revises its Notary Public Regulations
On June 15, 2016, the District of Columbia Office of the Secretary repealed and replaced Ch. 24 of Title 17 of the District of Columbia Municipal Regulations dealing with Notaries Public. The revised rules are effective July 1, 2016. 2400 Appointment of Notaries The District of Columbia Office of the Secretary, Office of Notary Commissions […]
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North Carolina Enacts Revised Uniform Fiduciary Access to Digital Assets Act
Effective June 30th, 2016 North Carolina enacted the Revised Uniform Fiduciary Access to Digital Assess Act. Additionally, North Carolina has adopted a new template for its Power of Attorney sample. Applicability The Act delineates the following individuals as those whom it applies to. It is important to note that the Act applies to the following […]