Mortgage Document Preparation Compliance Alerts

  • Indiana Legislature Update

    May 31, 2011

    The Indiana legislature has recently amended its foreclosure laws. 

     

    Indiana Senate Bill 582

     

    As indicated below, certain provisions of the Bill were effective May 10, 2011, and other provisions are effective July 1, 2011.

     

    THE FOLLOWING PROVISIONS WERE EFECTIVE MAY 10, 2011

     

    “Authority” means the Indiana Housing and Community Development Authority.

     

    “Loss ...

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  • Arkansas Legislative Update

    May 27, 2011

    The Arkansas legislature recently amended the Fair Mortgage Lending Act and the Title Insurance Act.  Legislation addressing broker’s price opinions, statutory foreclosures and real property transfer taxes has also been enacted.  All of the legislation is effective July 7, 2011.

     

    Arkansas House Bill 1981

     

    The Arkansas Securities Commissioner (the “Commissioner”) may approve by order a ...

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  • Hawaii Legislative Update

    May 26, 2011

    The Hawaii legislature recently amended its foreclosure laws and mortgage servicers laws.

     

    HAWAII SENATE BILL 651 (effective May 6, 2011)

     

    FORECLOSURE

     

    Mortgage Foreclosure Dispute Resolution

     

    The following provisions apply to nonjudicial foreclosures conducted by power of sale of residential real property that is occupied by one or more borrowers who are owner-occupants.  The following ...

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  • New York, Utah, and Vermont Regulatory Update

    May 20, 2011

    The New York State Banking Department extended Emergency Regulations.  The Utah Department of Commerce, Division of Real of Estate (the “Division”) recently amended the Utah Residential Mortgage Practices and Licensing Rules (the “Rules”).  The Vermont Department of Banking, Insurance, Securities, and Health Care Administration (the “Department”) recently issued an order regarding the effective date of the sponsorship requirement ...

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  • Iowa Legislative and South Carolina Judicial Update

    May 13, 2011

    The Iowa legislature recently amended laws related to financial institutions, mortgage bankers and brokers, and mortgage loan originators.  The South Carolina Supreme Court recently issued an Administrative Order related to foreclosure prevention.

     

    IOWA HOUSE FILE 328 (effective May 3, 2011)

     

    Financial Institutions

     

    With respect to documents, materials, or other information that is shared or stored ...

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  • Iowa Legislative Update

    May 10, 2011

    The Iowa legislature recently amended its law on the licensing and regulation of real estate closing agents and also addressed a non-signing spouse’s interest in the homestead.  Both pieces of legislation are effective July 1, 2011. 

     

    IOWA SENATE FILE 2348

     

    Definitions

     

    “Closing agent” means a person who is not a party to the real ...

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  • District of Columbia, Idaho, Indiana and Virginia Legislative Update

    May 06, 2011

    The District of Columbia finalized its foreclosure law.  Recent Idaho legislation addresses a lien of assessment for water rights.  The definition of “balloon payment” was added to the Indiana statutes.  The Virginia legislature recently amended the definition of subordinate mortgages under its refinance mortgage laws, amended the definition of a mortgage loan originator under its mortgage loan ...

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  • Indiana and Kentucky Legislative and Colorado Regulatory Update

    May 05, 2011

    The Indiana legislature recently amended the Financial Institutions Code.  The Kentucky legislature recently amended laws governing abatement of nuisances which are effective June 20, 2011.  The Colorado Board of Mortgage Loan Originators (the “Board”) recently amended the mortgage loan originator rules.  The amendments are effective May 15, 2011.

     

    INDIANA HOUSE BILL 1529

     

    THE ...

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