The pace of legislative activity from this year’s current session can make it hard to stay abreast of new laws. The Consumer Finance ABstract’s “Consumer Finance State Roundup” is intended to provide a brief overview of recently enacted measures of potential interest. During this current legislative session, the following three states have enacted measures of […]
Mortgage Loans
Consumer Finance State Roundup
The pace of legislative activity from this year’s current session can make it hard to stay abreast of new laws. The Consumer Finance ABStract’s “Consumer Finance State Roundup” is intended to provide a brief overview of recently enacted measures of potential interest. For this first installation, we are including additional measures enacted during the current […]
States Continue Trend Supporting Remote Work for MLOs and Mortgage Company Employees
A&B ABstract: Effective July 1, Montana will become the latest jurisdiction to codify authorization for mortgage loan originators and mortgage company employees to engage in remote work. That legislation follows a general trend over the past year – and, more so, since the early days of the COVID-19 pandemic – to allow remote operations. No […]
CFPB Issues Advisory Opinion Warning Against Kickbacks for Mortgage Rate Shopping Platforms
A&B ABstract: Last week, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion to address the applicability of the Real Estate Settlement Procedures Act (RESPA)’s Section 8 – the anti-kickback provision – to operators of certain digital technology platforms that enable consumers to comparison shop for mortgages and other real estate settlement services. These […]
Moving to Address Appraisal Bias, Agencies and the Appraisal Foundation Issue Updates
A&B ABstract: A year and a half after President Biden’s announcement of the Interagency Task Force on Property Appraisal and Valuation Equity (“PAVE”), the past weeks have seen a flurry of activity from federal agencies and the Appraisal Foundation to address issues of bias in residential property appraisal. What should lenders, servicers, and appraisers know? […]