July, 2017
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Delaware Extends Foreclosure Mediation Program
Effective immediately, Delaware has extended the Delaware Automatic Residential Mortgage Foreclosure Mediation Program. Previously, the foreclosure mediation program was to sunset January 18, 2018. Through the extension, the program will continue to run until January 18, 2020.
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Hawaii Modifies Provisions Regarding Mortgage Originator Licensing Requirements
The state of Hawaii has recently passed Senate Bill 951, which updates the state’s mortgage loan origination law with regard to licensing requirements. These updates are effective as of September 1st, 2017.
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Rhode Island Amends Provisions Regarding Mortgage Foreclosure and Sale
The state of Rhode Island has recently amended Section 34-27-6 of the General Laws in Chapter 34-27, which relates to mortgage foreclosure and sale. These updates are effective immediately.
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North Carolina Clarifies Process for Correcting Nonmaterial and Descriptive Errors in Recorded Instruments of Title
North Carolina House Bill 584 serves to clarify the process for correcting nonmaterial errors in recorded instruments of title, creates a curative procedure for obvious description errors in documents of title, and creates a seven-year curative provision for certain defects in recorded instruments of title. The act is effective August 31, 2018, and applies to curative affidavits filed on or after that date.
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Georgia Department of Banking and Finance Adopts Mortgage Servicing Rules
The State of Georgia Department of Banking and Finance (“the Department”) has adopted rules regarding mortgage servicing standards and records retention, effective July 19, 2017.
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Ohio Amends Required Disclosure at Closing
The Ohio Office of Attorney General, Consumer Protection, amended provisions relating to the required disclosure at closing. These provisions are effective on July 20, 2017.
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Montana Amends Multiple Mortgage Lending Licensing Provisions
The Montana Department of Administration amended its rules relating to surety bond, table funding, application of financial standards, and reporting forms for mortgage servicers. These provisions became effective July 8, 2017.
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Maryland Amends Requirements for Mortgage Lender Licensee and Loan Originator Numbers
Effective July 3, 2017, Maryland adopted amendments to change requirements for loan originators and mortgage lender licensee numbers.
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Rhode Island Enacts Provisions Regarding Mortgage Fraud
The General Assembly of the state of Rhode Island has amended Chapter 11-18 of the General Laws, which relates to residential mortgage fraud. These new provisions are effective immediately.
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Connecticut Amends Provisions Concerning the Uniform Power of Attorney Act and Discriminatory Practices Against Veterans
Connecticut amended its provisions concerning discriminatory practices against veterans. These provisions are effective on October 1, 2017. Connecticut amended its provisions concerning its Uniform Power of Attorney Act. Provisions in the bill became effective on July 1, 2017.