The Ohio Division of Financial Institutions (Division) issued a Residential Mortgage Lending Letter (Lending Letter) allowing mortgage lenders, brokers and mortgage loan originators to act
Michigan passed a bill enacting the Uniform Power of Attorney Act. The Uniform Power of Attorney Act is modeled upon the Uniform Power of Attorney
Nebraska passed a bill amending the Residential Mortgage Licensing Act (RMLA). Under the bill, a lender and broker licensed under the RMLA must provide notice
Iowa passed a bill authorizing employees to work at remote locations. Under the bill, a mortgage lender, broker, or servicer licensed under the Mortgage Bankers
Iowa passed a bill exempting mortgage bankers from certain loan charge restrictions. Under the bill, a mortgage banker licensed under the Mortgage Bankers and Brokers
West Virginia passed a bill amending the Residential Mortgage Lender, Broker and Servicer Act (RMLBSA) and the SAFE Mortgage Licensing Act (SMLA). The bill amended
New Jersey passed a bill amending delivery requirements with respect to a notice of intention to foreclose mortgage lenders and servicers are required to provide
Wisconsin passed a bill eliminating variable rate, adverse action and transfer of servicing disclosure requirements. Under the bill, a lender is no longer required to
South Dakota passed a bill authorizing the electronic notarization of documents and establishing procedures for the performance of electronic notarizations. An electronic notarization is defined
South Dakota passed a bill increasing the amount consumers may be charged for dishonored checks. Consumers may now be charged up to $60 for a
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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