Compliance Alert Archive

• Iowa and Oklahoma Regulatory Update

  July 18, 2011

  The Iowa Division of Banking and the Oklahoma Department of Consumer Credit recently amended their regulations.  Both amended regulations were effective July 1, 2011.

   

  IOWA RULES 187-18.1- 18.20

   

  The Iowa Division of Banking (“Division”) amended Iowa Administrative Code Chapter 18, Mortgage Bankers and Mortgage Brokers, to now require independent real estate closing companies to be licensed ...

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• Louisiana Update

  July 15, 2011

  Senate Bill 269 which was effective July 5, 2011, created the Louisiana Housing Corporation Act (the “Act”), which establishes the Louisiana Housing Corporation (the “Corporation”).  Effective midnight on December 31, 2011, the Board of Commissioners of the Louisiana Housing Finance Agency is abolished and will be replaced by the Governing Board of the Corporation (the “Board”).

   

  “Insured ...

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• Idaho and New Hampshire Legislative Update

  July 14, 2011

  The Idaho legislature recently amended its foreclosure laws and enacted laws governing loan modification assistance and mortgage loan modification fees.  The New Hampshire legislature recently amended its laws governing real estate transfer taxes and amended the definition of a “mortgage loan originator” under the Licensing of Nondepository First Mortgage Bankers and Brokers laws.

   

  IDAHO HOUSE FILE 331 (effective ...

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• Colorado and Hawaii Legislative Update

  July 13, 2011

  The Colorado legislature recently enacted legislation governing real property transfer fee covenants and amended the Mortgage Loan Originator Licensing and Mortgage Company Registration Act.  The Colorado legislation is effective August 9, 2011.  The Hawaii legislature recently amended the Hawaii Secure and Fair Enforcement for Mortgage Licensing Act (the “Act”).  The Hawaii legislation was effective July 7, ...

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• Oregon Legislative and Regulatory and Washington Legislative Update

  July 12, 2011

  The Oregon legislature and the Oregon Department of Consumer and Business Services recently revised the mortgage lending fees.  The Washington legislature recently amended its foreclosure laws and created the Foreclosure Mediation Program.

   

  OREGON HOUSE BILL 5014 (effective July 6, 2011)/OREGON RULES 441-860-0101 and 441-880-0400 (effective July 1, 2011)

   

  In addition to any fees required ...

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• Connecticut and New Hampshire Legislative Update

  July 11, 2011

  The Connecticut legislature recently amended the Banking Law of Connecticut (the “Banking Law”) to include the regulation of loan processors or underwriters and persons offering or engaging in debt negotiation.  The New Hampshire legislature recently amended its laws governing foreclosure consultants and pre-foreclosure conveyances related to short sales.

   

  CONNECTICUT HOUSE BILL 6284 (effective July 21, 2011)

   ...

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• Colorado, Louisiana, New York, North Dakota, Oregon, Tennessee, and Washington Legislative Update

  July 06, 2011

  The Colorado and New York legislatures extended recording fees.  The Louisiana legislature recently enacted legislation addressing the cancellation of mortgage and vendor’s liens inscriptions.  North Dakota has adopted a Uniform Real Property Transfer at Death Act.  The Oregon legislature recently enacted legislation addressing residual debt from short sales.  The Tennessee legislature recently amended its foreclosure laws....

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• Texas Legislative Update

  July 05, 2011

  The Texas legislature has recently amended its laws addressing notices of lis pendens, debt management services, foreclosure notices for members of the United States armed forces, secured creditor’s rights with regard to foreclosure during the administration of an estate, and acknowledgments of written instruments, and enacted laws relating to judicial foreclosure of a property owners’ association assessment lien and governing ...

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