Connecticut
Pursuant to the authority found in Section 205 of Senate Bill 1202, the Commissioner of Connecticut Department of Banking signed an Order that allows individuals engaged in licensable activity to conduct the activity from a remote office location. The Order is effective as of July 1, 2021 and remains in effect until modified, superseded, vacated.
Maine
Maine enacted Senate Bill 334 (LD 1066), which amends the definition of “mortgage servicer” with respect to a mortgage servicer’s duty of good faith, and replaces it with the current definition of “servicer.” The Bill is effective October 18, 2021.
Montana
Montana adopted amendments to the regulations that implement the Montana Mortgage Act. These amendments update the forms available on the Department’s website and their use. The amendments went into effect June 12, 2021.
North Dakota
North Dakota recently passed Senate Bill 2103, which amends laws related to money brokers. Specifically, the updates create late fees and impose a maximum finance charge. The Bill was effective August 1, 2021.
Oregon
The governor of Oregon signed into law House Bill 2009. The bill establishes temporary limitations on a lender’s remedies against a borrower for defaulting on a mortgage due to the COVID-19 pandemic. The Bill was effective upon signature, on June 1, 2021.
Vermont
Vermont passed Senate Bill 88, which amends provisions related to licensed lenders, mortgage brokers, and loans servicers. These provisions of Senate Bill 88 were effectively immediately.