State Mortgage Compliance
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Delaware Updates Requirements for Filing Mortgagee Change of Address
The State of Delaware has amended Title 25 § 2124 of the Delaware Code to require a statement of mortgagee address change be filed in the recorder of deeds office within 60 days of the change.
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Florida Adopts Provisions Regarding Loan Officer Licensing for Military Members
The Florida Department of Financial Services has recently adopted provisions relating to fee waiver procedures for military personnel, veterans, and spouses seeking a loan originator license or renewal of a loan originator license. These provisions are effective on September 25, 2018.
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California Amends Provisions Regarding Consumer Protection
The state of California amended its consumer protection provisions. These provisions are effective on January 1, 2019.
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Vermont Adopts Provisions Related to Residential Real Estate Mortgage Loan Commitment Letters
Vermont enacted provisions related to form, content, and timing of residential real estate mortgage loan commitment letters; Regulation B-2018-02 supersedes and replaces Regulation B-98-1.
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New Jersey Amends Licensing Provisions under RMLA
The state of New Jersey has recently amended provisions under its Residential Mortgage Lending Act (RMLA). These amendments are effective on November 22, 2018.
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Illinois Modifies Several Mortgage Provisions
Illinois has amended provisions regarding notice of sale requirements under the judicial sale procedures of a foreclosed property, provisions under its Residential Mortgage License Act regarding mortgage loan advertisements and licensing requirements.
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Ohio Establishes Cybersecurity Program Affirmative Defense
Through Ohio Senate Bill 220 (the “Act”), the State has established an affirmative defense to a tort action brought against a covered entity because of a data breach.
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Maryland Adopts Provisions Relating to Notary Public Fees
Maryland has amended its regulations relating to fees a notary public may charge for travel to perform notarial acts under COMAR 1.02.08.03(D).
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Washington Modifies Fees and other Provisions of its Consumer Loan Act
The state of Washington temporarily waives certain fees and modifies provisions relating to mortgage servicing under the Washington Consumer Loan Act
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Indiana Publishes Consumer Credit Fees
The Indiana Department of Financial Institutions published its annual consumer credit fees schedule. The fees are effective from July 1, 2018 through June 30, 2019.