June, 2017
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Minnesota Amends Recording Requirements Relating to Real Property
The Minnesota legislature passed House File 46, a bill concerning the recording of documents relating to real property. The amendments therein set forth new requirements and clarifications concerning the filing of certificates of value, recording, registration, use of electronic documents and other provisions affecting real estate.
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Oklahoma Amends Provisions under Consumer Credit Code
The state of Oklahoma has recently enacted Senate Bill No. 467 regarding the Consumer Credit Code and the Department of Consumer Credit, with an effective date of July 1, 2018.
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Maryland Adopts Various Changes Affecting Mortgage Lending
Recent Maryland Mortgage Lending Regulatory updates include the Uniform Electronic Legal Materials Act, Mortgage and Deeds of Trust Recording, the Personal Information Protection Act and Surety Bond Liability
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CFPB Issues Notice of ATR/QM Assessment and Requests Comment
May 25, 2017, the Consumer Financial Protection Bureau released details of its plan to assess the 2014 Ability to Repay (ATR) and Qualified Mortgage (QM) Standards (ATR/QM Rule) and requested comments. Comments are due by July 31, 2017.
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Nevada Adopts Provisions on Fiduciary Access to Digital Assets
Nevada has enacted provisions regarding its Revised Uniform Fiduciary Access to Digital Assets Act. These provisions are effective as of October 1, 2017.