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Colorado Enacts MLO Licensing Provisions
The Colorado Division of Real Estate has adopted provisions regarding the temporary authority to act as a mortgage loan originator. These provisions are effective immediately.
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New York Adopts Reverse Mortgage Provisions
New York has enacted provisions relating to the regulation of reverse mortgages that are issued pursuant to the Federal Home Equity Conversation Mortgage Program. These provisions are effective as of March 5, 2020.
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Taxpayer First Act
The Taxpayer First Act, signed into law on July 1, 2019, contains a provision stating that persons receiving tax return information must obtain express permission from taxpayers before disclosing that information to a third party. This provision of the Act is effective as of December 28, 2019.
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Texas Enacts Licensing Provisions
The Texas Finance Commission has adopted provisions regarding licensing requirements for certain licensees. These provisions are effective immediately.
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Illinois Modifies Foreclosure Provisions
Illinois has amended its provisions regarding notice of foreclosure. These provisions are effective immediately.
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Illinois Modifies Personal Information Protection Act Provisions
The state of Illinois has modified its provisions regarding notice of breach under its Personal Information Protection Act. These provisions are effective as of January 1, 2020.
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Rhode Island Enacts Provisions Regarding Revised Uniform Fiduciary Access to Digital Assets Act
The state of Rhode Island has recently enacted the Revised Uniform Fiduciary Access to Digital Assets Act, effective immediately.
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CFPB Updates TRID FAQs for Loan Estimate
The Consumer Financial Protection Bureau has updated its TILA-RESPA Integrated Disclosure frequently asked questions to include items regarding provision of the Loan Estimate to consumers.
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Our Blog Is Changing Emails
Thank you for your continued interest in our Residential Mortgage Compliance Monitor. Due to Anna DeSimone’s retirement, you will soon begin receiving our blog notifications from ComplianceMonitor@CLAmortgageadvisory.com. Please add this email to your Safe Sender List so you can continue to receive our residential mortgage news in your inbox.
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Nevada Enacts Licensing Provisions
The Nevada Department of Business and Industry, Division of Mortgage Lending has adopted several provisions regarding licensure by endorsement of escrow agents and agencies. These provisions are effective immediately.
