Mortgage Document Preparation Compliance Alerts

  • Michigan Legislative Update

    December 30, 2011

    The Michigan legislature recently amended its laws relating to foreclosure proceedings.

     

    MICHIGAN HOUSE BILL 4542 (effective December 28, 2011)

     

    A party must not commence proceedings to foreclose a mortgage on property claimed as a principal residence with a homestead exemption if:

    • After a notice is mailed to the borrower, the time for the borrower to request, either ...

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  • Arkansas, New Jersey, Ohio, Oregon and Pennsylvania Regulatory and Florida Judicial Update

    December 28, 2011

    The Arkansas Securities Department recently amended its regulations in regards to the Fair Mortgage Lending Act (the “Act”) by changing mortgage broker, mortgage banker, and mortgage servicer surety bond requirements and revising licensee reporting requirements for mortgage activity.  New Jersey’s definition of “high cost” loans, Ohio’s prepayment penalty adjustment and Pennsylvania’s “base figure” adjustment were amended....

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  • Arkansas Regulatory and Florida Judicial Update

    December 21, 2011

    The Arkansas Securities Department recently amended its regulations in regards to the Fair Mortgage Lending Act (the “Act”) by changing mortgage broker, mortgage banker, and mortgage servicer surety bond requirements and revising licensee reporting requirements for mortgage activity.  The Florida Supreme Court issued an Administrative Order for foreclosure cases.

     

    ARKANSAS FAIR MORTGAGE LENDING ACT RULES (effective December 1, ...

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  • Federal Regulatory and Pennsylvania County Court Update

    December 16, 2011

    The Office of the Comptroller of the Currency (the “OCC”) recently issued a Bulletin addressing problems with foreclosed residential properties to national banks and federal associations (“bank” or “banks”).  The Schuylkill County Court of Common Pleas in Pennsylvania recently issued an Administrative Order establishing the Residential Mortgage Foreclosure Diversion Program (the “Program”).

     

    OCC BULLETIN 2011-49: GUIDANCE ON POTENTIAL ...

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