South Carolina passed a bill amending the Mortgage Lending Act (MLA). The amendments to the MLA: add a definition for “loan correspondent”; revise licensing requirements
New Jersey passed a bill requiring Servicers to respond to short sale offers. Under the bill, a servicer must respond to a short sale offer
Delaware passed a bill requiring a mortgagee or assignee to record a Statement of Mortgage Address Change when there is a change to the mortgagee
North Carolina passed a bill enacting the Uniform Power of Attorney Act. The Uniform Power of Attorney Act is modeled upon the Uniform Power of
Hawaii passed a bill amending the Secure and Fair Enforcement for Mortgage Licensing Act. Under the bill, an exempt sponsoring mortgage loan originator company must
Illinois passed a bill requiring lenders and servicers licensed under the Residential Mortgage License Act to accept certain arrearage payments offered by a borrower in
Illinois passed a bill extending the sunset date of the additional Foreclosure Prevention Program Fund and Abandoned Residential Property Municipality Relief Fund fee. Currently, a
Maryland amended rules under the Mortgage Originator Law. The amended rules: establish advertising requirements and restrictions; prohibit mortgage loan originators from conducting mortgage lending business
Georgia adopted rules establishing servicing standards under the Georgia Residential Mortgage Act (GRMA). The new servicing standards establish requirements with respect to: dual tracking; evaluation
Hawaii passed a bill requiring the release of a security instrument evidencing the assignment of the borrower’s interest in leases and rents upon full satisfaction
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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