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Georgia Issues Executive Order to Temporarily Suspend In-Person Notary and Witness Requirements

On March 31, 2020, the Governor of Georgia issued Executive Order No. 03.31.20.01 to temporarily suspend the in-person requirements of a notary public and a witness related to legal documents for real estate transactions. Specifically, the Order permits the use

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Winter 2019-2020 Hot Topics

CFPB Issues Policy Statements on “Abusive Acts or Practices” Standard and on Treatment of “Compliance Aids” The CFPB issued a policy statement indicating it intends to follow three principles when applying the “abusiveness” standard in supervision and enforcement matters, to

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New Georgia Rules Regarding Temporary Authority To Operate Effective January 9, 2020 (except for Disclosure Requirement)

On December 20th, the Georgia Department of Banking and Finance finalized its proposed rules on temporary authority for loan originators to operate without a license. Loretta Salzano was the sole non-DBF attendee at the hearing and was pleased to work

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IRS Posts Guidance on the Taxpayer First Act

On December 19, 2019, the Internal Revenue Service (“IRS”) posted guidance on the Taxpayer First Act, clarifying that Section 2202 applies only to disclosures made by the IRS after December 28, 2019. The Taxpayer First Act requires a lender obtain

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Georgia Issues Proposed Rule on Temporary Authority to Operate

The Georgia Department of Banking and Finance (“DBF”) has issued a proposed rule regarding “temporary authority to operate” as a loan originator (as provided in the amended SAFE Act). The proposed rule can be found at the following link: Proposed

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Transitional Authority Coming Soon!

Effective November 24, 2019, mortgage loan originator (“MLO”) transitional licensing authority will allow qualified MLOs who are changing employment from a depository institution to a state-licensed mortgage company and qualified state-licensed MLOs seeking licensure in another state to act as

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FDIC Spotlights RESPA Section Violations

In its June 2019 Consumer Compliance Supervisory Highlights the FDIC put the spotlight on RESPA Section 8 violations, and it would be prudent for anyone involved in payments for lead generation or in marketing or lease arrangements with referral sources

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Fall 2018-Winter 2019 Hot Topics – Are You Tired Keeping Up with the Onslaught of Regulatory Changes?

Then let us help you! Our firm offers a service that will do the leg work for you! We monitor federal legislative and regulatory developments plus those in all states IN REAL TIME. We’ll tell you what you need to

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Fall 2018-Winter 2019 Hot Topics – A Recent Alabama Supreme Court Decision May Impact Your Future Advance Mortgage Business

In a recent ruling, the Alabama Supreme Court held that a mechanic’s lien could have priority over a recorded future advance mortgage, even though the recording of the mortgage pre-dated commencement of the contractor’s work. In brief summary, the borrower

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Spring-Summer 2018 Hot Topics – Georgia Minimum Wage Law

Are you complying with Georgia’s minimum wage law? Georgia’s minimum wage law requires employers to pay covered employees a minimum wage of not less than $5.15 for each hour worked. There is an exception for employers and employees subject to

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