Compliance NewsHub
State News

This topic consolidates legislative summaries of new and revised state laws pertaining to licensing, originating, and servicing mortgage loans. 

Subscribe Today

March 04, 2021

New York Attorney General Settles With Nationstar in Reverse Mortgage Disclosure Dispute

Reverse Mortgage Daily – Chris Clow

Nationstar Mortgage will pay $500,000 in the Reverse Mortgage Disclosure dispute as a result of the New York Office Attorney General's settlement.

View Source

March 03, 2021

Washington Adopts Provisions Regarding Remote Notarization

The Washington Department of Licensing published a permanent rule to incorporate changes required by SB 5641 to establish rules for remote notarization being performed by licensed Washington notaries effective March 14, 2021.

View Source

Are You Up to Date?

Search our Compliance Calendar for current
regulatory changes & updates from Fannie,
Freddie, FHA, VA, and USDA.

Search Now

March 03, 2021

Wyoming Enacts Provisions Regarding Uniform Consumer Credit Code

Wyoming House Bill 8 consolidates consumer credit provisions governing supervised loans into existing law for consumer loans; authorizing sales finance activities for specified licensees; providing for refunds upon termination of consumer credit sales and loans; exempting supervised financial institutions from specified notification and fee requirements; providing payoff calculations by assignees; amending the scope and applicability of the Wyoming Uniform Consumer Credit Code; making conforming amendments; repealing obsolete provisions; authorizing rulemaking; specifying applicability; effective July 1, 2021.

View Source

March 02, 2021

Texas OCCC Advisory Bulletin B20-2 Regulated Lender Advisory Bulletin: COVID-19 Emergency Measures

On February 18, 2021, the Texas Office of Consumer Credit Commissioner updated OCCC Advisory Bulletin B20-2 continues to encourage lenders to work with consumers impacted by COVID-19, provides a reminder of requirements for using electronic signatures, and provides guidance on conducting regulated lending activity from unlicensed locations; through March 31, 2021.

View Source

March 01, 2021

Virginia Amends Provisions Regarding Deeds of Trust

Virginia House Bill 1882 that a deed of trust that has been recorded and secures indebtedness or other obligations under a loan document may be amended, modified, supplemented, or restated from time to time, without the necessity of recording an amendment to such deed of trust; and requires that the interest rate of a prior mortgage be stated on the first page of a refinance mortgage effective July 1, 2021.

View Source

February 24, 2021

New Jersey Amends Provisions Regarding Non-Owner-Occupied Residential Property Foreclosures

New Jersey Assembly Bill 2964 requires all creditors that acquire title to non-owner occupied residential property following foreclosure to notify the municipality and common interest community effective February 22, 2021.

View Source
Join the Pack

Join the Pack

Improve your loan quality in 2021 with ACES Flexible Audit Technology.

Learn How

February 23, 2021

Washington State's Temporary WFH Rules for Collection Agencies Are Now Permanent: What You Need to Know

Inside ARM –Mike Bevel

Effective immediately, Washington State work from home rules for collection agencies are now permanent.

View Source

February 22, 2021

Indiana Amends Provisions Regarding Recording Requirements

Indiana House Bill 1056 amends the requirements for instruments and conveyances to be recorded, adds instances in which an instrument is considered validly recorded for purposes of providing constructive notice, and defines certain terms, effective February 17, 2020.

View Source

February 19, 2021

NY Court of Appeals Rules on Foreclosure Deceleration, SOL

DSNews--David Wharton

The State of New York Court of Appeals issued its decision in a case involving a lender's option to accelerate foreclosure, then voluntarily discontinue the foreclosure action, and its impact on the state's statute of limitations (SOL) timelines for foreclosures.

View Source

February 18, 2021

New York Amends Provisions Regarding Reverse Mortgage Foreclosure Filings

New York Senate Bill 884 amends the Reverse Mortgage Pre-Foreclosure Notice requirements to include additional information necessary to explain the mortgagor's rights in a foreclosure process, amends the information to be filed with the Superintendent to include an affirmative statement that final approval from the HUD was received to accelerate the reverse mortgage loan or that no such approval from HUD is required; and provides that authorized lenders shall comply with all applicable laws, regulations and any guidelines issued by HUD on loss mitigation for reverse mortgages, including record retention of specified loan-level data and loss mitigation data; effective on April 14, 2021.

View Source
ACES Impact: ROI Infographic

ACES Impact: ROI Infographic

ACES Customers Achieve Proven, Measurable ROI

View Infographic

February 18, 2021

Loss Prevention Program for D.C. Homeowners Re-launches

DS News – Christina Hughes Babb

To help homeowners experiencing COVID-related struggles, Washington D.C. reopened its HomeSaver foreclosure prevention program.

View Source

February 11, 2021

Wyoming Enacts Provisions Regarding Revised Uniform Law on Notarial Acts

Wyoming Senate File 0029 creates the Wyoming Revised Uniform Law on Notarial Acts, which repeals the Wyoming Uniform Law on Notarial Acts and allows for remote online notarization and remote ink notarization effective July 1, 2021.

View Source

February 05, 2021

Massachusetts Memorandum - Form of Acknowledgments and Powers of Attorney

The Chief Title Examiner in Massachusetts issued a memorandum addressing requirements concerning notary acknowledgments, and the Massachusetts forms of acknowledgment required by state law, as those requirements pertain to certain documents presented for registration, including powers of attorney.

View Source

February 05, 2021

California DFPI Invitation for Comments: CCFPL Rulemaking

The California Department of Financial Protection and Innovation (DFPI) is requesting comments on the establishment of regulations under the California Consumer Financial Protection Law (CCFPL) established by Governor Newsome on September 25, 2020; comments are due by March 8.

View Source