Mortgage Document Preparation Compliance Alerts

  • Missouri Regulatory Update

    June 29, 2010

    Missouri Mortgage Broker and Originator Rules

     

    The Department of Insurance, Financial Institutions and Professional Registration (the “Department”), Division of Finance (the “Division”) issued emergency rules which were effective May 17th to implement the Missouri Secure and Fair Enforcement for Mortgage Licensing and Residential Mortgage Brokers Licensing Act (the “Act”) in order to comply with the Federal Secure and ...

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  • Alaska Legislative Update

    June 22, 2010

    The Alaska legislature recently amended its Banking and Financial Institutions laws and enacted the Alaska Secure and Fair Enforcement for Mortgage Licensing Act of 2010 (the “Act”) (previously the Mortgage Lending Regulation Act) to comply with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (the “S.A.F.E. Act”).  If you have any questions concerning this Memorandum, please ...

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  • Georgia, Oklahoma and Vermont Legislative and Florida Regulatory Update

    June 21, 2010

    The Georgia legislature recently amended its laws addressing mortgage fraud.  The Oklahoma legislature has amended the Oklahoma S.A.F.E. Act as it regulates the Department of Consumer Credit (“Department”).  The Vermont legislature recently enacted foreclosure mediation laws.  If you have any questions concerning this memorandum, please contact Laura LaRaia.

     

    Georgia Senate Bill 371 (effective July 1, 2010...

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  • Colorado, Nebraska and Pennsylvania Legislative Update

    June 17, 2010

    The Colorado and Nebraska legislatures recently amended their foreclosure laws.  The Pennsylvania legislature recently amended the Model Act for the Regulation of Credit Life Insurance and Credit Accident and Health Insurance.  If you have any questions concerning this memorandum, please contact Laura LaRaia.

     

    Colorado House Bill 1240 (effective August 9, 2010)

     

    If the document notifying ...

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  • Illinois and Kentucky Legislative Update

    June 17, 2010

    The Illinois legislature recently enacted the Illinois Homeowner’s Emergency Assistance Program Act (the “Act”), which is effective through December 31, 2010.  The Kentucky legislature recently amended its laws on debt adjustment, foreclosure assistance, and consumer protection.  If you have any questions concerning this memorandum, please contact Laura LaRaia.

     

    Illinois House Bill 2360 (effective June 10, 2010...

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  • Minnesota Legislative Update

    June 15, 2010

    The Minnesota legislature recently enacted the Minnesota S.A.F.E. Mortgage Licensing Act of 2010 (the “Act”) to comply with the Federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (the “S.A.F.E. Act”) and amended its laws governing mortgage originator and servicing licensing.  If you have any questions concerning this memorandum, please contact Laura LaRaia.

     

    Minnesota Senate File ...

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  • Arizona Regulatory and Hawaii and Vermont Legislative Update

    June 10, 2010

    The Arizona Department of Financial Institutions (the “Department”) recently issued Emergency Rules (the “Rules”) governing loan originators.  The Hawaii legislature has created a Mortgage Foreclosure Task Force, and the Vermont legislature recently added a section to its Licensed Lenders Law addressing mortgage loan originator change of employer or sponsor.  If you have any questions concerning this memorandum, please ...

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  • Connecticut, Florida, Mississippi and Wisconsin Legislative and Alabama and Indiana Regulatory Update

    June 04, 2010

    The Connecticut, Florida, Mississippi and Wisconsin legislatures have recently enacted legislation affecting mortgage lenders.  The Alabama Banking Department has issued a Notice regarding the effective date of licensure.  The Indiana Department of Financial Institutions issued guidance for its Five Star Mortgage Program.  If you have any questions concerning this memorandum, please contact Laura LaRaia.

     ...

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  • Texas Regulatory Udpate

    June 02, 2010

    The Finance Commission of Texas (the “Commission”) recently adopted rules for residential mortgage loan originator application procedures under the Texas Secure and Fair Enforcement for Mortgage Licensing Act of 2009 (the Texas “S.A.F.E. Act”).  Our February 4, 2010 Memorandum discussed the Texas Department of Savings and Mortgage Lending’s (the “Department”) adoption of regulations to assist the Department in preparing ...

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  • Maryland Legislative Update

    June 01, 2010

    The Maryland legislature recently amended its laws addressing tenants and foreclosure, its laws addressing notice for filing a complaint to foreclose the right of redemption, and its foreclosure laws to provide for foreclosure prevention programs and enacted legislation addressing notice of housing counseling programs and services for mortgage loans.  If you have any questions concerning this Memorandum, please contact ...

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