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GA SB 470 Signed By Governor!

On May 2, 2022, the Governor signed Georgia Senate Bill 470, which makes important changes to the Georgia Residential Mortgage Act to align more closely with other states’ licensing laws. In essence, Georgia modified its felony employment prohibition applicable to

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EXCITING CHANGE TO GEORGIA RESIDENTIAL MORTGAGE ACT FELONY PROHIBITION!

We are delighted to report important changes to the Georgia Residential Mortgage Act to more closely align with other states’ licensing laws. In essence, Georgia has modified its felony employment prohibition applicable to Georgia Residential Mortgage Act licensees so that

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Summer 2021 Hot Topics

CFPB Finds Georgia Waiver of Borrower’s Rights to Violate UDAAP Provisions In its Summer 2021 Supervisory Highlights, the CFPB addressed the Georgia Waiver of Borrower’s Rights form, which addresses borrower rights in a non-judicial foreclosure. It is a customary practice

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Winter 2020-2021 Hot Topics

Loretta Salzano was recently featured in RESPA News warning lenders about the FDIC’s amped up attention to marketing service agreements (“MSAs”) and co-marketing with real estate professionals. Even those not supervised by the FDIC should be on guard in response

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Summer-Fall 2020 Hot Topics

The Bureau Rescinds RESPA Bulletin 2015-05 – Issues FAQs Loretta Salzano weighed in on the FAQs to RESPA News as follows: Kudos to the CFPB for rescinding the 2015 Bulletin and replacing it with more practical guidance! Much of the

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Summer-Fall 2020 Hot Topics

Georgia House Bill 781 Georgia passed House Bill 781, effective January 1, 2021. The Bill makes several amendments to the Georgia Residential Mortgage Act. Highlights of the Bill include: – Removal of the requirement that mortgage brokers and mortgage lenders

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Summer-Fall 2020 Hot Topics

CFPB Announces the Establishment of a New Pilot Advisory Opinion Program The Consumer Financial Protection Bureau (“Bureau”) announced the establishment of a new Pilot Advisory Opinion (AO) Program. The primary purpose of the Pilot AO Program is to provide a

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Temporary State Guidance Coronavirus

In the wake of the spread of the Coronavirus, state regulators are working with licensees to permit mortgage loan originators to work from home where it may otherwise be restricted. Depending on the state, licensees may be required to provide

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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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