New York issued guidance regarding discontinued publication of Primary Mortgage Market Survey (PMMS) rate for 5/1 adjustable rate mortgage loans (ARMS). Under New York Banking
Washington adopted rules allowing loan originators to work at remote locations. Under the rule, a mortgage lender or broker licensed under the Consumer Loan Act
Pennsylvania passed a bill amending breach of security requirements. The bill provides an alternate method of providing notice of a breach of security in the
California passed a bill amending the state’s foreclosure laws. Under the bill, if 1-to 4- family residential property is purchased at a foreclosure sale by
Delaware passed a bill enacting the Revised Uniform Law on Notarial Acts. The Revised Uniform Law on Notarial Acts is modeled upon the Revised Uniform
The District of Columbia passed a bill authorizing remote online notarizations and establishing requirements for the performance of remote online notarizations. A remote online notarization
Oregon adopted a rule allowing licensed mortgage loan originators and employees to work at home. Under the rule adoption, a mortgage banker or mortgage broker
Montana adopted rules repealing the previously adopted increased license renewal fees under the Montana Mortgage Act (MMA). In September of 2021, Montana adopted rules increasing
California passed a bill allowing employees to work at remote locations. Under the bill, finance lenders and brokers licensed under the California Financing Law may
California passed a bill amending Notice to Cosigner (Notice) requirements with respect to consumer credit contracts. Under the bill, all persons who sign a consumer
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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