Compliance Newshub
State News

HousingWire--Kathleen Howley

California, second only behind Oregon, has enacted a statewide law effective January 1, 2020, that caps the annual increase a landlord is allowed to charge, as well as requires landlords to have “just cause,” such as failure to pay rent, before terminating a lease.

Reverse Mortgage Daily--Chris Clow

Oregon's Homeownership Stabilization Initiative (OHSI) program is on track to assist the majority of the state’s foreclosed reverse mortgage borrowers just in time for a final round of applications, which are expected to begin in Spring 2020.

Los Angeles Times--James F. Peltz

California cities and counties will be allowed to establish public banks under a controversial bill signed into law Wednesday by Gov. Gavin Newsom, making California only the second U.S. state to allow such institutions.

Indiana issued an emergency rule revising requirements pertaining to mortgage loan originators to incorporate changes to the federal SAFE Act related to MLO temporary authority effective November 24, 2019.

The Maryland Commissioner of Financial Regulation adopted new and updated regulations regarding mortgage lenders effective October 4, 2019.

Ohio has adopted provisions of Ohio Revised Code, Title 1, Chapter 147: Notaries Public and Commissioners, effective September 22, 2019.

Buckley LLP

California lawmakers amended the California Consumer Privacy Act (CCPA or the Act).

Ballard Sparh LLP--Gregory P. Szewczyk; Philip N. Yannella 

Last week California lawmakers approved five amendments intended to clarify the scope of the California Consumer Privacy Act (the “CCPA”), but rejected several industry-backed proposals that would have exempted personal information used for targeted advertising and loyalty programs.

Ballard Sparh, LLP--Meredith J. Risati

The Washington State Department of Financial Institutions (“DFI”) recently reported that it had interpreted the Servicemembers Civil Relief Act (“SCRA”) broadly to apply the SCRA’s 6% interest rate cap to a loan agreement entered into only by a servicemember’s spouse. 

Housingwire--Kathleen Howley

Bill AB5 was passed by California lawmakers which distinguishes about one million independent contractors as employees providing them with employee benefits such as sick time, family leave, and health insurance but not for licensed real estate agents, insurance agents and other professionals.

Effective immediately (August 16, 2019), the Finance Commission of Texas has adopted amendments to §2.201 concerning Residential Mortgage Loan Originators Regulated by the Office of Consumer Credit Commissioner.

Michigan published a schedule of fees for the licensing year January 1, 2020 to December 31, 2020 sufficient to cover the costs of administering the Mortgage Loan Originator Licensing Act.