Texas amended the state constitution with respect to “home equity loans.” The constitutional amendment: lowers the 3% home equity loan fee cap to 2% (of
Oregon passed a bill enacting the Mortgage Loan Servicer Practices Act (MLSPA). Under the bill, a person may not service a residential mortgage loan in
The Pennsylvania Department of Banking and Securities issued a bulletin increasing the residential mortgage threshold under the Loan Interest and Protection Law (LIPL). Under the
The New Jersey Department of Banking and Insurance issued a bulletin amending the high-cost home loan limit under the Home Ownership Security Act of 2002
Maryland passed a bill amending the Personal Information Protection Act (PIPA). Under the bill, the definition of personal information is expanded to include passport numbers
Maryland passed a bill requiring lenders and servicers to provide a “notice of foreclosure” (Notice) to the Department of Labor, Licensing, and Regulation (Department). Under
Illinois amended rules under the Residential Mortgage Licensing Act (RMLA). Under the amended rules, mortgage lenders, brokers, servicers and purchasers must now file and maintain
Maryland passed a bill amending “notice of sale” requirements under the nonjudicial foreclosure process. Under the bill, a “notice of sale” provided in connection with
Connecticut passed a bill amending the content of the statutory power of attorney forms under the Uniform power of Attorney Act. The bill becomes effective
South Carolina passed a bill amending the Licensing of Mortgage Brokers Act (LMBA). The amendments to the LMBA: remove the requirement that mortgage brokers maintain
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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