State Mortgage Compliance
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Tennessee Enacts Provisions Regarding its Online Notary Public Act
Tennessee has passed House Bill 1794 which amends Tennessee Code Annotated, Section 66-22-10. HB 1794 provides for the online notarization of documents or instruments by a notary public who has been appointed as an online notary public by the Secretary of State.
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Georgia Modifies Provisions Relating to Powers of Attorney, Trusts, and Fiduciary Access to Digital Assets
The state of Georgia has modified provisions under its Power of Attorney Act, Revised Trust Code, and Uniform Fiduciary Access to Digital Assets Act. These provisions are effective as of July 1, 2018.
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Florida Adopts Provisions Regarding Unlawful Rebates and Inducements Relating to Title Insurance Transactions
The Florida Department of Financial Services, Division of Insurance Agents and Agency Services, has recently adopted provisions regarding unlawful rebates and inducements relating to title insurance transactions. These provisions are effective on May 13, 2018.
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Maryland Updates: Foreclosure Property Registry, Escrow Accounts for Utility Assessments, Uniform Electronic Recording Act, Consumer Protection
House Bill 848 amends provisions in its consumer protection statute regarding consumer reporting agencies. HB 848 allows a consumer to bring an action or proceeding against a consumer reporting agency. HB 848 also alters the method by which a consumer may place or remove a security freeze on his or her consumer report.
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Colorado Enacts Uniform Trust Code Provisions
Colorado has added new provisions to its Uniform Trust Code. These provisions are effective as of January 1, 2019.
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Kentucky Enacts Provisions Regarding Uniform Power of Attorney Act
The Commonwealth of Kentucky enacted provisions relating to its Uniform Power of Attorney Act, these provisions are effective on July 13, 2018. Kentucky Revised Statutes Chapter 457 is established and adopts portions of the Uniform Power of Attorney Act of 2006.
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Pennsylvania Enacts Mortgage Servicing Provisions
The Pennsylvania Department of Banking and Securities has amended Title 10 of the Pennsylvania Code by adding Chapter 59. This chapter is effective immediately.
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Montana Adopts Provisions Regarding Renewal Fees
The Montana Department of Administration amended multiple provisions that include reducing its licensing renewal fees for 2019. These provisions are effective immediately.
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Minnesota Publishes Dollar Amounts Regarding Consumer Credit Code Adjustments
The Minnesota Department of Commerce published its Consumer Credit Code Adjustments for 2018. Dollar amounts in the Regulated Loan Act and the Minnesota Consumer Credit Code will increase effective July 1, 2018.
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Oklahoma Consumer Loans and Supervised Lenders
Oklahoma Modifies Provisions Regarding Consumer Loans The state of Oklahoma has recently passed House Bill 1151, regarding convenience fees on consumer loan payments. These provisions are effective on November 1, 2018. The new provisions state that, in addition to the typical loan finance charges permitted by statute, a lender may also charge a “convenience fee” […]