Tag Archive: "Kansas"
Effective July 1, 2016 Kansas amended its provisions regarding its Mortgage Business Act (hereinafter referred to as the MBA). This includes definitions, exemptions, licensing and registration, proof of display of license, bond requirements, prohibited acts and retention of records. Section I. K.S.A. 2015 Supp. 9-2201 The following is the definitive list of definitions that exhibited […]
by Zachary Pearlstein, Esq.Kansas has recently made several revisions that relate to mortgage interest rates, effective July 1, 2013.The revised bill includes the following provisions: • The parties to any promissory note or similar instrument (i.e. bill or bond) may stipulate the amount of interest at a rate not to exceed 15% annually (unless otherwise authorized […]
by: Nicole Legere, Esq.Kansas Revisions to Mortgage Interest Rates Kansas Senate Bill 52 was recently passed to increase the maximum annual interest rate, from its previous limitation of no more than 1.5 percentage points, to no more than 3.5 percentage points above the specified monthly floating cap set by the Federal Home Loan Mortgaging Corporation. […]