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Texas Amends Payoff Statement Requirements
On May 5, Texas enacted H.B. No. 558 ("the Act") amending the Texas Finance Code and requiring the Finance Commission of Texas ("Finance Commission") to adopt rules "governing requests by title insurance companies for payoff information from mortgage servicers related to home loans and the...
InfoBytesHawaii Amends State Code Concerning Mortgage Foreclosure Process
On May 5, Hawaii Governor Neil Abercrombie signed into law several amendments to the state’s mortgage foreclosure statutes. The changes were encompassed within Senate Bill (S.B.) No. 651 , "Relating to Mortgage Foreclosures". The bill places numerous procedural requirements in the way of...
InfoBytesMontana Adopts Revisions to the Montana Broker, Mortgage Lender, and Mortgage Loan Originator Licensing Act
On May 5, Montana adopted House Bill No. 90 , which made numerous revisions to the Montana Mortgage Broker, Mortgage Lender, and Mortgage Loan Originator Licensing Act (Act) and changed its title to the Montana Mortgage Act. The revisions include provisions for the licensing and regulation of...
InfoBytesNorth Carolina Court of Appeals Denies Foreclosure Action Due to Improper Endorsement on Borrower’s Note
The North Carolina Court of Appeals recently denied a lender’s right to foreclose on a borrower’s property, holding that the lender had not established by competent evidence that it was the owner and holder of the borrower’s note and deed of trust. In re Foreclosure by David A. Simpson , No. COA10-...
InfoBytesTennessee Amends Consumer Protection Provision of the Uniform Debt-Management Services Act
The state of Tennessee recently amended the Uniform Debt-Management Services Act regarding registration applicants for entities providing debt-management services in the state. The new provision requires applications for registration to include (at their own expense) the results of fingerprint-...
InfoBytesUtah Revises Regulations Concerning Qualifications for Principal Lending Manager Licensing and Registration Procedures
Effective May 10, 2011, the Utah Division of Real Estate revised its rules (see here and here ) to prohibit a principal lending manager from simultaneously serving as a branch lending manager, and to prohibit an individual from serving as the branch lending manager for more than one branch at any...
InfoBytesMaryland Appeals Court Rules Printed MySpace Page Not Properly Authenticated & Provides Guidelines
On April 28, Maryland’s highest court overturned a lower court that had ruled the MySpace profile page of a convicted murderer’s girlfriend was properly authenticated evidence. The girlfriend’s profile page, used by the prosecution at trial, contained threatening statements allegedly made by the...
InfoBytesCalifornia Federal Court Dismisses Lawsuit After Finding Adequate Disclosures Regarding Online Discount Program
On April 11, the U.S. District Court for the Southern District of California dismissed claims against an online discount program and online movie ticketing website that the defendants deceptively enrolled the plaintiff into a costly program. Berry v. Webloyalty.com, Inc., et al. , No. 10-1358, 2011...
InfoBytesCalifornia Bankruptcy Court Denies Bank’s Request for Relief from Automatic Stay Because of Failure to Record Assignment of Deed of Trust Prior to Foreclosure
On April 11, the United States Bankruptcy Court for the Southern District of California held that a national bank was not entitled to relief from an automatic bankruptcy stay in order to proceed with a foreclosure-related action because the bank did not record its assignment of the deed of trust...
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