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
Wisconsin passed a bill eliminating the requirement that lenders and servicers pay interest on funds held in escrow. Under the bill, lenders and servicers are
West Virginia passed a bill amending the SAFE Mortgage Licensing Act. Under the bill, the license application fee increased from $50 to $200. The bill
South Dakota passed a bill establishing disclosure requirements in the event of a security breach. Under the bill, an “information holder” must disclose a security
Texas adopted rules relating to home equity lending in light of recent amendments to the Texas Constitution. The adopted rules: update references to the fees
Ohio passed a bill consolidating all residential mortgage loan licensing under the Residential Mortgage Lending Act. Ohio previously regulated the residential mortgage industry under Chapter
Fannie Mae issued Selling Guide Announcement SEL-2025-02 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae is integrating Condo Project Manager
Fannie Mae revised the West Virginia Security Instrument Form (Form 3049). The revision updates paragraph 1 (pertaining to payment of principal, interest, escrow items, prepayment
Freddie Mac issued Bulletin 2025-4 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac introduced the Freddie Mac Income Calculator, designed
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