Mississippi passed a bill amending the S.A.F.E. Mortgage Act (SMA). Under the bill: annual continuing education requirements for mortgage loan originators and qualifying individuals are
Washington passed a bill requiring lenders and servicers to quarterly report to the Department of Commerce (Department) the number of Notices of Sale that have
Utah passed a bill enacting protections for tenants of rental property in foreclosure. Under the bill, a purchaser of residential rental property at a foreclosure
Nebraska passed a bill amending the Financial Data Protection and Consumer Notification of Data Security Breach Act (Act). Under the bill, a person that is
Utah passed a bill requiring mortgage lenders licensed under the Utah Residential Mortgage Practices and Licensing Act (URMPLA) to file a Residential First Mortgage Notification
Washington passed a bill enacting the Uniform Power of Attorney Act. The Uniform Power of Attorney Act is modeled upon the Uniform Power of Attorney
West Virginia passed a bill permitting the recovery of additional charges in the event of a consumer loan default. Under the bill, a lender or
Utah passed a bill enacting the Uniform Power of Attorney Act. The Uniform Power of Attorney Act is modeled upon the Uniform Power of Attorney
West Virginia passed a bill permitting the collection of interest on a loan during the rescission period (when a right of rescission applies under the
Kansas passed a bill amending the Mortgage Business Act (MBA). The bill amends the MBA by: adding a definition for “mortgage servicer” and “mortgage servicing”;
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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