News & Analysis as of

Lenders State and Local Government Mortgage Lenders

Orrick, Herrington & Sutcliffe LLP

Tennessee enacts new home loan rate

On April 28, the governor of Tennessee signed into law HB 908 to amend the maximum effective interest rate for home loans originated in the state. The new law sets the rate at four percentage points above the average prime...more

Sheppard Mullin Richter & Hampton LLP

Maryland Enacts Law Exempting Passive Trusts from Mortgage and Installment Loan Licensing Requirements

In January 2025, the Maryland Office of Financial Regulation (the “OFR”) issued a guidance stating that assignees of residential mortgage loans, including certain passive trusts, were required to hold a Maryland mortgage...more

Alston & Bird

Consumer Finance State Roundup

Alston & Bird on

The latest edition of the Consumer Finance State Roundup highlights recently enacted measures of potential interest from three states: Arkansas: House Bill 1184, which we expect to take effect on or about August 8, amends...more

Sheppard Mullin Richter & Hampton LLP

Texas Passes Law Expanding Mortgage Borrower Protections

Effective November 23, 2024, the Texas Department of Savings and Mortgage Lending (the “DSML”) adopted new rules affecting mortgage loan companies, mortgage bankers, individual residential mortgage loan originators, and...more

McGlinchey Stafford

State COVID-related Foreclosure and Eviction Moratorium Updates

McGlinchey Stafford on

Alert October 23, 2020 Due to the economic impacts of COVID-19, many states have issued moratoriums on foreclosures and evictions. Some of those moratoriums have expired. However, even if a lender is now able to obtain a...more

McGlinchey Stafford

Pandemic speeds remote online notarization

McGlinchey Stafford on

Given the increase in virtual working environments due to COVID-19, many lenders are exploring electronic notarization, remote online notarization (RON), and even electronic signatures. While the pandemic may have spurred...more

McGlinchey Stafford

Florida and Texas Extend Borrower Protections Through September

McGlinchey Stafford on

Florida’s Governor Desantis has extended Executive Order Number 20-180 to 12:01 a.m. on October 1, 2020. The Executive Order, titled “Limited Extension of Mortgage Foreclosure and Eviction Relief” provides, in relevant part: ...more

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