In January 2025, the Maryland Office of Financial Regulation (the “OFR”) issued a guidance stating that assignees of residential mortgage loans, including certain passive trusts, were required to hold a Maryland mortgage...more
Effective November 23, 2024, the Texas Department of Savings and Mortgage Lending (the “DSML”) adopted new rules affecting mortgage loan companies, mortgage bankers, individual residential mortgage loan originators, and...more
12/16/2024
/ Banking Sector ,
Department of Financial Protection and Innovation (DFPI) ,
Disclosure Requirements ,
Financial Services Industry ,
Lenders ,
Lending ,
Mortgage Lenders ,
Mortgage Loan Originators ,
Mortgage Servicers ,
Mortgages ,
Reporting Requirements ,
Residential Real Estate Market ,
Rulemaking Process ,
State and Local Government ,
Texas
On June 23, in Soaring Pine v. Park St Grp, the Michigan Supreme Court held that under certain circumstances, a lender cannot avoid liability for charging illegally high interest rates by including a usury savings clause in...more
On November 16, the California DFPI released Version 2.0 of its Annual Report of Finance Lenders, Brokers and PACE Administrators Licensed under the California Financing Law (CFL). The Annual Report examined unaudited data...more
On August 31, both houses of the California legislature passed and sent to Governor Newsom for signature the California Consumer Financial Protection Law (the CCFPL). Effective on January 1, 2021 if Governor Newsom signs the...more
9/16/2020
/ Consumer Financial Protection Bureau (CFPB) ,
Credit Reporting Agencies ,
Debt Collectors ,
Department of Business Oversight ,
Dodd-Frank ,
FinTech ,
Governor Newsom ,
Legislative Agendas ,
Lenders ,
Merchant Cash Advance (MCA) ,
State and Local Government ,
State Legislatures ,
Title X ,
UDAAP