September, 2016
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Massachusetts Updates Mortgage Licensing Provisions
Effective immediately the Massachusetts Division of Banks has updated the provisions of 209 CMR 41 in order to clarify and reduce reporting requirements in part due to the NMLS.
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Massachusetts Adopts Truth in Lending Provisions
Massachusetts has adopted provisions under its Truth in Lending Act. These amendments are effective as of August 26, 2016.
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Illinois Adopts Provisions under the Real Estate License Act of 2000
The state of Illinois adopted new provisions and amended many parts of the Real Estate License Act effective September 2, 2016; these changes were made as a result of statutory changes as well as industry requested changes. This article will discuss some of the new sections added to the act.
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Texas Amends Regulated Lenders and Credit Access Provisions
The Texas Finance Commission, Office of Consumer Credit Commissioner, amended provisions under its chapter regarding Regulated Lenders and Credit Access Businesses. These provisions are effective on September 8, 2016.
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Massachusetts Amends Community Investment Provisions
Massachusetts has recently amended its statutory provisions relating to Mortgage Lender Community Investment. The amendments are effective as of July 29, 2016.