Tag Archive: "Maine"
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Maine Amends Foreclosure Regulations
Maine has passed amendments with the purpose of ensuring timely completion of foreclosures and to ensure that proper notification is made to defendants in foreclosure proceedings.
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Legislature Recodifies and Revises Maine Probate Code
The state of Maine modified provisions under its Probate Code including its Uniform Power of Attorney Act. Maine repealed Sec. A-1. 18-A MRSA and enacted Sec. A-2. 18-C MRSA to recodify and revise the Maine Probate Code. These provisions are effective on July 17, 2018.
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Maine Enacts Provisions Regarding Revised Uniform Fiduciary Access to Digital Assets Act
Through House Bill 595, the state of Maine enacted the Revised Uniform Fiduciary Access to Digital Assets Act, Article 10 in the Maine Revised Statutes, Title 18-A. These provisions are effective on effective on July 1, 2018.
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Maine Amends Provision Related to Debt Collection
This bill amends the law regarding the information that a debt buyer must possess for purposes of debt collection.
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Maine Amends Various Provisions Related to Mortgage Loan Servicers and Foreclosure
The state of Maine amended its provisions under its Consumer Credit Code applicable to mortgage loan servicers and also amended its provisions relating to hearing and judgment under foreclosure proceedings by civil action.
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Maine Aligns State and Federal Provisions Regarding Alternative Mortgage Transactions
The Maine Department of Professional and Financial Regulation adopted provisions, effective immediately, that will help to unify the Bureau of Financial Institutions and Bureau of Consumer Credit Protection’s Alternative Mortgage Transactions joint rule with the CFPB’s Regulation D.
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State of Maine Enacts Provisions to Prevent Abusive Debt Collection Practices
by Robert Harrison, J.D.October 1, 2015 The State of Maine amended provisions in regards to debt collection practices. Specifically, House Paper 753 aims to prevent abusive debt collection practices. Payment schedules and settlements agreements must be in writing Debt collectors may not enter into a payment schedule or settlement agreement unless: the payment schedule or […]
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An Act Regarding Maine’s Power of Sale Foreclosure Law
By Linaldo Donovan-Green On June 5, 2015, the Maine Legislature enacted new amendments to Power of Sale Foreclosure Law. The following “power” is a statutory power in written into a mortgage which is triggered upon any default in the performance of a mortgage. Under the provision, a mortgagee may foreclose and sell encumbered real estate […]
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Maine Enacts and Amends Foreclosure Regulation
by: Margaret WrightOn April 5, 2014, the Maine Legislature enacted new additions and amendments to existing Maine foreclosure regulation for the purpose of expediting the foreclosure process. Transfer Taxes and Foreclosed Real Property Newly enacted are sections concerning the assignment of rights in a foreclosed property made during the time between the judgment of foreclosure […]
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Maine Modifies Provisions to Facilitate the Multistate Licensing Process
by: Lee GreenbergThe state of Maine recently modified several provisions of the Maine Consumer Credit Code (S.P. 643 and 678) to facilitate the multistate licensing process. The modified provisions are effective on July 15, 2014 (or 90 days after legislative adjournment). Under the new legislation, the administrator must receive and act on all applicants for […]