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Indiana Enacts Provisions Related to Electronic Wills, Trusts, and Powers of Attorney
The state of Indiana enacted provisions related to electronic wills, trusts, and powers of attorney through Indiana House Bill 1303. These provisions create a presumption of regularity for electronic wills, trust instruments, and powers of attorney in Indiana and are effective on July 1, 2018.
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Florida Modifies Provisions Regarding Foreclosure Proceedings
The legislature of the state of Florida has recently enacted provisions regarding foreclosure proceedings where a defendant has filed for bankruptcy. This bill will be effective as of October 1, 2018.
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Virginia Enacts Provisions Regarding Foreclosure Notice
The Commonwealth of Virginia amended its provisions regarding notice to tenant in the event of a foreclosure.
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Utah Amends Residential Mortgage Practices and Licensing Act
The state of Utah amended its provisions relating to its Residential Mortgage Practices and Licensing Act (RMPLA) that include the exemption of certain nonprofit corporations from licensing requirements.
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MPF Program Origination and Underwriting Updates for MPF Direct
On March 20, 2018, The Mortgage Partnership Finance Program announced origination and underwriting updates for its MPF Direct program. Specifically, changes were made to Direct Select QM, Select 90 QM, and Choice QM guidelines. These changes are effective immediately.
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Senate Passes Economic Growth, Regulatory Relief and Consumer Protection Act
On March 14, 2018, the Senate passed a bill which impacts several areas covered by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The bill is expected to be considered by the U.S. House of Representatives, and, if passed by the House and signed by the President, would become law.
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Nebraska Modifies Consumer Protection Provisions
The state of Nebraska modified its provisions relating to consumer protection under its Financial Data Protection and Consumer Notification of Data Security Breach Act of 2006 (“FDP”). These provisions are effective on July 17, 2018.
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Virginia Amends Provisions Regarding Foreclosure
The commonwealth of Virginia amended its provisions relating to foreclosure that include notice of sale requirements when the owner is deceased. These provisions are effective on July 1, 2018.
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Fannie Mae Updates Selling Guide
On February 27, 2018, Fannie Mae updated its Selling Guide.
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HMDA 2018 “Getting it Right!” Guide Released
Last week, the 2018 edition of A Guide to HMDA Reporting: Getting it Right! (the Guide) was released. This edition of the Guide is effective for the 2018 calendar year data, to be submitted by March 1, 2019.
