Compliance Alert Archive

• Texas Judicial and Idaho Legislative Update

  March 25, 2011

  A Texas case related to foreclosure has recently been decided, and the Idaho legislature has addressed transfer fees.

   

  Biggers v. BAC Home Loans Servicing, LP f/k/a Countrywide Home Loans Servicing, LP., 2011 < region=''>U.S.< region=''> Dist. LEXIS 13104 (USDC ND Tex., 2/10/11)

   

  Plaintiffs, Mr. and Mrs. Biggers (the “Plaintiffs”), brought suit against defendant BAC due to ...

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• Mississippi, Nebraska and West Virginia Legislative and Colorado and New York Regulatory

  March 24, 2011

  The Mississippi legislature amended its SAFE Act, and the Nebraska legislature addressed electronic title/lien services and private transfer fee obligations.  West Virginia increased its penalty for violations of its licensing laws.  The Colorado Board of Mortgage Loan Originators (the “Board”) recently amended Colorado’s mortgage loan originator rules.  The Superintendent of the New York State Banking ...

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• Regulation Z Section 226.35 Final Rule

  March 11, 2011

  The Board of Governors of the Federal Reserve System (the “Board”) published a final rule to amend Section 226.35 of Regulation Z and its Commentary which is effective for covered loans for which an application is received by a creditor on or after April 1, 2011. 

   

  In 2008 the Board adopted final rules defining a class of ...

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• Colorado and Nebraska Legislative and Colorado, Michigan and Virginia Regulatory Update

  March 10, 2011

  The Colorado legislature recently enacted legislation addressing exemptions from mortgage loan originator licensing and extending the foreclosure deferment law while the Nebraska legislature addressed registration with the Nationwide Mortgage Licensing System and Registry (“NMLS”).  The Colorado Attorney General issued an opinion to lenders registered with the Colorado Department of Real Estate.  The Michigan Office of Financial and Insurance ...

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