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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 08, 2020

Oregon Protections form the Effects of the COVID-19 Pandemic

Oregon House Bill 4204 establishes temporary limitations on lenders being able to enforce default remedies on obligations secured by mortgages, trust deeds, land sale contracts or other instruments, effective June 30, 2020; includes: requirements to defer payments; escrow impound considerations; notice requirements for residential and commercial borrowers; a written notice to borrower of borrower's rights for accommodation under Act; prohibitions on fees, penalties and charges; foreclosure dismissals; and provides for actual damages in event of suit by a borrower.

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July 08, 2020

Florida Gov. Slashes $225M for Affordable Housing Initiatives

MReport – Mike Albanese

According to a report by Orlando Sentinel, Florida Governor Ron DeSantis vetoed $225 million of funding previously allocated for the State Housing Initiatives Partnership.

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July 02, 2020

Oregon Temporary Remote Online Notary Law

Oregon House Bill 4212 temporarily allows notary publics to perform notarial acts using communication technology for remotely located individuals under certain circumstances, effective June 30, 2020 through June 30, 2021.

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July 01, 2020

Nebraska Adopts Provisions Regarding Notaries

The Nebraska Secretary of State has adopted the proposed regulations relating to the "Electronic Notary Public Act" effective immediately.

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June 30, 2020

Revised Mississippi Law on Notarial Acts

Mississippi House Bill 1156 enacts the “Revised Mississippi Law on Notarial Acts”, amending and repealing provisions of Miss. Code Ann. § 89-3-7, effective July 1, 2021.

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June 29, 2020

Colorado Enacts Provisions Regarding Remote Notarization

Colorado Senate Bill 96 enacts authorization for notaries public to perform notarial acts using audio-video communication, and, in connection therewith, making an appropriation; effective December 31, 2020.

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June 25, 2020

NY Department of Financial Services Issues Mortgage Loan Servicer Business Conduct Rules FAQS

Weiner Brodsky Kider PC 

The NY Department of Financial Services (DFS) issued FAQs and an industry letter that provides guidance on 3 NYCRR Part 419, Servicing Mortgage Loans: Business Conduct Rules.

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June 25, 2020

Indiana DFI Issues Guidance Regarding Senate Bill 395

Weiner Brodsky Kider PC 

In advance of the Indiana Uniform Consumer Credit Code (UCCC) effective July 1, 2020, the Indiana Department of Financial Institutions (DFI) has issued an advisory letter and related FAQs providing guidance to lenders and sellers on the changes. 

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June 24, 2020

Attorney General for District of Columbia Files “True Lender” Complaint Against Elevate Bank Program

Ballard Spahr, LLP – Jason M. Cover

In the Superior Court of the District of Columbia, Attorney General Karl A. Racine filed a complaint against Elevate Credit, Inc. alleging violations of D.C. Consumer Protection Procedures.

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June 22, 2020

Connecticut Once Again Extends No-Action Policy on Branch Licensing for Debt Collectors Working from Home

insideARM – Katie Grzechnik Neill

For the third time, Connecticut extended its no-action policy, which relaxes the branch office licensing requirement for debt collectors who are working remotely due to the COVID-19 pandemic. 

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June 18, 2020

California governor extends time period to submit real estate renewal applications, fees, and continuing education requirements

Buckley LLP--InfoBytes Blog

California Executive Order N-52-20 grants an additional 60-day extension to submit real estate license renewal applications, fees, and continuing education requirements. 

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June 18, 2020

Missouri extends executive order regarding remote notary services

Buckley LLP--InfoBytes Blog

Missouri Executive Order 20-08 extends remote notary authorization through August 28, 2020.

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June 18, 2020

Illinois Delinquencies Poised to Increase

DSnews – Seth Welborn

According to the Illinois Policy report, the Illinois housing market was one of the weakest in the nation before 2020. 

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June 17, 2020

Louisiana Enacts Provisions Regarding Electronic Notarial Acts

Louisiana House Bill 274 provides for the execution of electronic notarial acts, recordation of tangible copies of electronic acts, limitations relative to remote online notarization, definitions, rulemaking, duties of notaries public, and recordkeeping requirements, generally effective August 1, 2020 with some noted exceptions.

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