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The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Ballard Spahr LLP

Trigger Leads – Don’t Forget about the States

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As Rich Andreano blogged on April 15, 2025, legislation to prohibit or restrict so-called “trigger leads” in the home-buying process has been reintroduced in the House and Senate. The legislation has broad industry and...more

Orrick, Herrington & Sutcliffe LLP

Tennessee enacts new home loan rate

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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

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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

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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

Orrick, Herrington & Sutcliffe LLP

Utah enacts residential mortgage loan amendments

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On March 25, Utah enacted HB 99 (the “Act”), titled “Residential Mortgage Loan Amendments,” which modifies the Utah Residential Mortgage Practices and Licensing Act. The Act grants the Division of Real Estate with the...more

Mayer Brown

Maryland Update on Licensing Guidance

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AT A GLANCE - In response to market concerns regarding licensing guidance for assignees of certain residential mortgage loans and installment loans released by the Maryland Office of Financial Regulation in January, that...more

Orrick, Herrington & Sutcliffe LLP

California Governor announces mortgage relief for homeowners impacted by wildfires

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On January 23, The Governor of California, Gavin Newsom, announced commitments from 270 state-chartered banks and one federally chartered institution, along with related support from credit unions and mortgage lenders, to...more

Orrick, Herrington & Sutcliffe LLP

Maryland Mortgage Loan Purchasers Face New License Requirement

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Financial institutions that purchase mortgage loans in Maryland, including securitization trusts and other secondary market purchasers, face a new requirement to obtain a state license. The Maryland Office of Financial...more

Sheppard Mullin Richter & Hampton LLP

Maryland Expands Licensing Requirements for Mortgage Loan Assignees

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On January 10, 2025, the Maryland Office of Financial Regulation (OFR) issued guidance significantly expanding licensing requirements for assignees of residential mortgage loans in Maryland. The guidance stems from an April...more

Mayer Brown

Maryland Guidance Applies Licensing Requirements to Assignees of Residential Mortgage Loans

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On January 10, 2025, the Maryland Office of Financial Regulation (OFR) issued formal guidance asserting that assignees of residential mortgage loans—including certain “passive trusts” that acquire or obtain assignments of...more

Sheppard Mullin Richter & Hampton LLP

Texas Passes Law Expanding Mortgage Borrower Protections

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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

Alston & Bird

Consumer Finance State Roundup

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The latest edition of the Consumer Finance State Roundup highlights recently enacted measures of potential interest from four states: Delaware:  Effective August 9, Senate Bill 245 amends mortgage foreclosure provisions of...more

Ballard Spahr LLP

Amendments to Ohio’s Administrative Rules Relating to Residential Mortgage Lending

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The Ohio Department of Commerce, Division of Financial Institutions is amending the rules that implement the state’s Residential Mortgage Lending Act. The Division is seeking preliminary feedback on the administrative rules,...more

Troutman Pepper Locke

NY State Senate Passes Foreclosure Abuse Prevention Act

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On May 3, the New York State Senate passed S5473D (Bill), which will apply immediately in all actions “in which a final judgment of foreclosure and sale has not been enforced.” (See S5473D at Section 10.) This means that the...more

Bradley Arant Boult Cummings LLP

The Twelve Days of Renewals

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On the first day of renewals the NMLS brought to me, system issues and lock outs. Yes, the 2021 Renewal season brought no holiday joy to either regulator or industry users. The first twelve days did present challenges with...more

Bradley Arant Boult Cummings LLP

April Update: COVID-19 Mortgage Servicing Trends Report

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Bradley is proud to share the following information collected from the live polls presented at its weekly COVID-19 Compliance Roundtables. The polling covers hot topics, including forbearances, deferrals, HUD loss mitigation...more

Perkins Coie

Consumer Finance Law – COVID-19 Year in Review

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The year 2020 was a tumultuous one given the unexpected COVID-19 pandemic, particularly for the mortgage lending and servicing industry. In response to sudden stay-at-home orders and a sharp drop in employment rates, federal...more

Miles & Stockbridge P.C.

Will You Need a License to Hold MSRs in Maryland?

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The question of whether a state mortgage finance licensing obligation arises to acquire and hold mortgage loans or mortgage loan servicing rights has often generated confusion and raised questions among mortgage finance...more

Sheppard Mullin Richter & Hampton LLP

It’s Time to (Carefully) Secure that Guaranty

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The 2021 increase to California’s homestead exemption to up to $600,000 stands to change the legal and economic relationship of guarantors with their lenders and vendors who make loans or sell goods or services on...more

McGlinchey Stafford

Am I a party entitled to enforce a promissory note?

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Shareholder Derivative Lawsuit Aungst v. Light, 9th Dist. Summit No. 29349, 2020-Ohio-3347 In this appeal, the Ninth Appellate District affirmed the trial court’s decision, finding that when a shareholder’s derivative...more

Ballard Spahr LLP

Alaska Exempts Nonprofit Organizations From Mortgage Lender Licensing Requirements

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The Alaska Department of Commerce, Community, and Economic Development recently adopted amendments to its mortgage lending regulations to exempt bona fide nonprofit organizations from the licensing requirement....more

Ballard Spahr LLP

New York Issues Final Mortgage Servicing Regulations

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On December 18, 2019, the New York Department of Financial Services (DFS) issued its Final Regulations detailing the business conduct rules for mortgage loan servicers. ...more

Ballard Spahr LLP

New Jersey Mortgage Servicer License Applies to Holders of Mortgage Servicing Rights

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The New Jersey Department of Banking and Insurance recently issued a bulletin to provide guidance relating to the licensing and registration of mortgage servicers under the New Jersey Mortgage Servicers Licensing Act. The...more

Ballard Spahr LLP

NMLS Reinstatement Period Now Open Through February 29

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The NMLS Reinstatement Period began on January 2, 2020, and will end on February 29, 2020. This period allows individuals and companies that failed to renew their licenses by December 31 to request renewal. ...more

Ballard Spahr LLP

Georgia and Colorado Address MLO Temporary Authority to Operate

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Following receipt and consideration of three written comments on proposed rules distributed on November 18, 2019, the Georgia Department of Banking and Finance adopted final rules on December 20, 2019, that establish...more

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