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Mortgages › Amended Legislation

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Holland & Knight LLP

Little-Known Chicago Rental Ordinance Amendment Impacts Unsuspecting Foreclosing Lenders

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A foreclosing lender must offer existing Chicago tenants a new 12-month lease or pay them a substantial $10,600 relocation fee – and the tenant can decide which one to choose. This 2021 amendment to the Keep Chicago Renting...more

Goodwin

California Signs Two New Consumer Protection Bills into Law

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On September 25, 2019, California’s Governor signed into law two bills that impact financial consumer services companies in California: California Assembly Bill 539 and California Senate Bill 187.  Both laws go into effect...more

Ballard Spahr LLP

Maryland Amends Mortgage Lender Law Effective October 1, 2019

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Among other things, Maryland has amended its mortgage lender law as follows: Tangible Net Worth required by activity - Mortgage broker: $25,000...more

Bradley Arant Boult Cummings LLP

Arkansas Modifies Fair Mortgage Lending Act – Big Changes Will Ease Burdens on the Mortgage Industry

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The Arkansas State Legislature modified the Fair Mortgage Lending Act in February to “comply with recent developments in Federal Law and other purposes.” Federal law was recently amended to allow for Temporary Mortgage Loan...more

Holland & Knight LLP

New Jersey Improves and Clarifies Its Residential Mortgage Lending Act

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• The State of New Jersey, on Aug. 24, 2018, enacted Assembly Bill 2035 that makes significant and important amendments (Amendments) to the Residential Mortgage Lending Act (RMLA), which had not been amended since it was...more

Ward and Smith, P.A.

Your Foreclosure Hearing Just Got More Crowded

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On August 30, 2017, an amendment to North Carolina’s foreclosure statutes took immediate effect. The amended statute, Section 45-10, concerns substitute trustees under a deed of trust. As amended, Section 45-10 now prohibits...more

Ballard Spahr LLP

One-Year Period of SCRA Foreclosure Protection Remains in Effect through 2017

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On March 31, 2016, President Obama signed into law the Foreclosure Relief and Extension for Servicemembers Act of 2015, which continues through December 2017 a provision of the Servicemembers Civil Relief Act (SCRA) that...more

Locke Lord LLP

Illinois Legislature Deals Deathblow to Dina

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Recently, in a rare display of bipartisanship, the Illinois House and Senate passed—almost unanimously—an amendment to the Illinois Residential Mortgage License Act, 205 ILCS 635/1-1 et al. (IRMLA). On July 23, 2015, Governor...more

Bradley Arant Boult Cummings LLP

Notice Me: The New Notice Requirements for HOA Lien Foreclosures in Nevada

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In a previous blog post, we reported on Senate Bill 306, passed by Nevada Governor Brian Sandoval on May 28, 2015. The legislation redresses the substantial harm caused by SFR Investments Pool 1, LLC v. U.S. Bank, N.A. In SFR...more

Locke Lord LLP

Locke Lord QuickStudy: Rhode Island Superior Court Decision Impacting Servicers

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A Rhode Island superior court recently ruled that, pursuant to R.I. Gen. Laws § 34-27-3.2, foreclosing lenders are required to send mediation notices in any foreclosure initiated after the effective date (October 2014)...more

Ballard Spahr LLP

Hawaii Amends Mortgage Loan Origination Laws

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Hawaii has amended and enacted provisions governing mortgage loan origination and licensed mortgage loan originator companies. Specifically, SB 2817, which was signed into law on July 3, 2014, makes numerous changes to the...more

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