In the wake of the spread of the Coronavirus, state regulators are working with licensees to permit mortgage loan originators to work from home where it may otherwise be restricted. Depending on the state, licensees may be required to provide…
Yearly Archives: 2020
Georgia Issues Executive Order to Temporarily Suspend In-Person Notary and Witness Requirements
On March 31, 2020, the Governor of Georgia issued Executive Order No. 03.31.20.01 to temporarily suspend the in-person requirements of a notary public and a witness related to legal documents for real estate transactions. Specifically, the Order permits the use…
Posted in Hot Topics
Winter 2019-2020 “Talking The Talk”
Loretta Salzano and Jenny Dozier will be speaking on a variety of hot topics at key conferences throughout the country. Conference attendance is a great way to stay informed on the latest happenings in the industry – and it provides…
Posted in "Talking The Talk"/Conferences, Newsletters
Winter 2019-2020 Hot Topics
CFPB Issues Policy Statements on “Abusive Acts or Practices” Standard and on Treatment of “Compliance Aids” The CFPB issued a policy statement indicating it intends to follow three principles when applying the “abusiveness” standard in supervision and enforcement matters, to…
Posted in Hot Topics, Newsletters
Winter 2019-2020 Federal Highlights
FHFA Announces GSE Conforming Loan Limits for 2020 The Federal Housing Finance Agency announced that the maximum confirming loan limit for one-unit properties acquired by Fannie Mae and Freddie Mac in 2020 will be $510,400.00, with the exception of several…
Posted in Federal Highlights, Newsletters
Winter 2019-2020 States In Brief
Alaska Alaska adopted amendments to its mortgage loan originator regulations, which, among other things, clarify that prelicensing education courses expire. The regulation was adopted on January 7, 2020 and was effective February 6, 2020. Colorado Colorado adopted Regulation Text 15592,…
Posted in Newsletters, States In Brief
New Georgia Rules Regarding Temporary Authority To Operate Effective January 9, 2020 (except for Disclosure Requirement)
On December 20th, the Georgia Department of Banking and Finance finalized its proposed rules on temporary authority for loan originators to operate without a license. Loretta Salzano was the sole non-DBF attendee at the hearing and was pleased to work…
Posted in Hot Topics
IRS Posts Guidance on the Taxpayer First Act
On December 19, 2019, the Internal Revenue Service (“IRS”) posted guidance on the Taxpayer First Act, clarifying that Section 2202 applies only to disclosures made by the IRS after December 28, 2019. The Taxpayer First Act requires a lender obtain…
Posted in Hot Topics