Virginia Amends Provisions Relating to Foreclosure under Landlord and Tenant Law
The state of Virginia recently enacted House Bill 857, pertaining to Landlord and Tenant Law. Some of the provisions are included in order to conform... Read More
State Regulatory Developments
Alabama Limits Foreclosure Redemption Period for Homestead Property
Alabama recently amended its real estate redemption law to limit the time period within which a borrower can redeem homestead property following foreclosure. The amendments... Read More
Texas Finance and Credit Union Commissions Adopt Interpretation Amendments to Implement Changes to Home Equity Loan Provisions
The Finance Commission of Texas and the Texas Credit Union Commission recently adopted amended regulations to implement changes to the home equity loan provisions of... Read More
Virginia Amends Provisions Relating to Foreclosure, Notices of Sale for Deceased Owners, and Disposition of Sale Surplus
The state of Virginia recently enacted House Bill 755 that amends provisions of Virginia statutes relating to foreclosure, notices of sale when an owner is... Read More
New York DFS Issues New FAQs Regarding Cybersecurity Regulations
The New York Department of Financial Services (DFS) has issued four additional Frequently Asked Questions (FAQs) concerning its cybersecurity regulations that went into effect last... Read More
PA Treasurer Opens Inquiry into Lending Disparities at Financial Institutions
Pennsylvania Treasurer, Joe Torsella, recently announced that his office has opened an official inquiry into three financial institutions regarding alleged racial and ethnic disparities in... Read More
PA Releases Mortgage Servicing Regulations with Servicer License Applications Due by June 30, 2018
On February 6, 2018, the Pennsylvania Department of Banking and Securities issued regulations, effectively incorporating many of the CFPB’s mortgage servicing regulations (including, in particular,... Read More
Maine Extends Reach of Its Fair Debt Collection Practices Act
On February 6, 2018, the state of Maine updated its Fair Debt Collection Practices Act to expand the range of debt collection activities that are... Read More
Michigan Amends Provisions Regarding Foreclosure by Advertisement
The state of Michigan recently enacted House Bill No. 4470 that amends the provisions of Michigan statutes relating to foreclosure by advertisement, specifically MCLS §§... Read More
South Carolina Insurance Department Amends Privacy Regulations
The South Carolina Department of Insurance recently amended its Privacy of Consumer Financial and Health Information provisions (Regulation 69-58) to eliminate the annual privacy notice... Read More
Massachusetts Attorney General Fines Servicer Millions over Servicing Practices
On January 30, 2018, the office of the Massachusetts Attorney General (the “AG”) announced that the state reached a settlement with a national mortgage servicer... Read More
Pennsylvania Licenses Residential Mortgage Loan Servicers
The Pennsylvania Governor has signed into law Act 81 (the “Act”) that amends Title 7 (Banks and Banking) of the Pennsylvania Consolidated Statutes and provides... Read More
Industry News, including Federal Regulatory Developments, State Regulatory Developments and Litigation Developments, is for general information purposes only and is not in any way intended, nor shall it be construed, as legal advice, legal opinion or any other advice on any specific facts or circumstances. No person or entity (“Person”) should act or refrain from acting upon this information without seeking professional advice. No Person may rely on this information or its applicability to any specific circumstances. The information in Industry News, including Federal Regulatory Developments, State Regulatory Developments and Litigation Developments, is in no instance to be taken as an indication of completeness, applicability to a particular situation, or an indication of future developments or results.