State News

This topic consolidates legislative summaries of new and revised state laws pertaining to licensing, originating, and servicing mortgage loans. 

February 22, 2019

New Hampshire One Step Closer to Judicial Foreclosure Law

DSNews--Stephanie Bacot

The process of foreclosure varies from state to state, but in general, there are two different procedures in place, judicial foreclosure or nonjudicial foreclosure, both resulting in a foreclosure sale. New Hampshire is one of the few states that still allow non-judicial foreclosures but that could change soon if HB 270 bill is passed into law.

The...

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February 20, 2019

California pushes people to splash out on zero-energy homes

Mortgage Professional Magazine--Candyd Mendoza

In the wake of unprecedented wildfires, California has called for homes and multi-family residential buildings to include solar panels starting in 2020. De Young Properties, an environmentally friendly homebuilding company, has continued to build zero-energy homes in accordance with California’s renewable energy mandate in an effort to be more environmentally conscious.

The company has constructed more than...

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February 15, 2019

D.C. act provides eviction and foreclosure relief to federal employees and contractors impacted by shutdown

Buckley Sandler, LLP--InfoBytes Blog

On February 6, the Mayor of the District of Columbia signed Act 23-5 (B23-0080) to protect federal workers, contractors, and employees of the District of Columbia Courts from eviction and foreclosure during federal government shutdowns. Among other things, the D.C. Superior Court will have the ability to grant motions to stay foreclosure and eviction proceedings for eligible...

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Webinar: Agency and Regulatory Reporting Essentials

February 13, 2019

Erie County land bank takes inventory of blighted buildings

National Mortgage News--Matthew Rink, Erie Times-News, Pa.

A year after forming, the Erie County, Pa., land bank is compiling a list of blighted, tax-delinquent properties outside the city that need to be demolished or rehabilitated.

Thirty-five properties now make up that preliminary list. But much work remains, from determining the cost to tear down or renovate the dilapidated structures to prioritizing properties...

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February 12, 2019

Making the Foreclosure Process More Efficient

DSNews--Radhika Ojha

New Jersey's Senate Community and Urban Affairs Committee has passed bipartisan legislation consisting of a package of nine bills that are aimed at streamlining pending foreclosure cases in the state.

Based on a May 2017 report by Chief Justice Stuart Rabner and Special Committee on Residential Foreclosures this legislation is likely to make the foreclosure process...

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February 11, 2019

Developments at the PA Attorney General’s Bureau of Consumer Protection

Ballard Sparh, LLP--Barbara S. Mishkin

With the creation of a Consumer Financial Protection Unit as one of his early actions, Pennsylvania  Attorney General Josh Shapiro made clear his intention to pursue an aggressive pro-consumer agenda.  Mr. Shapiro named Nicholas Smyth, a former CFPB enforcement attorney, to serve as Assistant Director of the Attorney General’s Bureau of Consumer Protection.

In what...

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February 10, 2019

Nevada Enacts Temporary Electronic Notary Rule

Compliance Monitor--Elizabeth Dailey

The Nevada Secretary of State has adopted a temporary rule concerning electronic notarizations. These provisions are effective immediately.

Definitions

The first section of the adopted rule sets forth pertinent definitions such as “electronic notarial certificate,” “electronic notarization solution,” “identity proofing,” and “solution provider.”

Electronic Notary Requirements

Subsequent sections set forth the requirements for registration...

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ACES Intelligent Questionnaires

February 02, 2019

New Jersey Issues Bulletin Regarding 2019 High-Cost Home Loan Dollar Adjustment

The New Jersey Department of Banking and Insurance issued a bulletin addressing its annual review regarding the definition of a "high-cost home loan" under the Home Ownership Security Act of 2002.

The amount of $498,610 shall be effective for all completed applications on loans that may be subject to the Act received by the lender on or after January 1, 2019.

...
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January 29, 2019

New York using $9 million from RBS settlement to fight zombie homes

HousingWire--Ben Lane

Continuing a fight that stretches all the way back to 2014, the state of New York is set to give its cities millions more in funding to address the glut of “zombie homes” that still blight many communities throughout the state.

Back in 2016, the state of New York enacted “sweeping” new laws aimed at addressing the...

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January 29, 2019

Delaware enacts law providing financial relief to federal employees impacted by shutdowns

Ballard Sparh, LLP--Glen P. Trudel

On January 23, Delaware Governor John Carney signed the “Delaware Federal Employees Civil Relief Act” into law.  The Act states that its purpose “is to provide for the temporary suspension of judicial and administrative proceedings in Delaware that may adversely affect the civil rights of Federal workers during a shutdown.”  The Act provides for enforcement...

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January 28, 2019

California sues one of its own cities for not building enough affordable housing

HousingWire--Ben Lane

In an unprecedented move, the state of California is suing one of its own cities for not building enough affordable housing.

Late last week, California Gov. Gavin Newsom announced that the state is suing the city of Huntington Beach for “standing in the way of affordable housing production and refusing to meet regional housing needs,” actions that “harm...

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