Rhode Island passed a bill extending the sunset date of the Foreclosure Mediation Program (Program) for an additional 5 years. Under the bill, the sunset
Vermont passed a bill enacting the Revised Uniform Law on Notarial Acts. The Revised Uniform Law on Notarial Acts is modeled upon the Revised Uniform
Iowa passed a bill shortening the redemption period following a foreclosure sale. Under the bill, a lender and borrower may agree (in the mortgage instrument)
Virginia passed a bill amending Notice of Sale requirements under the nonjudicial foreclosure process. Under the bill, if a lender or servicer has received notification
Indiana passed a bill permitting electronic powers of attorney. Under the bill, a principal, or person acting at the principal’s direction, may create a valid
Georgia passed a bill amending the Power of Attorney Act (PAA). Under the bill, persons who witness or who acknowledge (e.g., notary publics) the execution
Tennessee passed a bill authorizing online notarization of documents and establishing procedures for the performance of online notarizations. An online notarization is a notarial act
New York passed a bill repealing certain exemptions for reverse mortgages under the state’s foreclosure laws. Under existing law, reverse mortgage transactions are exempt from
Montana adopted rules reducing license renewal fees under the Montana Mortgage Act (MMA). Under the adopted rules, renewal fees for licenses issued under the MMA
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
Fannie Mae issued Servicing Guide Announcement SVC-2025-01 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae introduced new cybersecurity requirements for
Freddie Mac issued Bulletin 2025-2 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac: Revisions related to the portfolio reconciliation requirement
New York passed a bill amending recently enacted flood insurance requirements and restrictions for mortgage lenders and servicers. In December, 2024, New York passed a
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