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New Legislation Mortgage Servicers

Hinshaw & Culbertson - Consumer Financial...

New York Governor Hochul Signs Anti-Deed Theft Bill into Law: What Mortgage Lenders and Servicers Need to Know

New York Governor Kathy Hochul recently signed off on anti-deed theft legislation, as outlined in Senate bill 2023-S.6577 with companion Assembly bill 2023-A.6656.[1] The Governor signed the new legislation on November 14,...more

Ballard Spahr LLP

Amendments to Ohio’s Administrative Rules Relating to Residential Mortgage Lending

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The Ohio Department of Commerce, Division of Financial Institutions is amending the rules that implement the state’s Residential Mortgage Lending Act. The Division is seeking preliminary feedback on the administrative rules,...more

Goodwin

New York Courts Split on the Constitutionality of the Foreclosure Abuse Prevention Act

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In the six months since New York’s governor signed the Foreclosure Abuse Prevention Act, L. 2022, ch. 821 (eff. Dec. 30, 2022) (FAPA), a split has emerged about whether the law applies retroactively....more

Orrick, Herrington & Sutcliffe LLP

North Dakota amends mortgage licensing requirements

On March 13, the North Dakota governor signed SB 2090, which, among other things, revises licensing requirements for residential mortgage lenders. ...more

Orrick, Herrington & Sutcliffe LLP

NY restricts lenders’ ability to reset statute of limitations on foreclosures

In December, the New York governor signed A 7737-B, the “Foreclosure Abuse Prevention Act,” which amends the rights of parties in foreclosure actions....more

Mayer Brown

New York Enacts Retroactive Foreclosure Legislation

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While many around the world are setting their calendars forward for the year 2023, residential mortgage loan owners and servicers may need to also look backward in time now that New York Governor Kathy Hochul signed the...more

Bradley Arant Boult Cummings LLP

What Does CA AB 3088 Mean for Mortgage Servicers?

On September 1, 2020, California passed a new law titled the “COVID-19 Small Landlord and Homeowner Relief Act of 2020.” Although the majority of the new law addresses eviction issues between landlords and tenants, it imposes...more

McGlinchey Stafford

NYDFS FAQs Confirm Scope of COVID Mortgage Forbearance Law

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Governor Andrew Cuomo signed S8428/A10530 and S8243-C/A10351-B into law on June 17, 2020. Collectively, in relevant part, the legislation creates N.Y. Banking Law § 9-x, which relates to residential forbearances as a result...more

Ballard Spahr LLP

Michigan Adopts Temporary Authority Provisions

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Michigan has joined a number of states that have amended its statutes to grant certain individuals temporary authority to act as a mortgage loan originator while a license application is pending, in conformity with the...more

Ballard Spahr LLP

Wisconsin Adopts Temporary Authority Provisions

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Wisconsin is the latest state to pass legislation amending its statutes to add provisions addressing temporary authority to operate as a mortgage loan originator while a license application is pending pursuant to the federal...more

Ballard Spahr LLP

Washington State Adopts Temporary Authority Provisions

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Washington State has enacted legislation amending its regulations to permit temporary authority to operate as a mortgage loan originator...more

Ballard Spahr LLP

Alaska Expands Mortgage Licensing Exemptions

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As a result of a new Alaska law, HB 104, the following are exempted from mortgage loan originator requirements in the state: Employees of federal, state, or local government agencies...more

Bradley Arant Boult Cummings LLP

Ohio Mortgage Servicing Update

The Ohio Division of Financial Institutions (DFI) recently provided the much-needed updates to the recent legislation that expanded the registration requirements under the Ohio Residential Mortgage Lending Act (RMLA). The...more

Harris Beach PLLC

New York State Issues Stern Reminder Regarding Zombie Properties

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Three years ago today, the MuniBlog shared an article in the New York Law Journal by Harris Beach partner Leon Sawyko regarding "zombie houses" and the problems they posed for municipalities throughout the state, and...more

Troutman Pepper

Connecticut Places Additional Requirements on Judgement Lienholders

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Connecticut Governor Dannel Malloy recently signed a new bill into law that helps Connecticut consumers understand how much they would need to pay in order to satisfy a judgement lien....more

A&O Shearman

US House of Representatives Passes Five Bills Affecting Financial Institutions

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The US House of Representatives passed five bills focused on regulatory reform for financial institutions. The bills passed by the House include: the Housing Opportunities Made Easier Act (H.R. 2255), which amends the Truth...more

Ballard Spahr LLP

Vermont Enacts Loan Solicitation License, Amends Other Financial Regulation Licensing Provisions

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Entities engaged in the business of loan solicitation are now required to be licensed with the Vermont Department of Financial Regulation following the recent enactment of Act 22. Loan comparison websites, lead generators,...more

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New York Imposes Expanded Duties on Mortgage Servicers

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New York Governor Andrew Cuomo signed AB 10741 into law on June 23, 2016. AB 10741, which is designed to address abandoned homes, known as zombie properties, amends several provisions of New York law and requires mortgage...more

Carlton Fields

Title Insurance Regulatory and Legislative Update - February 2015

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FEDERAL - New CFPB Compliance Bulletin Impacts Service Providers: The Consumer Finance Protection Bureau (“CFPB”) recently issued Compliance Bulletin 2015-01, which reminds persons subject to the regulatory authority...more

Ballard Spahr LLP

Congress votes unanimously to extend SCRA one-year foreclosure protection period

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Congress has unanimously approved legislation to extend until January 2016 a provision of the Servicemembers Civil Relief Act (SCRA) that prohibits foreclosing on a servicemember’s house for one year following the...more

Ballard Spahr LLP

The Impact of Dual Tracking Restrictions on Foreclosure Rates in California

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Foreclosure rates are declining in California. Many tout an improving economy as a reason for this trend. The impact of new legislation that restricts lenders and mortgage servicers from foreclosing on residential mortgages...more

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