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Morrison & Foerster LLP

New York Lawmakers Approve Ban on Rent Minimum Clauses in Mortgage Loan Transactions: Bill Not Yet Signed Into Law By Governor

How much chaos might a three-sentence bill that was quietly passed by the New York State legislature sow on the real estate lending industry? Potentially plenty. On June 13, 2025, a bill passed by the New York Assembly (A....more

Ballard Spahr LLP

Congress Passes Legislation to Help Protect Veterans from Foreclosure by Reauthorizing Partial Claims with VA Home Loans

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The U.S. Senate recently passed H.R. 1815, the VA Home Loan Program Reform Act, to reauthorize partial claims with U.S. Department of Veterans Affairs (VA) guaranteed home loans. The U.S. House of Representatives passed the...more

Troutman Pepper Locke

Georgia Amends Intangible Recording Tax Statute and Expands Loans Exempt from Tax

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On May 9, Governor Brian Kemp signed House Bill 586, revising the definition of “long-term note[s] secured by real estate” that are subject to the intangible recording tax. Under current law, long-term notes are considered...more

Morris, Manning & Martin, LLP

Assessing the Impact of Georgia House Bill 586 on Loan Intangible Taxes

For anyone operating in the commercial real estate sector in Georgia, one of the most impactful legislative developments of 2025 is the enactment of HB 586, which amends the state's intangible recording tax. Historically,...more

Burr & Forman

Georgia House Bill 586 Expands Loan Flexibility and Tax Exemptions

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On May 9, 2025, Governor Brian Kemp signed into law House Bill 586, which significantly amends Georgia’s intangible recording tax provisions. Effective July 1, 2025, the bill extends the maturity threshold for “short-term...more

Holland & Knight LLP

Modificación a las disposiciones relacionadas con el riesgo de crédito en Colombia

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El Ministerio de Hacienda y Crédito Público de Colombia expidió el pasado 28 de mayo de 2025, el Decreto 573 del 2025, por medio del cual se modificó el tratamiento otorgado a los créditos de libranza en relación con su...more

Holland & Knight LLP

Texas Governor Signs Commercial Sales-Based Financing Legislation Into Law

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Texas Gov. Greg Abbott signed House Bill (HB) 700 into law on June 20, 2025, despite significant opposition from industry with respect to one critical legislative provision. This follows the legislation's approval by the...more

Troutman Pepper Locke

Texas Enacts New Commercial Sales-Based Financing Bill Severely Restricting Automatic Debits

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On June 20, the Texas Legislature passed H.B. 700, which introduces several new regulatory requirements for providers and brokers of commercial sales-based financing operating within the state. The law applies to merchant...more

Mayer Brown

North Dakota Broadens Licensing Law to Include Alternative Financing

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North Dakota recently enacted legislation that amends the state’s main non-mortgage lender licensing law, the North Dakota Money Brokers Act (the “Act”), to define a “loan” to include any “alternative financing product” that...more

Hudson Cook, LLP

North Dakota Law Regulates "Alternative Financing" as a "Loan"

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The state legislature in North Dakota recently passed House Bill 1127. This bill made a simple amendment to a 1970s-era law called the Money Brokers Act ("MBA")....more

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

Holland & Knight LLP

CFPB Plans to Reopen Section 1071 Small Business Lending Rule

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The Consumer Financial Protection Bureau (CFPB) has revealed its intention to make changes to the small business loan data collection and reporting rule (1071 Rule) in light of continued opposition from financial institutions...more

Stinson LLP

The End of Section 1071 as We Know It: CFPB to Reopen Rulemaking

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In a recent filing in the U.S. District Court for the Southern District of Florida, the Consumer Financial Protection Bureau (CFPB) disclosed that its new leadership has directed staff to initiate a fresh rulemaking process...more

Bennett Jones LLP

Canadian Government (Finally) Provides Certainty on Criminal Interest Rates

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As we have reported in prior blogs, the Government of Canada is moving forward with plans to lower the criminal interest rate to an annual percentage rate (APR) of 35 percent (the current criminal interest rate, being an...more

Allen Matkins

California Bill Would Deem Some Lenders As Licensed

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California generally requires that persons engaged in the business of making loans be licensed.  If not licensed under some other statute (such as the banking, credit union or residential mortgage lending laws), a lender will...more

Sheppard Mullin Richter & Hampton LLP

Washington State Passes New “True Lender” Legislation

On March 25, Washington State became the latest in a growing list of jurisdictions to introduce a “true lender” law with the passing of bill SB 6025. The legislation, similar to laws in other states would characterize a...more

Sheppard Mullin Richter & Hampton LLP

Florida Introduces “True Lender” Legislation

On October 9, Florida introduced SB 146, which amends the Florida Consumer Finance Act (CFA), and joins other states that have passed laws characterizing certain nonbanks as the “true lender” of loans made through a bank...more

Troutman Pepper Locke

Nebraska Enacts Loan Licensure Requirement for Marketers, Servicers and Purchasers of Interests in Certain Bank Loans

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On June 6, Nebraska Governor Jim Pillen signed into law Legislative Bill 92, which, among many other subjects, amends the Nebraska Installment Loan Act (the NILA). Previously, a license was required for a lender seeking to...more

White & Case LLP

SOFR amendments poised to ramp up in Q1 2023

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While US dollar (USD) LIBOR has all but vanished from new-issue loans in 2022, the vast majority of the US loan market is comprised of legacy transactions that remain tied to the retiring rate. For every US institutional loan...more

Bradley Arant Boult Cummings LLP

New Mexico Governor Signs Bill to Impose 36% Rate Cap and Tough Anti-Evasion Provisions

Beginning next year, New Mexico will join a handful of other states (including, among others, California, Illinois, and Colorado) setting stringent interest rate caps on consumer loans. House Bill 132, which Gov. Michelle...more

Perkins Coie

Oregon COVID-19-Related Borrower Protections Signed Into Law

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Oregon Governor Kate Brown signed House Bill 4204 (HB 4204) into law on June 20, 2020. The new statute affects lenders of both commercial and residential loans secured by Oregon real estate. It requires lenders to defer loan...more

Foley & Lardner LLP

New European Legislation Creating Headaches (and Opportunities) for Borrowers

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New legislation gives European regulators the power to write-down, change the terms of, cancel, and convert into equity the liabilities (including loan commitments) of troubled European lenders. New credit agreements...more

Ballard Spahr LLP

Oklahoma Issues Guidance on New Mortgage Lender License

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The State of Oklahoma provided guidance regarding implementation of a recent amendment to its Secure and Fair Enforcement for Mortgage Licensing Act (Oklahoma SAFE Act)....more

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