Skip to main content

Pending legislation in Virginia addresses Mortgage Lender and Broker Act and foreclosure

National Mortgage Professional
Apr 27, 2008

Minnesota legislature passes legislation to amend mortgage lending definitions, recordkeeping requirementsMortgagePress.comresidential mortgage loan, Residential Mortgage Originator and Servicer Licensing Act On April 23, the Minnesota legislature presented SF 3214 to the governor for his signature. This bill expands the definition of "residential mortgage loan" under the Residential Mortgage Originator and Servicer Licensing Act (the "Act"), removing the stipulation that a "residential mortgage loan" includes only loans "made primarily for personal, family, or household use." If signed by the governor, this bill will expand the Act to include commercial loans secured by one- to four-family residential real estate. The bill also expands the definition of "residential real estate" to include non-owner-occupied property, and extends certain record-retention requirements from 26 to 60 months. For a copy of the text of the bill, please visit www.revisor.leg.state.mn.us/bin/bldbill.php?bill=S3214.1.html&session=ls85. For more information, visit www.revisor.leg.state.mn.us.
Published
Apr 27, 2008
The Fed: Tapering Could Start In November

Open Market Committee also expects to raise federal funds rate a year earlier, in 2022

Regulation and Compliance
Sep 23, 2021
HUD, FHFA: Freddie Mac Can Buy Group Home-Backed Loans

Agencies issue rule clarification after a mortgage lender refused to lend to an individual renting to a group home

Regulation and Compliance
Sep 23, 2021
Fannie Mae Plans To Restart Credit Risk Transfers In 2021

Paused Since March 2020, New CRT Transactions To Begin In October

Regulation and Compliance
Sep 21, 2021
Biden Nominates McCargo To Lead Ginnie Mae

Currently Serves As Senior Advisor For Housing Finance At HUD

Regulation and Compliance
Sep 14, 2021
OCC Plans To Rescind 2020 CRA Rule

The OCC formally issued a proposal to rescind a controversial rule within the Community Reinvestment Act (CRA) that was published in June 2020.

Regulation and Compliance
Sep 10, 2021
CSBS Changes Servicer Liquidity Policy

CSBS And MBA Encourage States To Adopt Consistently

Regulation and Compliance
Sep 08, 2021