News & Analysis as of

New Legislation Regulatory Requirements Borrowers

Sheppard Mullin Richter & Hampton LLP

California Enacts New Mortgage Servicing and Foreclosure Standards

On June 30, California Governor Newsom has signed AB 130, a budget trailer bill related to housing. This legislation includes new requirements for mortgage servicers of subordinate mortgages, defined in the bill, and took...more

Goodwin

Connecticut Enacts Law Regulating Earned Wage Access Services

Goodwin on

Connecticut has enacted a law (the amendment) amending the state’s existing small loan act (the act). In this alert, we focus on the amendment’s application of the act to “earned but unpaid wage or salary income advances”...more

Alston & Bird

California Quickly Enacts New Mortgage Servicing Standards That Can Affect Foreclosures

Alston & Bird on

What Happened? On June 30, 2025, California Governor Gavin Newsom signed into law, with an immediate effective date, California Assembly Bill 130, a significant housing bill that, notably renders certain mortgage servicer...more

Sheppard Mullin Richter & Hampton LLP

Texas Passes Legislation to Regulate Sales-Based Financing

On June 20, Texas Governor Greg Abbot signed into law HB 700, adding Chapter 398 to the Texas Finance Code. Effective September 1, the statute establishes a regulatory framework for commercial sales-based financing and...more

Bradley Arant Boult Cummings LLP

New California Law Threatens to Stall All Second Lien Foreclosures

On June 30, 2025, California Gov. Gavin Newsom signed a large “budget trailer” bill that will have significant consequences on the mortgage industry. In relevant part, the new law addresses foreclosures on so-called zombie...more

Troutman Pepper Locke

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

Troutman Pepper Locke on

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

Sheppard Mullin Richter & Hampton LLP

California Passes Law Extending new Protections to Mortgage Borrowers

On September 20, Governor Newsom signed AB 2424, which establishes a significant set of new foreclosure notification and sale requirements for mortgage lenders. The law is effective as of January 1, 2025....more

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