The Massachusetts Division of Banks published a final regulation this week that prohibits creditors from requiring residential property owners to buy flood insurance in an amount that exceeds … more MA Regulator Finalizes Flood Insurance Guidelines
Illinois Governor Bruce Rauner (R ) signed legislation into law that would implement a 3-day “cooling-off” period, impose restrictions on the cross-selling of insurance products, create new borrower … more Illinois RM Bill implements Cooling Off Period and Educational Documents
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The Utah state legislature recently passed the Utah Reverse Mortgage Act, which was signed into law on March 27 by Governor Gary Herbert. The bill, S.B. 120, includes … more Utah Enacts Reverse Mortgage Legislation
The Massachusetts legislature this week failed to restore a two-year delay for mandatory face-to-face counseling.
The Georgia Department of Banking and Finance barred lenders from ever again applying for mortgage banker or mortgage broker licenses. Find out why.
California Gov. Jerry Brown signed a new consumer protection bill that imposes a 7-day “cooling off” period between the time a borrower is counseled and the application begins.
Massachusetts’ Division of Banks confirmed with NRMLA’s outside legal counsel that those seniors who received counseling on or before July 31, do not have to be re-counseled in-person.