Indiana passed a bill allowing expedited payment service fees under the Uniform Consumer Credit Code. Under the bill, lenders and servicers may charge borrowers a
Maryland passed a bill allowing documents to be electronically recorded pursuant to the Uniform Real Property Electronic Recording Act. The bill becomes effective October 1,
Oregon passed a bill amending security breach disclosure requirements. Under the bill, persons that own, license or otherwise possess personal information must provide a security
Alabama passed a bill enacting the Data Breach Notification Act of 2018 (DBNA). The DBNA imposes requirements on “covered entities” (entities that acquire or use
Iowa passed a bill amending release of lien timing requirements. Under the bill, mortgage lenders and servicers must record a release of lien within 30
Oklahoma passed a bill allowing electronic payment convenience fees in connection with loans subject to the Uniform Consumer Credit Code. Under the bill, a lender
Kentucky passed a bill enacting the Uniform Power of Attorney Act. The Uniform Power of Attorney Act is modeled upon the Uniform Power of Attorney
Wisconsin passed a bill allowing internet-based foreclosure auctions. Under the bill, a county may enact an ordinance requiring mortgage foreclosure sales to be conducted online
Arizona passed a bill decreasing license fees under the Mortgage Bankers Statute and the Mortgage Brokers Statute. Under the bill, the initial license fee for
Wisconsin passed a bill amending requirements with respect to payoff statements. Under current law, lenders and servicers may not qualify a payoff amount or state
Fannie Mae issued Servicing Guide Announcement SVC-2024-06 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae clarified requirements related to eMortgages.
FHA issued Mortgagee Letter 2024-20 implementing Federal Flood Risk Management Standards for new construction properties located in Special Flood Hazard Areas. On April 23, 2024,
Fannie Mae issued Selling Guide Announcement SEL-2024-07 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: Revisions related to leasehold estates
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