Illinois Adopts Provisions Under its Residential Mortgage License Act
The Illinois Department of Financial and Professional Regulation recently adopted rules (starting on page 5272 of the linked document) to amend certain parts of its... Read More
State Regulatory Developments
New Maryland Foreclosure Statute Amendment Protects Government Workers from Foreclosure during a Government Shutdown
On May 13, 2019, Maryland promulgated an Act containing a foreclosure stay provision, effective immediately, staying foreclosure actions on owner-occupied residential property of government workers,... Read More
Utah Increases Civil Penalties for Violations of Certain Consumer Protection Acts
The state of Utah recently amended provisions of the Utah Protection of Personal Information Act (PPIA) and the Utah Consumer Credit Protection Act (CCPA). The... Read More
Washington Amends Electronic Notary Provisions
Washington State Governor Jay Inslee recently signed into law a bill, Senate Bill 5641 (SB 5641), which authorizes Washington electronic records notaries public to perform... Read More
New Jersey Revises RMLA and Various Foreclosure Acts
On April 29, 2019, the New Jersey governor signed a number of bills amending the New Jersey mortgage foreclosure process. The amendments affect foreclosure-related and... Read More
Georgia Amends Definition of “Mortgage Broker” In Licensing Laws
On April 18, 2019, Georgia amended its law regarding the licensing of mortgage lenders and mortgage brokers to exempt retailers and retail brokers of manufactured... Read More
Maryland Amends Net Worth Rules for Certain Mortgage Lending, Brokering, and Servicing Activities, Among Other Significant License-Related Amendments
Maryland recently signed into law House Bill 61 (HB 61), which, among other things, identifies minimum net worth requirements for mortgage loan servicers, clarifies and... Read More
Tennessee Adopts Provisions Regarding Online Notarizations
The Tennessee Department of State recently adopted emergency rules to implement the state’s Online Notary Public Act (Act). These rules, among other things, establish the... Read More
NYDFS Announces Newly Created Consumer Protection and Financial Enforcement Division
The New York Department of Financial Services (DFS) recently announced the creation of the Consumer Protection and Financial Enforcement Division, a new division of the... Read More
Iowa Amends its Regulated Loan Act and Consumer Credit Code
On April 15, 2019, the Iowa Governor signed House File 260 (HF 260), amending the maximum interest rate or charges permitted for certain loans under... Read More
New Jersey Enacts Mortgage Servicers Licensing Act Provisions
New Jersey Governor Phil Murphy recently signed into law a bill, Assembly Bill A-4997 (A-4997), which amends the Mortgage Servicers Licensing Act (the Act). This... Read More
New York Starts Licensing of Appraisal Management Companies
The New York Department of State, Division of Licensing Services has opened its online portal to permit AMCs to apply for New York AMC licenses.... Read More
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