Montana adopted rules reducing the license renewal fees under the Montana Mortgage Act (MMA) for 2017. Under the adopted rules, the renewal fee for a
Ohio passed a bill establishing the D.O.L.L.A.R. deed program (Program). The Program provides borrowers in default the opportunity to stay in their home following a
Ohio passed a bill amending the state’s foreclosure procedures. Under the bill, a foreclosing lender or servicer may elect to have foreclosed property sold by
South Carolina passed a bill clarifying the location of the boundary between North Carolina and South Carolina and enacting additional foreclosure notice requirements for properties
Massachusetts adopted rules amending the Mortgage Lender and Broker Laws (MLBL). Under the adopted rules: the exemption status for subsidiaries and affiliates of depository institutions
Texas adopted rules amending the Secondary Mortgage Loan Act. The adopted rules: require applicants for a lender or broker license to pay a fee for
Alaska passed a bill amending the state’s power of attorney provisions. The amended provisions are modeled upon the Uniform Power of Attorney Act drafted and
Alaska passed a bill permitting depository institutions to voluntarily register with the Department of Commerce, Community, and Economic Development (Department) for purposes of sponsoring mortgage
New Hampshire passed a bill repealing the Mortgage Servicing Companies Act (MSCA) and repealing and reenacting the Nondepository Mortgage Bankers and Brokers Act (NMBBA). Under
The Maine Bureau of Consumer Credit Protection and the Bureau of Financial Institutions have repealed and readopted a joint rule regulating alternative mortgage transactions. The
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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