State Mortgage Compliance
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Arkansas Modifies Provisions Regarding Notary Publics
The General Assembly of the state of Arkansas has recently amended Arkansas Code § 21-6-309, which relates to notary publics. These updates are effective as of August 18, 2017.
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Idaho Enacts Provisions Regarding Notarial Acts
The state of Idaho has recently enacted the Revised Uniform Law on Notarial Acts, with various provisions becoming effective between July 1, 2017 and July 1, 2019.
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South Dakota Enacts Provisions Regarding Exemptions from Licensure for Nonresidential Mortgage Loans
The South Dakota legislature amended provisions for the licensure of nonresidential mortgage loans. These provisions will become effective on July 1, 2017.
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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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Arkansas Enacts Provisions Regarding Electronic Notary Public Act
The state of Arkansas has recently enacted House Bill 1479, which creates the Arkansas Electronic Notary Public Act. These provisions will become effective on August 18, 2017.
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Wyoming Adopts Provisions Concerning The Uniform Consumer Credit Code and The Uniform Power of Attorney Act
The Wyoming Department of Audit, Division of Banking, adopted provisions regarding licensing fees, which are effective immediately.
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Virginia Uniform Fiduciary Access to Digital Assets Act
Virginia has enacted the ‘Uniform Fiduciary Access to Digital Assets Act.’ The Act allows a user to use an online tool or to direct in a will, trust, power of attorney or other record disclosure the release of all, none or some of the users digital assets in the possession of a custodian to a designated recipient.
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Virginia Amends Various Residential Real Estate Provisions
Virginia Amends Provisions Regarding Tenant Escrow Funds and Security Deposits, Notices to Tenants in the Event of Foreclosure and Provisions Regarding Electronic Filing of Land Records
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Oregon Implements Rules Regarding Surety Bond Information
The Oregon Department of Consumer and Business Services, Finance and Securities Regulation, implemented rules allowing licensees to submit required surety bond information through the Nationwide Mortgage Licensing System and Registry. These provisions are effective on April 1, 2017.