Mortgage Document Preparation Compliance Alerts

  • California and New Jersey Legislative Update

    February 23, 2012

    The California legislature recently enacted legislation effective January 1, 2012, adding a section to the Business and Professions Code governing information about real estate licensees provided on the Internet.  The New Jersey legislature recently enacted legislation governing the recording of documents.  This legislation is effective May 1, 2012.

     

    CALIFORNIA SENATE BILL 706

     

    The Real ...

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  • Anti-Money Laundering and Suspicious Activity Reports and Home Mortgage Disclosure Act

    February 22, 2012

    Financial Crimes Enforcement Network (“FinCEN”), a bureau of the Department of the Treasury (“Treasury”), issued a Final Rule on February 14 defining non-bank residential mortgage lenders and originators as loan or finance companies for the purpose of requiring them to establish anti-money laundering programs and to report suspicious activities under the Bank Secrecy Act (“BSA”).  The rule is effective ...

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  • South Carolina Legislative Update

    February 10, 2012

    The South Carolina legislature recently enacted legislation governing transfer fees covenants.  The legislation was effective February 1, 2012.

     

    South Carolina House Bill 3095

     

    “Association” means a nonprofit, mandatory membership organization comprised of owners of homes, condominiums, cooperatives, manufactured homes, or any interest in real property, created pursuant to a declaration, covenant, or other applicable law.

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  • New York and Ohio Legislative Update

    February 06, 2012

    The New York legislature addressed 203(K) loans as they relate to mortgage brokers and home improvement contractors.  The Ohio legislature recently enacted the Uniform Power of Attorney Act (the “Act”). 

     

    NEW YORK ASSEMBLY BILL 8909/SENATE BILL 6124 (effective January 12, 2012)

     

    Our November 14, 2011 Compliance Memorandum discussed New York Assembly Bill 1913/Senate Bill 4038, ...

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