More about Julio Suarez
Blog Posts by Julio Suarez:
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New Jersey Extends the Law Against Discrimination Protections over Service in The Armed Forces
Effective immediately, New Jersey has amended the Law Against Discrimination (LAD). These amendments extend protections over liability for service in the Armed Forces of the United States in various forms.
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Maryland Aligns Terms with Federal Definitions and Clarifies MLO Requirements
Effective as of July 31, 2017, Maryland amended provisions to align state mortgage industry terminology with federal terminology and clarified provisions impacting mortgage lender originators (MLOs). The following topics were clarified by the amendments: continued education, duty of care, application, exemptions and advertising.
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New Jersey Amends the Fair Foreclosure Act: Servicer Impacted
Effective September 21, 2017, New Jersey amended its Fair Foreclosure Act by defining servicers and their duties during a short sale.
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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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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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Maryland Substitutes Financing Agreement and Commitment Requirements
Effective July 1, 2017, Maryland repealed and reenacted with amendments an act affecting closed end credit loans in order to eliminate duplicative disclosures. In essence, the amendments streamline the loan process by substituting the financing agreement and commitment disclosures with the Loan Estimate and Closing Disclosures.
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California Publishes Bulletin Clarifying Per Diem Statute Documentation Requirements
Effective immediately, the California Department of Business Oversight (Department) issued a brief bulletin for licensees to be able to identify which documents may be used to comply with both the per diem statute and the Financial Code ยง50204 (o).
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Maryland Enacts Provisions Affecting Foreclosures and Credit Report Security Freezes
Effective October 1, 2017, Maryland enacted certain provisions to streamline the foreclosures of vacant and abandoned properties and amended provisions regarding fees associated with credit report security freezes.
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Maryland Adopts Various Changes Affecting Mortgage Lending
Recent Maryland Mortgage Lending Regulatory updates include the Uniform Electronic Legal Materials Act, Mortgage and Deeds of Trust Recording, the Personal Information Protection Act and Surety Bond Liability
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Tennessee Amends Several Residential Mortgage Related Provisions
Tennessee amended its provisions for the rules pertaining to home equity conversion mortgages, rate of interest charged by certain industrial loan and thrift registrants and time of manner of foreclosure sales.