More about Laura Eckstein
Blog Posts by Laura Eckstein:
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Georgia Modifies Provisions Regarding Banking and Finance
Georgia modified multiple provisions relating to banking and finance. These provisions are effective on July 1, 2016. Mortgage Lenders and Brokers The amendments replaced the phrase “Nationwide Mortgage Licensing System and Registry” with “Nation-wide Multistate Licensing System and Registry” in the following code sections: Code Section 7-1-1000, relating to definitions relative to mortgage lenders and […]
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Arizona Modifies Provisions Regarding Consumer Lenders
Arizona modified its provisions relating to consumer lenders prohibited acts and insurance. These provisions are effective on August 26, 2016 (or 90 days following adjournment of the legislative session). Prohibited Acts A licensee is prohibited from knowingly using false, misleading, or deceptive advertising in connection with rates, terms, or conditions for a consumer lender loan. […]
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Wyoming Adopts Provisions Regarding Uniform Real Property Electronic Recording Act
Wyoming adopted provisions regarding the Uniform Real Property Electronic Recording Act. The provisions, effective on January 1, 2017, include validating electronic documents for recording, authorizing electronic recordings by county clerks, and providing that a county clerk who accepts electronic recordings of deeds, mortgages, conveyances, and other like documents, must establish procedures to govern the electronic […]
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Oregon Updates Mortgage Lending Rules to Comply with Federal Disclosure Requirements
December 31, 2015By Laura Eckstein, J.D.The Oregon Department of Consumer and Business Services, Division of Finance and Corporate Securities, amended its recordkeeping requirements to accommodate the recent changes made by the Consumer Financial Protection Bureau (“CFPB”) to the federally-mandated mortgage disclosures. Since 2011 federal law has mandated that the CFPB establish a single disclosure scheme […]
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Massachusetts Amends Provisions Clearing Titles to Foreclosed Properties
By Laura Eckstein, J.D.December 2, 2015 Massachusetts amended provisions clearing title to foreclosed properties and foreclosure sales involving an arm’s length purchaser. These provisions are effective December 31, 2015.M.G.L. c. 244 § 15The amendments to chapter 244 of the General Laws strike out section 15 as appearing in the 2014 Official Edition, and add subsections […]
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Colorado Adopts Multiple Licensing Education Revisions for Mortgage Loan Originators
By Laura Eckstein, J.D.November 23, 2015 The Colorado Department of Regulatory Agencies, Division of Real Estate adopted multiple provisions regarding licensing education for mortgage loan originators. Such provisions include pre-licensing requirements, continuing education requirements, and renewal, reinstatement, and suspension of a license. These provisions are effective on March 1, 2016. Chapter 2: Requirements for Licensure2.1 […]
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Texas Updates Regulations Regarding Mortgage Loan Companies and Plain Language Contract Provisions
By Laura Eckstein, JD Mortgage Loan Companies Duties and ResponsibilitiesEffective November 5, 2015, the Texas Department of Savings and Mortgage Lending adopted provisions regarding the duties and responsibilities of mortgage loan companies, mortgage bankers, and residential mortgage loan originators. Loan Status FormsAs amended, 7 TAC §80.201(a) requires that written confirmation of a conditional qualification must […]