NYDFS Issues FAQs on Section 9-x’s Servicing and Forbearance Requirements
The New York Department of Financial Services (NYDFS) recently issued a set of Frequently Asked Questions (FAQs) relating to the recently enacted Section 9-x of... Read More
State Regulatory Developments
NY Department of Financial Services Adopts Final Regulations for Reverse Mortgages
The New York Department of Financial Services (NYDFS) recently published the final reverse mortgage regulations (Final Regulations) implementing Assembly Bill 5626’s reverse mortgage requirements. The... Read More
Missouri Moves Renewal Process to NMLS for Year 2020
Missouri will begin processing all renewals and collecting all renewal fees through NMLS beginning with this year’s renewal process. These changes take effect November 1,... Read More
Washington Extends Temporary Waiver of Certain Fees
The State of Washington Department of Financial Institutions, Division of Consumer Services recently circulated an email to consumer loan companies, notifying them that certain fees under... Read More
Missouri Revises Notary Laws
Governor Mike Parson signed into law HB 1655, which revises the statutes regarding notaries public and notarial acts. The bill is effective August 28, 2020.... Read More
DC Expands and Extends Reverse Mortgage Insurance and Tax Payment Program
The District of Columbia recently amended the District of Columbia Housing Finance Agency Act to temporarily expand and extend the Reverse Mortgage Insurance and Tax... Read More
PA Governor Wolf Extends Stay on Notices of Foreclosures and Evictions until August 31, 2020
On July 9, 2020 the Governor of Pennsylvania issued an executive order extending the suspension of foreclosure notices issued under Act 6 and Act 91,... Read More
Georgia Makes Significant Changes to Installment Loan Laws
On June 30, 2020, Georgia Governor Brian Kemp signed into law Senate Bill 462 (SB 462), which makes significant changes to what was formerly known... Read More
Alaska Amends Notary Law to Allow Remote Notarizations
Alaska Governor Mike Dunleavy signed into law a bill, House Bill 124 (HB 124), which revises Alaska’s notary law to permit remote notarizations. Among other... Read More
New York Settles with Debt Relief Company Again
A debt relief company recently entered into a proposed consent order with the New York Attorney General, agreeing to pay $3.6 million to settle allegations... Read More
South Dakota’s Uniform Power of Attorney Act Took Effect July 1, 2020
On July 1, 2020, South Dakota’s SB 148, adopting the Uniform Power of Attorney Act, went into effect. The bill had been signed into law... Read More
Minnesota, Oklahoma and South Carolina Adjust Consumer Finance Dollar Amounts
Minnesota, Oklahoma and South Carolina announced adjustments to the dollar amounts under certain respective consumer finance laws. In each case, the new dollar amounts become... Read More
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