Colorado passed a bill enacting the Nonbank Mortgage Servicers Act (NMSA). Under the bill, effective January 31, 2022, a person may not act as a mortgage servicer (directly or indirectly) with respect to a residential mortgage loan secured by residential real property located in Colorado without notifying the Attorney General of Colorado pursuant to the Nonbank Mortgage Servicers Act (CNMSA), unless exempt. The bill also enacts provisions under the NMSA with respect to exemptions, fees, reporting, renewal notifications, examinations and recordkeeping. The bill becomes effective January 1, 2022.
See Colorado tate Legislature website for the full text of the Statute: http://leg.colorado.gov/sites/default/files/2021a_1282_signed.pdf
Click to view the CO HB 1282: https://www.tenaco.com/wp-content/uploads/2021/09/CO-HB-1282-07-08-21.pdf
