More about Julio Suarez
Blog Posts by Julio Suarez:
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Mississippi Reenacts and Updates SAFE Mortgage Act
Effective on July 1, 2016 Mississippi reenacted the SAFE Mortgage Act and updated license requirements, document retention procedures, self-reporting, and set new limitations. Continuing Education Mississippi enacted amendments that delineate the requirements of continuing education for a licensed mortgage loan originator. Each mortgage loan originator must complete a total of eight hours of continuing education […]
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Kansas Amends its Mortgage Business Act
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 […]
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Idaho Amends Foreclosure Sale Provisions
Effective July 1, 2016 Idaho adopted requirements amending Idaho Code Section 45-1506 on the duties of the purchaser of a trust deed foreclosure sale in regards to untitled property. Commencing the Process Under the amendment the purchaser has a four step procedure to follow: (1) determination of occupancy; (2) storage; (3) notice; and (4) satisfaction […]
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New Mexico Adopts Requirements for Scrivener’s Error Affidavit
Effective May 18, 2016 New Mexico adopted requirements for a scrivener’s-error affidavit detailing a definition, qualified individuals who may submit the document, requirements for admissibility, and applicability. DEFINITION A scrivener’s error affidavit may be used to correct drafting or clerical errors in real property instruments. The following is a delineation of errors it may be […]
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South Dakota Defines Written Agreement
Effective July 1, 2016 the legislature of South Dakota defined written agreements between debtors and creditors as documents in writing, whether in physical or electronic form. Furthermore, the written agreement must evidence a demonstration by the parties’ agreement to the terms, conditions of an extension of credit, and the rate of interest. Written agreements also […]