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South Carolina Amends Provisions for Mortgage Lending Licensing
South Carolina has enacted provisions related to mortgage lending licensing, effective September 18, 2017 and has amended Regulation 15-64 to comply with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act), and with rules issued by the Consumer Financial Protection Bureau, effective immediately.
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Colorado Amends Mortgage Loan Originator Provisions and Fair Debt Collection Practices Act Provisions
Colorado has made minor amendments to its Fair Debt Collection Practices Act and has amended its provisions regarding Mortgage Loan Originator (MLO) exemption requirements.
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California Publishes Bulletin Clarifying Per Diem Statute Documentation Requirements
Effective immediately, the California Department of Business Oversight (Department) issued a brief bulletin for licensees to be able to identify which documents may be used to comply with both the per diem statute and the Financial Code ยง50204 (o).
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Maryland Enacts Provisions Affecting Foreclosures and Credit Report Security Freezes
Effective October 1, 2017, Maryland enacted certain provisions to streamline the foreclosures of vacant and abandoned properties and amended provisions regarding fees associated with credit report security freezes.
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West Virginia Amends Provisions Regarding Consumer Credit, Uniform Trust and Allowable Fees
The state of West Virginia amended its provisions regarding its Consumer Credit and Protection Act, Uniform Trust Code and County Clerk Fee Allowances.
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Louisiana Amends Provisions Regarding Cancellation of Mortgages
The state of Louisiana has passed HB 400 which amends provisions relating to the cancellation of mortgages and adds provisions relating to the partial cancellation of mortgages. These amendments include changes to the model form for cancellation of mortgages and the addition of a model form for the partial cancellation of mortgages. The provisions of HB 400 take effect August 1, 2017.
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Virginia Adopts Provisions Regarding Mortgage Lenders, Brokers and MLOs
The Virginia Corporation Commission adopted provisions regarding mortgage lenders, mortgage brokers and mortgage loan requirements. These amendments took effect on May 15, 2017.
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Arkansas Modifies Regulations Regarding Fraudulent Transfers and Voidable Transactions
Arkansas modified its regulations regarding fraudulent transfers and voidable transactions. These provisions are effective on August 1, 2017 or 91 days after adjournment of the current legislative session.
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Nevada Enacts and Amends Several Real Estate Provisions
Nevada enacts and amends several provisions covering foreclosure, fees collected by county recorders, domestic relations and power of sale location
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Iowa Adopts Mortgage and Real Estate Licensing Provisions
The Iowa Department of Commerce, Division of Banking, has enacted licensing provisions regarding mortgage bankers, mortgage brokers, real estate closing agents, and mortgage loan originators. These provisions are effective as of July 1, 2017.
