West Virginia has now enacted the Revised Uniform Fiduciary Access to Digital Assets Act, effective June 5, 2018 (the “West Virginia Act”).  The Wisconsin legislature recently amended its laws governing payoff statements and transfers by affidavit, effective April 18, 2018. West Virginia Senate Bill 102 The Uniform Fiduciary Access to Digital Assets Act (the “Act”) […]

The Oregon Department of Consumer and Business Services (“Department”) recently amended its rules related to mortgage lending and mortgage servicing, effective April 17, 2018. “Contract or agreement for servicing the residential mortgage loan” means an agreement for the ongoing servicing of a loan and does not include one-time transfers of funds such as those associated […]

The West Virginia legislature recently amended its application fee and education provisions of the Safe Mortgage Licensing Act (“Act”), effective May 18, 2018.  The Wisconsin legislature recently amended its laws governing confidentiality of financial information, effective April 18, 2018. West Virginia House Bill 4285 Applicants for a license must apply in a form as prescribed […]

The Alabama legislature recently enacted the Data Breach Notification Act (“Act”), effective June 1, 2018. A “Breach of Security” or “Breach” is the unauthorized acquisition of data in electronic form containing sensitive personally identifying information.  Acquisition occurring over a period of time committed by the same entity constitutes one breach. The term does not include […]

Maine has now enacted the Revised Uniform Fiduciary Access to Digital Assets Act, effective April 4, 2018 (the “Maine Act”).  The Oregon legislature has enacted legislation setting fees for licensing mortgage servicers, effective April 3, 2018. The Utah Residential Mortgages Practices and Licensing Act (the “Utah Act”) was recently amended, effective May 8, 2018. Maine […]

The Vermont Department of Financial Regulation recently issued revised regulations regarding annual privacy notices, effective March 15, 2018. A financial institution is not required to deliver an annual privacy notice if: If a financial institution has been excepted from delivering an annual privacy notice and changes its policies or practices in such a way that […]

In this blog, Bob Birmingham and Dr. Anurag Agarwal discuss the risks and rewards of using artificial intelligence in lending.

Determining the location of marketing campaigns is essential. Uncover best practices to avoid the risk for redlining activity and to stay compliant.

Utah Legislative Update Leading document preparation solution provider MRG recently published an update concerning lending legislation in the state of Utah. Utah House Bill 196 extends the date that a citation may be issued following a violation from 6 months to 1 year after the occurrence of a violation. The bill also modifies the definition […]

It can be difficult to even know for certain that redlining is occurring at your own financial institution. Uncover the fundamentals to take into account that will help avoid the risk of redlining.

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Nevada The Foreclosure Mediation Program expires on June 30, 2017, and all mediations should have been completed by April 30, 2017. Utah Utah House Bill 13 recently passed, defining digital assets and parties involved for electronic loan compliance. Some measures include: Minnesota Minnesota penned a supervisory guidance letter to residential mortgage originators that identified five […]