State Mortgage Compliance
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Minnesota Modifies Provisions Regarding Subprime References
The state of Minnesota modified its provisions by removing references to “subprime” from certain statutes. These provisions are effective on July 1, 2019.
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Oklahoma Enacts Remote Online Notary Act
The Act lays out remote online notarization procedures, explains the use of electronic signatures and seals, and sets remote notary fees. These provisions become effective on January 1, 2020.
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New Jersey Enacts Provisions Regarding Mortgage Servicers Licensing Act
The state of New Jersey has recently enacted provisions relating to its Mortgage Servicers Licensing Act which include initial licensing and surety bond notification, reporting, and renewal requirements. These provisions are effective on July 29, 2019.
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New Jersey Enacts Provisions Regarding Disclosure of Online Security Breach
The state of New Jersey has recently enacted provisions regarding the disclosure of a security breach of an online account, effective September 1, 2019.
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Colorado Modifies Title 12 Provisions
The state of Colorado has modified provisions under Title 12, including those relating to its Mortgage Loan Originator Licensing and Mortgage Company Registration Act.
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Indiana Modifies Provisions Regarding Uniform Consumer Credit Code (UCCC)
The state of Indiana modified multiple provisions under House Bill 1447 that include its Uniform Consumer Credit Code as well as First Lien Mortgage Lending. These provisions are effective on July 1, 2019.
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Indiana Modifies Provisions Regarding Fees/Charges under UCCC
The state of Indiana modified its provisions relating to fees and charges under its Uniform Consumer Credit Code (UCCC) under House Bill 1136. These provisions are effective on July 1, 2019.
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Indiana Modifies Provisions Regarding Notaries Public
The state of Indiana amended its provisions relating to notaries public that include notarial acts, fees, remote notarial acts and other miscellaneous provisions.
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Indiana Amends Provisions Regarding Loan Brokers
The amendment reorganizes current provisions regulating loan brokers and creates a new article titled “loan brokers” out of the reorganized provisions and repeals the current law regulating loan brokers.
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Georgia Clarifies Definition of Mortgage Broker
House Bill 212 revises mortgage broker definition.