Compliance Newshub
State News

This topic consolidates legislative summaries of new and revised state laws pertaining to licensing, originating, and servicing mortgage loans. 

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July 02, 2024

Ohio Repeals Prohibition on Acting in Dual Capacity Real Estate Broker/Agent and Mortgage Professional

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May 30, 2024

Colorado Senate Bill 24-205 Artificial Intelligence Act, First of Its Kind Signed into Law - Impacts Developers and Users of AI

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April 17, 2024

Washington State “True Lender” Law Signed

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March 19, 2024

Wyoming House Bill 0145 Re: Open Banking Information Sharing Limitations- Effective July 1, 2024

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March 19, 2024

Wisconsin Bill Regulating Earned Wage Access Services Sent to Governor for Signature

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February 06, 2024

New Jersey Bulletin 24-01: 2024 High-Cost Home Loan Dollar Adjustment

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Learn Why Clients Love ACES

Learn Why Clients Love ACES

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January 17, 2024

New Jersey Amends Provisions Regarding Sheriffs Sales and Community Wealth Preservation Program

The State of New Jersey immediately amends provisions regarding foreclosure procedure and the Community Wealth Preservation Program.

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December 27, 2023

Ohio Adjusts Loan Limit for Prepayment/Refinancing Penalties

On Tuesday, December 26th, 2023, the Ohio Department of Commerce announced the annually adjusted loan limit amount for assessing penalties for prepayment or refinancing of mortgage loans to no less than $110,223, effective on January 1st, 2024.

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November 29, 2023

Vermont Announces Declared Rate for 2024

The Declared Rate for determining high-interest/high-point home loans in Vermont will be eight percent in 2024.

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November 09, 2023

Oklahoma Requires Citizenship Affidavit to be Recorded with Deeds

Effective November 1, 2023, Oklahoma county clerks will require an affidavit regarding compliance with state laws on foreign property ownership to be included with every deed filed.

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October 24, 2023

California Senate Bill 455

On October 13, 2023, California Senate Bill 455 was signed into law, requiring transferor mortgage servicers to provide any material written records between the borrower and servicer relating to the borrower's election to repair or replace property damaged in a disaster for which a state of emergency was proclaimed using insurance proceeds, and requiring the transferee servicer to honor any written agreements made prior to the transfer relating to such repairs.

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September 25, 2023

NY Amends Disclosure Re: Flood Insurance on Property Disclosure Statements

On September 22, 2023, the Governor of New York signed into law changes to section 462 of the real property law related to the property disclosure statement, effective March 20, 2024.

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August 16, 2023

Texas House Bill 219 - Updates Provisions Related to Release of Lien After Payoff

Effective September 1st, 2023, Texas House Bill 219 has amended provisions related to the timing requirements for lien releases after mortgagor payoff.

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June 20, 2023

Colorado Law Protects Reverse Borrowers Impacted by Natural Disasters from Foreclosure

Colorado's Governor has signed a bill into law to help protect reverse mortgage borrowers from foreclosure if they are impacted by natural disasters.

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