More about Margaret Wright
Margaret Wright, JD, is regulatory compliance director with CLA. She is a graduate of Stonehill College and earned her juris doctor at Suffolk University Law School. She is admitted to the Massachusetts Bar.
Blog Posts by Margaret Wright:
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Minnesota Amends Recording Requirements Relating to Real Property
The Minnesota legislature passed House File 46, a bill concerning the recording of documents relating to real property. The amendments therein set forth new requirements and clarifications concerning the filing of certificates of value, recording, registration, use of electronic documents and other provisions affecting real estate.
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Virginia Amends Residential Property Disclosure Act
The Virginia Residential Property Disclosure Act has been amended to include new sections outlining definitions and new disclosures required regarding pending building or zoning violations and additional other revisions.
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New York Amends Mortgage Loan Consummation Definition (Update)
The state of New York recently added an amendment to its banking laws to define the term “consummation of a mortgage loan.” This has been updated from previous notice.
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Oregon Amends Mortgage Loan Originator License Requirements
Effective January 1, 2017, Oregon has amended “Mortgage Loan Originator Continuing Education Requirements; Curing Deficiencies; License Sanctions for Failure to Maintain Continuing Education” to align the state licensing requirements to the Nationwide Mortgage Licensing System and Registry (NMLS) licensing requirements.
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Montana Revises Escrow Business Licensing Provisions
The state of Montana has revised certain provisions relating to escrow business licensing to align with the 2014 requirement that escrow business license applications be processed through the Nationwide Multistate Licensing System (NMLS).
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Ohio Mortgage Loan Prepayment Penalty Adjustment for 2017
The Ohio Department of Commerce has issued the loan prepayment penalty adjustment for 2017. This adjustment is based on the annual percentage change in the consumer price index. The adjustment is effective January 1, 2017.
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Texas Adopts Technical Regulatory Amendments
Effective June 30, 2016, the Texas Legislature has adopted several technical amendments to various provisions relating to Mortgage Bankers, Residential Mortgage Loan Servicers and Residential Mortgage Loan Originators in order to provide clarification and to improve grammar and readability.
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Montana Surety Bond Requirements for Mortgage Brokers and Lenders
Effective June 18, 2016, entities applying for a mortgage broker or mortgage lender license for the first time in Montana, with no prior business history or a business history of less than one year at the time of application, are now required to purchase a surety bond in the amount of $25,000.00. Previous to this […]
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Connecticut Amends Financial Institution Regulations
The Connecticut state legislature recently passed House Bill 5571: “An Act Concerning Banking and Consumer Protections.” The Act includes 93 Sections with varied effect dates amending and revising statutory provisions relating to financial institutions. The areas receiving the most attention under the Act include: Purchases and Sales of Securities The sections concerning securities outline the […]
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Arizona Revises Telephone Solicitations Definitions
The Arizona state legislature recently passed Senate Bill 1375 revising Sections 44-1271 and 44-1282 of the Arizona Revised Statutes relating to telephone solicitations. These revisions are effective as of August 6, 2016. The Section 44-1271 definition of "Telephone solicitation" has been revised to "any voice communication from a live operator, announcing device or otherwise that […]