Iowa passed a bill exempting mortgage bankers from certain loan charge restrictions. Under the bill, a mortgage banker licensed under the Mortgage Bankers and Brokers
West Virginia passed a bill amending the Residential Mortgage Lender, Broker and Servicer Act (RMLBSA) and the SAFE Mortgage Licensing Act (SMLA). The bill amended
New Jersey passed a bill amending delivery requirements with respect to a notice of intention to foreclose mortgage lenders and servicers are required to provide
Wisconsin passed a bill eliminating variable rate, adverse action and transfer of servicing disclosure requirements. Under the bill, a lender is no longer required to
South Dakota passed a bill authorizing the electronic notarization of documents and establishing procedures for the performance of electronic notarizations. An electronic notarization is defined
South Dakota passed a bill increasing the amount consumers may be charged for dishonored checks. Consumers may now be charged up to $60 for a
New Jersey passed a bill amending foreclosure provisions with respect to residential properties (1-to 4-family property used as a primary residence). Under the bill, a
California passed a bill authorizing online notarizations and establishing requirements for the performance of online notarizations. An online notarization is a notarial act performed by
Illinois passed a bill allowing mortgage loan originators to work from a remote location. Under the bill, a mortgage lender, broker, servicer, or purchaser licensed
Maryland passed a bill amending the content of the Statutory Form Personal Financial Power of Attorney and the Statutory Form Limited Power of Attorney under
Fannie Mae issued Selling Guide Announcement SEL-2025-02 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae is integrating Condo Project Manager
Fannie Mae revised the West Virginia Security Instrument Form (Form 3049). The revision updates paragraph 1 (pertaining to payment of principal, interest, escrow items, prepayment
Freddie Mac issued Bulletin 2025-4 (Bulletin) announcing revisions to the Single-Family Seller/Servicer Guide. Per the Bulletin, Freddie Mac introduced the Freddie Mac Income Calculator, designed
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