News & Analysis as of

New Legislation Mortgage Servicers State and Local Government

Mayer Brown

Connecticut Repeals Mortgage Servicer Licensing Exemption for Licensed Mortgage Lenders

Mayer Brown on

A new approval requirement is coming for companies licensed as Mortgage Lenders in Connecticut and engaging in mortgage servicing activities. Effective October 1, 2025, Connecticut Mortgage Lender licensees will have to hold...more

Hinshaw & Culbertson - Consumer Financial...

New York Governor Hochul Signs Anti-Deed Theft Bill into Law: What Mortgage Lenders and Servicers Need to Know

New York Governor Kathy Hochul recently signed off on anti-deed theft legislation, as outlined in Senate bill 2023-S.6577 with companion Assembly bill 2023-A.6656.[1] The Governor signed the new legislation on November 14,...more

Ballard Spahr LLP

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

Ballard Spahr LLP on

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

McGlinchey Stafford

NYDFS FAQs Confirm Scope of COVID Mortgage Forbearance Law

McGlinchey Stafford on

Governor Andrew Cuomo signed S8428/A10530 and S8243-C/A10351-B into law on June 17, 2020. Collectively, in relevant part, the legislation creates N.Y. Banking Law § 9-x, which relates to residential forbearances as a result...more

Ballard Spahr LLP

Michigan Adopts Temporary Authority Provisions

Ballard Spahr LLP on

Michigan has joined a number of states that have amended its statutes to grant certain individuals temporary authority to act as a mortgage loan originator while a license application is pending, in conformity with the...more

Ballard Spahr LLP

Wisconsin Adopts Temporary Authority Provisions

Ballard Spahr LLP on

Wisconsin is the latest state to pass legislation amending its statutes to add provisions addressing temporary authority to operate as a mortgage loan originator while a license application is pending pursuant to the federal...more

Ballard Spahr LLP

Washington State Adopts Temporary Authority Provisions

Ballard Spahr LLP on

Washington State has enacted legislation amending its regulations to permit temporary authority to operate as a mortgage loan originator...more

Ballard Spahr LLP

Alaska Expands Mortgage Licensing Exemptions

Ballard Spahr LLP on

As a result of a new Alaska law, HB 104, the following are exempted from mortgage loan originator requirements in the state: Employees of federal, state, or local government agencies...more

Troutman Pepper Locke

Connecticut Places Additional Requirements on Judgement Lienholders

Troutman Pepper Locke on

Connecticut Governor Dannel Malloy recently signed a new bill into law that helps Connecticut consumers understand how much they would need to pay in order to satisfy a judgement lien....more

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