Colorado passed a bill repealing the “disclosure of fees and costs” required under the Mortgage Loan Originator Licensing and Mortgage Company Registration Act (MLOLMCRA) and
Michigan passed a bill repealing the Borrower Bill of Rights and the Consumer Caution and Home Ownership Counseling Notice. Under the bill, a lender is
Virginia passed a bill amending office requirements under the Lender and Broker Act. Under the bill, a mortgage lender and broker is no longer required
Florida passed a bill amending the timeframe for canceling a mortgage upon full satisfaction of the mortgage. Under the bill, a lender or servicer must
Wyoming passed a bill allowing documents to be electronically recorded pursuant to the Uniform Real Property Electronic Recording Act. The bill becomes effective January 1,
The New York Department of Financial Services (Department) issued an industry letter mandating the use of the national average commitment rate when determining whether
In November of 2015, Georgia adopted rules aligning disclosure requirements under the RMA with the disclosure requirements under the new TILA-RESPA Integrated Disclosure rule. This
Nevada Adopts Mortgage Servicer Act Rules Nevada adopted rules amending the Mortgage Servicer Act (MSA). The adopted rules: establish requirements and application procedures for licensure;
Vermont repeals and readopts rules governing the treatment of nonpublic personal information about borrowers by financial institutions. The readopted rules are substantially similar to the
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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