Last year, now-former Gov. Jerry Brown (D) signed into law “The California Consumer Privacy Act of 2018” (“CCPA”), which is scheduled to take effect on January 1, 2020. On October 11, 2019 the California Secretary of State’s office assigned Legislative Chapter numbers to the following five amendments to the CCPA,…
Last year, FNMA announced revisions to their Form 1008 (Uniform Underwriting and Transmittal Summary), with a mandatory effective date of July 1, 2019. Earlier this year, FNMA announced that they had postponed this mandatory effected date to February 1,…
While Federal Regulation Z permits, but does not require, signature lines to appear on the Loan Estimate and Closing Disclosure forms (see 12 CFR §§ 1026.37[n] & 1026.38[s]), some State administrative laws do require signatures on one or both of these documents,…
According to Texas Finance Code § 343.104, “[a] lender may not offer any individual or group credit life, disability, or unemployment insurance on a prepaid single premium basis in conjunction with a home loan unless the following notice is provided…”…
This past August, the USDA Office of Rural Development (“RD”) announced that they would be publishing a new version of form RD 3555-21 in October. Yesterday afternoon, RD published the appropriate new version of the form on their website….
Florida Statute 494.0069(1)(c) requires that each lock-in agreement must “contain the discount point locked in, if any”. Since the statute does not specify whether discount points are to be paid by the borrower or seller specifically, we are taking a more conservative approach and modifying our Generic Florida Interest Rate Lock Agreement (Cx13498) to disclose both borrower-paid and seller-paid discount points (if they exist)….
Cx1906 is provided pursuant to the following provisions of Iowa Code Ann. § 535.8(5):
“A lender who offers to make a loan with only those fees authorized by subsection 4 may also offer in exchange for the payment of an interest reduction fee to make a loan on all of the same terms except at a lower interest rate and with the lower payments resulting from the lower interest rate….
Earlier this year, Congress passed the Taxpayer First Act (133 Stat. 981 [2019]; see https://www.congress.gov/bill/116th-congress/house-bill/3151/text?q=%7B%22search%22%3A%5B%22taxpayer+first+act%22%5D%7D&r=1&s=8#toc-H41D3744607B44119A2D000B89E5119D2), Section 2202 of which amends 26 U.S.C.A. § 6103(c) to require, within the context of a taxpayer requesting a copy of the taxpayer’s tax returns,…
As previously announced, the Maryland Department of Labor, Licensing, and Regulation has amended their regulations which, inter alia, has caused some sections of the law to be re-codified into other sections. As a result,…
As previously announced, FMNA has create a new “may” change to Form 3200, permitting language to be added to this promissory note which specifies that the amount of any late charge cannot exceed $100. FHLMC has authorized a similar “may” change to all of their promissory notes (see “Authorized Changes to Notes”,…
