Nevada has enacted the Uniform Mortgage Modification Act (“UMMA”) with the passage of Assembly Bill 192 (“A.B. 192”).  The UMMA establishes safe harbor provisions for several types of mortgage modifications and sets forth the effect of a mortgage modification on a mortgage. 

The UMMA specifies the types of modifications to which A.B. 192 does and does not apply. For loan modifications that do fall under the UMMA:

On June 27, 2025, the Consumer Financial Protection Bureau (“CFPB”) published a policy statement titled “Guidance on Referrals for Potential Criminal Enforcement” (“Guidance”) in the Federal Register to provide an outline of its plan to address criminally liable regulatory offenses. 

A real estate loan underwritten to ensure the income produced by the subject property will be enough to service the debt at a sufficient ratio.

The Federal Housing Administration (“FHA”) recently announced several policy revisions “cutting red tape to more effectively deliver on President Trump’s priorities to reduce the costs of homeownership.”  The FHA published five new Mortgagee Letters to update requirements for FHA insurance that eliminate disclosures, appraisal requirements and other activities the FHA now deems over burdensome.   Each of the changes were effective immedia

Both the Senate and the House of Representatives in the federal Congress have now passed a bill limiting the ability of lenders to use what has come to be called “trigger leads”. Trigger leads are often used by lenders to alert the lender to an inquiry a person has made with another lender. These leads are useful to lenders because they alert the lender that the consumer is actively seeking new mortgage credit.

Washington has passed Senate Bill 5686 (“S.B. 5686”) to expand the state’s foreclosure mediation program. The bill includes several key provisions that are intended to help homeowners facing potential foreclosure. It introduces a new process for condominium owners to receive assistance when they are at risk of foreclosure due to unpaid homeowner association (“HOA”) assessments.  S.B.

Connect with DocMagic and enjoy the view of the Pacific Ocean at the Western Secondary Market Conference!

August 11-13 | Palos Verdes, CA

Be sure to catch Leah Sommerville, Director of Sales, on the panel for Margin Killers on Tuesday, August 12th at 2:15 pm PT.

Georgia recently passed House Bill 586 ("H.B. 586) to amend definitions under Georgia Annotated Code, Title 48, Chapter 6, Article 3, relating to intangible recording tax. In Georgia, an intangible recording tax is an excise tax collected on “long-term notes secured by real estate.”  The tax is collected by the Clerk of the Superior Court at the time the security instrument is recorded.

Replaced bullet characters. (Date of Release to Production: 06/19/25)

Updated bottom margin on last page to 2.50 inches to comply with new recording requirement. Page count increased to 6 pages. (Date of Release to Production: 06/19/25)