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Montana Amends Multiple Mortgage Lending Licensing Provisions
The Montana Department of Administration amended its rules relating to surety bond, table funding, application of financial standards, and reporting forms for mortgage servicers. These provisions became effective July 8, 2017.
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Maryland Amends Requirements for Mortgage Lender Licensee and Loan Originator Numbers
Effective July 3, 2017, Maryland adopted amendments to change requirements for loan originators and mortgage lender licensee numbers.
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Rhode Island Enacts Provisions Regarding Mortgage Fraud
The General Assembly of the state of Rhode Island has amended Chapter 11-18 of the General Laws, which relates to residential mortgage fraud. These new provisions are effective immediately.
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Connecticut Amends Provisions Concerning the Uniform Power of Attorney Act and Discriminatory Practices Against Veterans
Connecticut amended its provisions concerning discriminatory practices against veterans. These provisions are effective on October 1, 2017. Connecticut amended its provisions concerning its Uniform Power of Attorney Act. Provisions in the bill became effective on July 1, 2017.
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New Hampshire Enacts Provisions Concerning the Uniform Power of Attorney Act and Modifies Provisions Concerning Mortgage Loan Originator Licensing
New Hampshire enacted provisions concerning its Uniform Power of Attorney Act. These provisions are effective on January 1, 2018. New Hampshire modified its provisions concerning the licensing of mortgage loan originators from another state. These provisions are effective on August 28, 2017.
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Oregon Residential Lending Updates
Oregon amends provisions related to reverse mortgages, mailing of notices and satisfaction document requirements concerning receipt of proceeds of the execution of sale of real property.
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Maryland Substitutes Financing Agreement and Commitment Requirements
Effective July 1, 2017, Maryland repealed and reenacted with amendments an act affecting closed end credit loans in order to eliminate duplicative disclosures. In essence, the amendments streamline the loan process by substituting the financing agreement and commitment disclosures with the Loan Estimate and Closing Disclosures.
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Texas Mortgage Lending Regulatory Round Up
The state of Texas revises and amends provisions concerning online notaries, digital assets, residential property power of sale and RMLO pre-licensing education requirements.
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Hawaii Enacts Provisions Regarding Licensing Requirements for Mortgage Servicers
The state of Hawaii has recently updated several requirements for mortgage loan servicers, effective September 1, 2017.
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Nevada Amends Mortgage Broker and Mortgage Banker Provisions
Nevada has modified its provisions relating to mortgage brokers and mortgage bankers. The effective date of these provisions ranges from October 1, 2017 to January 1, 2020.
