Compliance Newshub
State News

Nevada Assembly Bill 245 increases fees that may be charged by a notary public effective July 1, 2021.

Oregon House Bill 2009 extends temporary limitations on lenders' remedies for borrowers' failures to make payments on obligations secured by mortgages, trust deeds, or land sale contracts for certain real property from December 31, 2020 to June 30, 2021.

Reverse Mortgage Daily--Chris Clow

Texas has active legislation affecting reverse mortgage lending, two current bills are, Texas House Bill 1129: False, misleading, or deceptive advertising in a reverse mortgage and SB 362: satisfaction of a reverse mortgage after the death of the ‘last surviving’ borrower.

Colorado has amended its provisions relating to foreclosure sales of real property effective immediately.

The Colorado Collection Agency Board has modified its provisions in relation to its Fair Debt Collection Practices Act effective on June 30, 2021.

New Hampshire amended its provisions to clarify home state licensing requirements for mortgage loan originators effective on July 24, 2021.

Texas Senate Bill 885 amends Chapter 13, Property Code, to add Section 13.006, which provides that after the fourth anniversary of the date a quitclaim deed for real property is recorded, the quitclaim deed does not affect the question of the good faith of a subsequent purchaser or creditor and is not notice to a subsequent purchaser or creditor of any unrecorded conveyance of, transfer of, or encumbrance on the real property; effective September 1, 2021

New York Senate Bill 6362 extends the "COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020" and the "COVID-19 Emergency Protect Our Small Businesses Act of 2021" until August 31, 2021.

Florida House Bill 7061 specifies that portions of a property not used for certain purposes are not exempt from ad valorem taxation; specifying that exemptions for certain portions of property from ad valorem taxation are not affected so long as such portions of the property are used for specified purposes; exempting certain multifamily projects from ad valorem taxation; requiring, rather than authorizing, tax collectors to accept late payments of prepaid property taxes within a certain timeframe; extending the expiration date of the sales tax exemption for data center property; exempting specified items that assist in independent living from the sales tax, etc. effective July 1, 2021.

Texas Senate Bill 43 enacts new Chapter 159 to the Texas Finance Code, which regulates wrap mortgage loan financing, which is defined as a loan used to purchase residential real estate that will continue to be subject to an unreleased lien that was not created by the borrower; provisions are effective January 1, 2022.

West Virginia amended their existing Standards and Guidelines for Electronic Notarization effective May 21, 2021, through August 1, 2026.

Arizona House Bill 2617 amends provisions to permit judgment liens on homestead properties and define requirements for title insurers on the sale of homestead properties subject to judgment liens effective December 31, 2021.