More about Robert Harrison
Blog Posts by Robert Harrison:
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Indiana Adopts Provisions Regarding Pre-licensing Education Requirements and Amends Definition of NMLSR
By Robert Harrison, J.D.The Indiana Department of Financial Institutions adopted provisions concerning pre-licensing education requirements as well as the definition of the term “Nationwide Multistate Licensing System and Registry” or “NMLSR”. These provisions are effective immediately. Pre-licensing Education RequirementsThe prelicensing education requirements in Indiana are governed by 750 IAC 9-3-5. Indiana has added two provisions […]
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Florida Amends Procedures for Cancellation of Mortgage after Satisfaction and Open End Mortgages
Florida Amends Procedures for Cancellation of Mortgage after Satisfaction and Open End MortgagesBy Robert Harrison, J.D.Florida House Bill 145 Section 4 has amended Section 701.03 of Florida Statutes, to reduce the time limit for a mortgagee to cancel a mortgage after satisfaction from 60 to 45 days, unless the mortgage is an open end mortgage.Open […]
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Florida Clarifies Unlawful Inducements Related to Title Insurance
February 19, 2016 The Florida Department of Financial Services, Division of Insurance Agents and Agency Services has adopted Regulation 69-B-186.010 to help interpret Florida Statute 626.9541(1)(h)3, which prohibits certain activities related to title insurance because such activities constitute unfair methods of competition or deceptive acts or practices prohibited by Florida Statute 626.9521. Regulation 69-B-186.010 provides […]
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Illinois Amends Law Regarding the Abandoned Residential Property Municipality Relief Fund
By Robert Harrison, J.D.The State of Illinois has amended its Code of Civil Procedure Section 15-1507.1. The amendment makes two changes; the repeal date of the section is changed from March 2, 2016 to March 2, 2017 and the inoperative date of Subsections 15-1507.1 (a) and (b) is changed from January 1, 2016 to January […]
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Vermont Revises Rules Regarding Non-Discrimination in Financial Services
by Robert Harrison, J.D.November 5, 2015 Vermont Reg. B-2015-01 implements 8 V.S.A. § 10403 which prohibits discrimination by financial service providers based on sex, marital status, race, color, religion, national origin, age, sexual orientation, gender identity, or handicapping condition.The revised rule focuses on the notice that is required when adverse action is taken by a […]
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Florida Adopts Escrow Disbursement Provisions
By Robert Harrison, J.D. October 26, 2015 The escrow disbursement provisions adopted by the state of Florida requires any person disbursing escrow funds that are held as part of a real estate transaction, where at least one title policy is to be issued, to provide the parties to the transaction with certain information: 1. Certification statement […]
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State of Maine Enacts Provisions to Prevent Abusive Debt Collection Practices
by Robert Harrison, J.D.October 1, 2015 The State of Maine amended provisions in regards to debt collection practices. Specifically, House Paper 753 aims to prevent abusive debt collection practices. Payment schedules and settlements agreements must be in writing Debt collectors may not enter into a payment schedule or settlement agreement unless: the payment schedule or […]
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Illinois Foreclosure Document Pilot Program
By Robert Harrison, J.DIllinois has enacted provisions for its Foreclosure Document Pilot Program through Senate Bill 1487. This bill requires recorders in a county with a population of over 3 million to implement a pilot program that will only allow documents to be recorded against a property in foreclosure by judicial order. This does not […]