More about Adam Faria
Adam Faria, JD, is a regulatory compliance consultant with CLA. He is a graduate of Northeastern University and earned his juris doctor at Suffolk University Law School. He is admitted to the bar in Massachusetts and New Hampshire.
Blog Posts by Adam Faria:
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Texas Adopts Amendments Affecting Regulated Lenders
The Texas Office of Consumer Credit Commissioner has made a number of housekeeping changes to its rules under the Regulated Lenders and Credit Access Businesses chapter
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Maryland Adopts Provisions Relating to Notary Public Fees
Maryland has amended its regulations relating to fees a notary public may charge for travel to perform notarial acts under COMAR 1.02.08.03(D).
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Washington Modifies Fees and other Provisions of its Consumer Loan Act
The state of Washington temporarily waives certain fees and modifies provisions relating to mortgage servicing under the Washington Consumer Loan Act
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Georgia Department of Banking and Finance Adopts 2018 Final Rulemaking
The Georgia Department of Banking and Finance has adopted new provisions pertaining to mortgage lenders, brokers, and servicers including updates to its mortgage servicing standards, and provides new provisions for mortgage lenders, brokers and servicers that meet the definition of “loan or finance company” under the Bank Secrecy Act.
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Louisiana Provisions Regarding Cancellation of Mortgages
Louisiana has passed House Bill 172 which provides for the cancellation or partial release of inferior mortgages and liens on a property sold at sheriff’s sale.
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Maryland Modifies Financial Consumer Protection Act and Provisions Regarding Mortgage Brokers Finder’s Fee
Maryland has passed House Bill 1511 which modifies a certain provision of its regulations regarding mortgage brokers finder’s fees. Maryland has passed House Bill 1297 which makes wide ranging changes to its Financial Consumer Protection Act.
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Tennessee Adopts Provisions Setting Forth New Standards of Practice for Debt Collectors
The Tennessee Department of Commerce and Insurance, Division of Regulatory Boards, Collection Service Board has adopted provisions regarding the standards of practice for debt collectors. The new provisions address, among other things, the acquisition of location information from 3rd parties, communications in connection with debt collection, harassment or abuse, and unfair practices.
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Tennessee Enacts Provisions Regarding its Online Notary Public Act
Tennessee has passed House Bill 1794 which amends Tennessee Code Annotated, Section 66-22-10. HB 1794 provides for the online notarization of documents or instruments by a notary public who has been appointed as an online notary public by the Secretary of State.
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Maryland Updates: Foreclosure Property Registry, Escrow Accounts for Utility Assessments, Uniform Electronic Recording Act, Consumer Protection
House Bill 848 amends provisions in its consumer protection statute regarding consumer reporting agencies. HB 848 allows a consumer to bring an action or proceeding against a consumer reporting agency. HB 848 also alters the method by which a consumer may place or remove a security freeze on his or her consumer report.
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Alabama Revises Provisions Regarding Right of Redemption
Alabama has enacted HB90 which amends current law regarding the 180 day right of redemption period after a foreclosure sale. HB90 provides that the right of redemption cannot be exercised more than one year after the date of foreclosure, that the production of proof of mailing of the notice of right of redemption is an affirmative defense to any notice requirement action, and bars any action related to the notice requirement if brought more than one year after the foreclosure sale.