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Department of Veterans Affairs clarifies policies for cash-out refinancing loans
On February 14, 2019, the Department of Veterans Affairs (VA) issued a circular clarifying its new policies regarding VA-guaranteed cash-out refinancing loans. The policies took effect on February 15, 2019, pursuant to an interim final rule which was published in the Federal Register on December 17, 2018.
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New Jersey Issues Bulletin Regarding 2019 High-Cost Home Loan Dollar Adjustment
The adjusted dollar amount is effective for loan applications received on or after January 1, 2019.
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Nevada Enacts Temporary Electronic Notary Rule
The Nevada Secretary of State has adopted a temporary rule concerning electronic notarizations. These provisions are effective immediately.
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Rhode Island Adopts Licensing Provisions Regarding Lenders, Brokers and Mortgage Loan Originators
The Rhode Island Department of Business Regulation has recently adopted provisions regarding licensing requirements for mortgage lenders, mortgage brokers, and mortgage loan originators, effective immediately.
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The District of Columbia Enacts Provisions Regarding Notaries Public
The District of Columbia has passed D.C. ACT 22-471, now known as D.C. Law 22-189, or; the “Revised Uniform Law on Notarial Acts Act of 2018.”
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Ohio Regulatory Updates
Ohio Enacts the Notary Public Modernization Act, Amends Provisions Regarding Foreclosure Procedures and Amends Provisions Regarding Financial Institutions
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Illinois Modifies Residential Mortgage License Act Provisions
Illinois has amended provisions under its Residential Mortgage License Act. These provisions are effective immediately.
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Michigan Amends Provisions Regarding Notaries
The state of Michigan amended its provisions with an amendment relating to notaries that include updates to definitions as well as the electronic notarization of documents.
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CFPB Releases HMDA Policy Guidance
On December 21, 2018, the Bureau of Consumer Financial Protection Bureau (Bureau) released final policy guidance applicable to the public disclosure of data collected and reported pursuant to the Home Mortgage Disclosure Act (HMDA).
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Texas Adopts Amendments Affecting Regulated Lenders
The Texas Office of Consumer Credit Commissioner has made a number of housekeeping changes to its rules under the Regulated Lenders and Credit Access Businesses chapter
