September, 2017
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Illinois Amends Predatory Lending Database Program Requirements
Illinois has modified the Predatory Lending Database Program of the Residential Real Property Disclosure Act, effective immediately.
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Freddie Mac Announces Credit Underwriting Changes
September 14, 2017, Freddie Mac issued Guide Bulletin 2017-20, announcing updates to several topics in the Single-Family Seller/Service Guide. This article includes a detailed description of changes pertaining to Credit Underwriting and a brief summary of other changes announced in the Bulletin. Assets as a basis for repayment of obligations The changes include, but are […]
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North Carolina Enacts Prohibition on Attorneys Serving as Trustees from Representing Noteholders or Borrowers while Initiating a Foreclosure Proceeding
North Carolina recently enacted House Bill 770, effective immediately. The Bill amends North Carolina General Statues § 45-10, Substitution of trustees in mortgages and deeds of trust.
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CLA-Bankers Advisory at the MBA’s Risk Management, QA & Fraud Prevention Forum in Miami, FL
Sarah Lagattolla, VP-Quality Control Services Director, and Kathleen Olson, Business Development Manager, for CLA-Bankers Advisory will be attending the MBA’s Risk Management, QA & Fraud Prevention Forum in Miami September 24th – 26th.
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Delaware Amends Recording Requirements for Mortgagee Changes of Notice Address
The Delaware state legislature has enacted Senate Bill No. 32 concerning the requirements for the recording of a mortgagee’s change of address for purposes of notice.
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Equifax Provides Tool for Consumers to Check Impact of Security Breach
September 7, 2017, Equifax Inc. announced a cybersecurity incident potentially impacting approximately 143 million U.S. consumers. Criminals exploited a U.S. website application vulnerability to gain access to certain files. Based on the company’s investigation, the unauthorized access occurred from mid-May through July 2017. The company has found no evidence of unauthorized activity on Equifax’s core […]