Tennessee passed a bill authorizing online notarization of documents and establishing procedures for the performance of online notarizations. An online notarization is a notarial act
New York passed a bill repealing certain exemptions for reverse mortgages under the state’s foreclosure laws. Under existing law, reverse mortgage transactions are exempt from
Montana adopted rules reducing license renewal fees under the Montana Mortgage Act (MMA). Under the adopted rules, renewal fees for licenses issued under the MMA
Indiana passed a bill allowing expedited payment service fees under the Uniform Consumer Credit Code. Under the bill, lenders and servicers may charge borrowers a
Maryland passed a bill allowing documents to be electronically recorded pursuant to the Uniform Real Property Electronic Recording Act. The bill becomes effective October 1,
Oregon passed a bill amending security breach disclosure requirements. Under the bill, persons that own, license or otherwise possess personal information must provide a security
Alabama passed a bill enacting the Data Breach Notification Act of 2018 (DBNA). The DBNA imposes requirements on “covered entities” (entities that acquire or use
Iowa passed a bill amending release of lien timing requirements. Under the bill, mortgage lenders and servicers must record a release of lien within 30
Oklahoma passed a bill allowing electronic payment convenience fees in connection with loans subject to the Uniform Consumer Credit Code. Under the bill, a lender
Kentucky passed a bill enacting the Uniform Power of Attorney Act. The Uniform Power of Attorney Act is modeled upon the Uniform Power of Attorney
Arizona adopted a rule permitting employees (including loan originators) to work at remote locations. Under the adopted rule, a mortgage banker licensed under the Mortgage
FHA issued a temporary partial regulatory waiver waiving the recently increased base flood elevation requirement for certain newly constructed properties. On April 23, 2024 FHA
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
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