State Mortgage Compliance
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Illinois Amends Predatory Lending Database Program Requirements
Illinois has modified the Predatory Lending Database Program of the Residential Real Property Disclosure Act, effective immediately.
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North Carolina Enacts Prohibition on Attorneys Serving as Trustees from Representing Noteholders or Borrowers while Initiating a Foreclosure Proceeding
North Carolina recently enacted House Bill 770, effective immediately. The Bill amends North Carolina General Statues § 45-10, Substitution of trustees in mortgages and deeds of trust.
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Delaware Amends Recording Requirements for Mortgagee Changes of Notice Address
The Delaware state legislature has enacted Senate Bill No. 32 concerning the requirements for the recording of a mortgagee’s change of address for purposes of notice.
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Illinois Amends Several Real Estate Provisions
Illinois has recently made several changes to various real estate provisions concerning arrearage payments, foreclosure, the county recorder fee schedule and the Condominium Property Act.
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Illinois Amends Notary Public Act Provisions
Illinois has made slight modifications to provisions of its Notary Public Act. These amendments are effective as of January 1, 2018.
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Oregon Debt Collection: Debts Owed to the State and Debt Buyers
The Oregon state legislature has passed Senate Bill 254 which requires financial institutions to participate in a Department of Revenue data match system and passed House Bill 2356 which outlines the requirements for a debt buyer seeking to bring legal action to collect a debt; and amends provisions concerning the licensing requirements for debt buyers.
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Oregon Enacts Provisions Regarding Mortgage Loan Servicer Practices Act
The state of Oregon enacted provisions regarding its Mortgage Loan Servicer Practices Act that include, but is not limited to, licensing application and renewal requirements and required fees. These provisions become operative on January 1, 2018.
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New Jersey Extends the Law Against Discrimination Protections over Service in The Armed Forces
Effective immediately, New Jersey has amended the Law Against Discrimination (LAD). These amendments extend protections over liability for service in the Armed Forces of the United States in various forms.
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Utah Adopts Provisions Regarding Licensing under Residential Mortgage Practices and Licensing Act
The Utah Department of Commerce, Division of Real Estate, adopted provisions relating to licensing and registration procedures under its Residential Mortgage Practices and Licensing Act (RMPLA). These provisions are effective immediately.
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Alaska Fiduciary Access to Digital Assets Act
Effective October 31, 2017, Alaska has enacted the Revised Uniform Fiduciary Access to Digital Assets Act as Title 13, Chapter 63 of the Alaska Statutes. The Act addresses four common types of fiduciaries: executors or administrators of estates, guardians or conservators, agents acting under a power of attorney, and trustees of a trust.