October, 2017
-
Preferred Language Question to be Added to New Uniform Residential Loan Application
October 20, 2017, Federal Housing Finance Agency (FHFA) announced its decision to add a preferred language question to the new Uniform Residential Loan Application (URLA). This question will enable borrowers who prefer to communicate in a language other than English to identify that language. It also provides clear disclosures that the mortgage transaction is likely […]
-
Montana Revises Definition of “Alter” Pertaining to Mortgage Loan Documents
The state of Montana has updated the definition of “alter” as used in MCA 32-9-124(1)(l).
-
Illinois Amends and Repeals Certain Provisions of the Residential Mortgage License Act
The Illinois Department of Financial and Professional Regulation adopted rules to repeal and amend certain portions of its Residential Mortgage License Act. The changes to Title 38 of the Illinois Administrative Code Section 1050 are effective immediately.
-
Delaware Amends Provisions Regarding Satisfaction of Mortgage
The state of Delaware amended its provisions relating to the authorization to satisfy a mortgage. These provisions are effective immediately.
-
CFPB Finalizes Equal Credit Opportunity Act Regulation
September 20, 2017, the Consumer Financial Protection Bureau (CFPB) modified Equal Credit Opportunity Act (Regulation B) regulations to provide additional flexibility for mortgage lenders in the collection of consumer ethnicity and race information.