Georgia adopted rules amending certain mortgage servicer standards for mortgage servicers licensed under the Residential Mortgage Act. Under the adopted rules, the mortgage servicer standards set forth in Ga. Comp. R. & Regs. r. 80-11-6-.02 (concerning loss mitigation requirements, fee restrictions and due diligence requirements) now apply only to closed-end mortgage loans (rather than all mortgage loans). The adopted rules also amend timing requirements with respect to loss mitigation applications, and provide an additional exemption to loss mitigation requirements. The adopted rules become effective July 25, 2018.
See the Department of Banking and Finance website for the full text of the Regulations:
https://dbf.georgia.gov/sites/dbf.georgia.gov/files/related_files/document/DBF-Final-Rulemaking_6-27-2018.pdf
