Washington Enacts Uniform Power of Attorney Act
April 7, 2016
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 Permits Recovery of Additional Charges in the Event of Consumer Loan Default
April 7, 2016
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 Enacts Uniform Power of Attorney Act
April 4, 2016
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 Permits Collection of Interest during Rescission Period
March 31, 2016
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 Amends Mortgage Business Act
March 31, 2016
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”;
Colorado Repeals Disclosure of Fees and Costs and Loan Commitment Requirements
March 23, 2016
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 Repeals Borrower Bill of Rights and Consumer Caution and Home Ownership Counseling Notice
March 23, 2016
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 Amends Office Requirements under Lender and Broker Act
March 23, 2016
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 Amends Timeframe for Cancellation of Mortgages upon Full Satisfaction
March 23, 2016
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 Allows Electronic Recording of Documents
March 8, 2016
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,
