Connecticut passed a bill amending the Nondepository Mortgage Lenders and Brokers Act. Under the bill, a mortgage lender, correspondent lender, and broker must provide the
South Carolina passed a bill amending the South Carolina High-Cost and Consumer Home Loans Act. The bill redefines “conventional mortgage rate” to mean the average
South Carolina passed a bill amending the Consumer Protection Code. This bill defines bridge loans as short-term consumer loans for residential real property acquisition or
Tennessee passed a bill enacting the Tennessee Reverse Mortgage Innovation Act and adding, amending, and deleting several reverse mortgage provisions. Under the bill, the Home
Minnesota passed a bill amending the Minnesota Residential Mortgage Originator and Servicer Licensing Act (MRMOSLA). Under the bill, the MRMOSLA was amended to modify the
Colorado passed a bill enacting the Uniform Mortgage Modification Act (UMMA). Per the bill, the UMMA was enacted to set forth the effect of a
Mississippi passed a bill amending the Mississippi S.A.F.E. Mortgage Act. Under the bill, Mississippi S.A.F.E. Mortgage Act requirements related to the following were amended: Also,
Alabama passed a bill requiring mortgage servicers to allow borrowers, without penalty, to make biweekly or semi-monthly mortgage payments and additional payments to the mortgage
Maine passed a bill enacting shared appreciation mortgage requirements under the Maine Consumer Credit Code. Under the bill, a supervised lender and/or servicer (as applicable):
Utah adopted rules amending the Residential Mortgage Practices Act. Under the adopted rules, the number of hours of Utah specific pre-licensing education a mortgage loan
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