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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New York Adopts Shared Appreciation Mortgage Modification
by: Margaret Wright New York has adopted regulations concerning shared appreciation mortgage modification as Title 3 NYCRR Part 83. Upon the sale of a residential property, a shared appreciation agreement provides a share to the lender or servicer in the appreciation of the value of the property. In order to have a shared appreciation agreement, […]
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New York Adopts Credit Exposure Provisions
by: Margaret WrightOn April 9, 2014, the New York Department of Financial Services adopted an emergency rule regarding credit exposure arising from derivative transactions. The April 9, 2014 emergency rule is effective immediately, however is set to expire June 22, 2014. Beginning in January 2013, similar emergency rules have been adopted concerning the same topic; […]
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Maine Enacts and Amends Foreclosure Regulation
by: Margaret WrightOn April 5, 2014, the Maine Legislature enacted new additions and amendments to existing Maine foreclosure regulation for the purpose of expediting the foreclosure process. Transfer Taxes and Foreclosed Real Property Newly enacted are sections concerning the assignment of rights in a foreclosed property made during the time between the judgment of foreclosure […]
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State of Washington Amends Foreclosure Fairness Act
by: Margaret WrightThe Washington State Legislature has passed House Bill 2723 amending the Foreclosure Fairness Act. The purpose of the Foreclosure Fairness Act (“the Act”) is to encourage homeowners to utilize housing counseling, facilitate communication between homeowners and beneficiaries in an effort to avoid foreclosure whenever possible and to provide guidance where foreclosure mediation has […]
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CFPB Releases TILA-RESPA Integrated Disclosure Rule Compliance Guide
by: Margaret WrightOn April 1, 2014, the Consumer Financial Protection Bureau released their Small Entity Compliance Guide for the TILA-RESPA Integrated Disclosure Rule. The CFPB’s TILA-RESPA Integrated Disclosure Rule Guide is organized in a helpful question and answer format which outlines important information concerning the requirements for each new disclosure. The Guide includes a page […]
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New Jersey Re-adopts and Amends Predatory Lending Regulation
by: Margaret WrightThe Predatory Lending regulations implemented under New Jersey Home Ownership Security Act (“the Act”) have been re-adopted and certain definitions have been technically amended to be consistent with new January 2014 federal Home Ownership and Equity Protection Act (“HOEPA”) amendments. The Effective Re-adoption Date is February 12, 2014 and the Effective Amendment Date […]
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Washington Amends Mortgage Originator and Escrow Agent Rules
by: Margaret WrightThe Washington Department of Financial Institutions has issued amendments effective January 1, 2014 to the Mortgage Broker Practices Act, Consumer Loan Act and Escrow Agent Registration Act. Mortgage Broker Practices Act and Consumer Loan Act The Mortgage Broker Practices Act and Consumer Loan Act sections concerning loan originator pre-licensing education and testing requirements […]
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Agencies Amend HPML Appraisal Rules
by: Margaret WrightOn December 12, 2013 the Agencies issued the final rule to amend the upcoming HPML Appraisal Rule which is effective on January 18, 2014. The final rule in part amends the transactions exempted under the rule by adding additional exemptions based on loan amount, certain refinance transactions and amends the current manufactured home […]
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New Jersey Issues High Cost Loan and Mortgage License Renewal Bulletins
by: Margaret WrightThe New Jersey Department of Banking recently issued two Bulletins concerning high cost home loans and Residential Mortgage Act 2014 licensing information. High Cost Home Loan Definition Bulletin No. 13-20 addresses the NJ Home Ownership Security Act of 2002’s required annual review and maximum principal amount adjustment for determination of a high cost […]
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Massachusetts Amends Debt Collector and Third Party Loan Servicer Laws
by: Margaret WrightMassachusetts’s “Conduct of the Business of Debt Collectors and Loan Servicers“, 209 CMR 18, has been amended in order to further clarify and establish standards of conduct for debt collectors and third party loan servicers. Summarized below are the key amendments effective as of October 11, 2013. Third Party Loan Servicer Amendments Mortgage […]