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Arizona Adopts Online Notarization Provisions
Arizona has enacted several provisions regarding online notarization procedures. These provisions are effective as of June 30, 2020.
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FHA Provides Extension of Effective Date for new rules related to Downpayment Assistance
On April 25, 2019, FHA issued Mortgagee Letter 2019-07 which announced the extension of the effective date of Mortgage Letter 2019-06 setting forth new documentation requirements related to Downpayment Assistance from governmental entities.
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North Carolina Amends Late Payment Charge Limitations
The North Carolina General Assembly has issued Senate Bill 162 to revise Section 24-10.1 Late Fees.
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Idaho Modifies its Uniform Law on Notarial Acts
Idaho has passed Senate Bill 1111, an act modifying the Uniform Law on Notarial Acts. New provisions in the act are effective January 1, 2020 and allow for a notarial act to be performed by a remotely located individual.
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FHA issues Mortgagee Letter 2019-06 related to Borrower’s Minimum Required Investment
On April 18, 2019, the Federal Housing Administration (FHA) issued Mortgagee Letter 2019-06 which clarifies source requirements for a borrower’s Minimum Required Investment (MRI).
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Kentucky Enacts Notary Provisions
Kentucky has enacted several provisions pertaining to notaries. These provisions are effective as of January 1, 2020.
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Montana Amends Provisions Regarding Revised Uniform Law on Notarial Acts
The state of Montana amended provisions relating to its Revised Uniform Law on Notarial Acts that include electronic records, remote notarization and the use of electronic notarization systems and communicating technology. These provisions are effective on October 1, 2019.
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Oklahoma Publishes Notice Regarding Changes in Dollar Amounts
The Oklahoma Department of Consumer Credit has published its annual changes in dollar amounts for 2019.
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Utah Modifies Provisions under Consumer Credit Protection Act and Licensing Provisions under RMPLA
The State of Utah modified provisions under its Consumer Credit Protection Act and Residential Mortgage Practices and Licensing Act.
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North Dakota Amends Foreclosure Provisions
The State of North Dakota has enacted Senate Bill No. 2205, an act relating to abandoned property and foreclosure of real estate.
