State Compliance Analysis & Commentary Enhancements Table of Contents Comparison

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Warren Hicks
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1 State Compliance Analysis & Commentary Enhancements Table of Contents Comparison I.A.: Fees, Net Worth and Bond Requirements I.A.1.: Fees I.A.2.: Net Worth I.A.3.: Bonds I.B.: Licensee's Supervisor I.C.: Exemptions I.D.: Denial, Suspension or Revocation of License I.D.1.: Denial I.D.2.: Suspension or Revocation I.E.: Renewals I.F.: Continuing Education Requirements I.G.: Office Requirements I.H.: Examinations I.I.: Notification/Change in Control Requirements II.: Requirements for Doing Incidental/Occasional Business III.: Prohibited Acts and Practices IV.: Advertising Limitations V.: Wet Settlement Requirements VI.: Insurance Requirements VI.A.: Private Mortgage Insurance VI.B.: Hazard Insurance VI.C.: Health, Credit Life and Other Insurance VII.: Borrower Repayment Ability VIII.: Refinancing Restrictions IX.: Federal Preemption X.: Real Estate Closing Practices X.A.: Escrow Requirements X.B.: Calculation of Interest X.C.: Marital Rights and Required Signatures X.D.: Homestead Exemption X.E.: Cosigners X.F.: Powers of Attorney X.G.: Security Instruments X.H.: Notary Requirements X.I.: Document Preparation XI.: Usury and Fee Limitation XI.A.: General Issues I.A.: Mortgage Banker/Lender I.A.1.:Supervising Entity I.A.2.: Exemptions I.A.3.: Incidental/Occasional Business I.A.4.: Fees (Initial, Renewal or Exemptions) I.A.5.: Net Worth I.A.6.: Bonds I.A.7.: Education (Initial & Continuing) I.A.8.: Office Requirements I.A.9.: Recordkeeping and Record Retention I.A.10.: Examinations I.A.11.: Reporting I.A.12.: Notifications I.A.13.: Renewal I.A.14.: Change of Control Requirements I.A.15.: Denial, Suspension or Revocation I.A.16.: Prohibited Acts and Practices I.B.: Mortgage Broker I.B.1.: Supervising Entity I.B.2.: Exemptions I.B.3.: Incidental/Occasional Business I.B.4.: Fees (Initial, Renewal or Exemptions) I.B.5.: Net Worth I.B.6.: Bonds I.B.7.: Education (Initial & Continuing) I.B.8.: Office Requirements I.B.9.: Recordkeeping and Record Retention I.B.10.: Examinations I.B.11.: Reporting I.B.12.: Notifications I.B.13.: Renewal I.B.14.: Change of Control Requirements I.B.15.: Denial, Suspension or Revocation I.B.16.: Prohibited Acts and Practices I.C.: Mortgage Loan Originator I.C.1.: Supervising Entity I.C.2.: Exemptions I.C.3.: Incidental/Occasional Business 2011, AllRegs pg. 1

: Examinations I.I.: Notification/Change in Control Requirements II.: Requirements for Doing Incidental/Occasional Business III.: Prohibited Acts and Practices IV.: Advertising Limitations V.

2 XI.B.: Interest Rate and APR XI.C.: Loan Amount XI.D.: Loan Term XI.E.: Points XI.F.: Permissible Third Party Fees XI.G.: Late Fees XI.H.: Prepayment Penalties XI.I.: Lender-Paid Mortgage Broker Compensation XI.J.: Assumption Fees XI.K.: Attorney's Fees XII.: Disclosure Requirements XII.A.: Plain Language Requirements XII.B.: Application and Preclosing Disclosures XII.B.1.: General Disclosure Requirements XII.B.2.: Loan Commitment Disclosure Requirements and Timing XII.B.3.: Lock-In Agreements XII.B.4.: Adverse Action Notices XII.C.: Closing XII.D.: Servicing XII.E.: Providing Copies of Appraisals and Other Documents XII.F.: Anti-Predatory Lending Disclosures XIII.: Recordkeeping and Record Retention Requirements XIV.: Servicing Requirements XIV.A.: Escrow Requirements XIV.B.: Borrower Account Statements XIV.C.: Release of Lien XIV.D.: Servicing Assigned Loans XIV.E.: NSF Fees XIV.F.: Disclosures XIV.G.: Debt Collection Practices XV.: Alternative Mortgage Transactions XV.A.: Balloon Loans XV.B.: Adjustable-Rate Mortgages or Adjustable Payment Mortgages XV.C.: Reverse Mortgages XV.D.: Nontraditional Mortgage Products XVI: Privacy Laws and Security Breaches XVI.A.: Privacy Laws XVI.B.: Security Breaches XVII: Anti-Predatory Lending Laws XVII.A.: All Loans XVII.B.: High-Cost/Covered Loans I.C.4.: Fees (Initial & Renewal) I.C.5.: Net Worth I.C.6.: Bonds I.C.7.: Education (Initial & Continuing) I.C.8.: Office/Branch Association Requirements I.C.9.: Recordkeeping and Record Retention I.C.10.: Examinations I.C.11.: Reporting I.C.12.: Notifications I.C.13.: Renewal I.C.14.: Denial, Suspension or Revocation I.C.15.: Prohibited Acts and Practices I.D.: Mortgage Loan Servicer I.D.1.: Supervising Entity I.D.2.: Exemptions I.D.3.: Fees (Initial & Renewal) I.D.4.: Net Worth I.D.5.: Bonds I.D.6.: Education (Initial & Continuing) I.D.7.: Office Requirements I.D.8.: Recordkeeping and Record Retention I.D.9.: Examinations I.D.10.: Reporting I.D.11.: Notifications I.D.12.: Renewal I.D.13.: Change of Control Requirements I.D.14.: Denial, Suspension or Revocation I.D.15: Prohibited Acts and Practices I.E.: Reverse Mortgages I.F.: Escrow Company I.G.: Debt Collection II.: Federal Preemption III.: Advertising Requirements/Limitations IV.: Privacy Laws and Security Breaches IV.A.: Privacy Laws IV.B.: Security Breaches V.: Usury & Terms Limitations V.A.: Interest Rate and APR V.B.: Loan Amount V.C.: Loan Term VI.: Origination Fees/Charges 2011, AllRegs pg. 2

: General Disclosure Requirements XII.B.2.: Loan Commitment Disclosure Requirements and Timing XII.B.3.: Lock-In Agreements XII.B.4.: Adverse Action Notices XII.C.: Closing XII.D.: Servicing XII.E.

3 XVII.C.: Subprime Loans XVIII: Foreclosure XVIII.A.: General Overview XVIII.B.: Loan Modification/Foreclosure Prevention XVIII.C.: Nonjudicial Foreclosure XVIII.C.1.: Notice of and Right to Cure Default XVIII.C.2.: Foreclosure Process XVIII.C.3.: Redemption Rights XVIII.C.4.: Deficiency Judgment XVIII.D.: Judicial Foreclosure XVIII.D.1.: Notice of and Right to Cure Default XVIII.D.2.: Foreclosure Process XVIII.D.3.: Redemption Rights XVIII.D.4.: Deficiency Judgment XVIII.E.: Foreclosure Consultants and Equity Purchasers VI.A.: General Issues VI.B.: Mortgage Banker/Lender Compensation VI.C.: Mortgage Broker Compensation (Consumer & Lender Paid) VI.D.: Points VI.E.: Permissible Third Party Fees VI.F.: Attorney Fees VI.G.: Notary Fees VI.H.: Other Fees/Charges VI.H.1.: Late Fees VI.H.2.: Prepayment Penalties VI.H.3.: Assumption Fees VII.: Disclosure Requirements VII.A.: Plain Language Requirements VII.B.: Application and Preclosing VII.B.1.: General Disclosure Requirements VII.B.2.: Fee Disclosures (Advance & General) VII.B.3.: Prepayment Penalties VII.B.4.: ARM/Variable Rate Loans VII.B.5.: Negative Amortization Loans VII.B.6.: Loan Commitment/Approval VII.B.7.: Lock-In Agreements VII.B.8.: Adverse Action Notices VII.C.: Predatory Lending Disclosures VII.D.: Reverse Mortgages VII.E.: Providing Copies of Appraisals and Other Documents VII.F.: Closing VII.G.: Servicing VII.H.: Loan Modification/Loss Mitigation VII.I.: Foreclosure VIII.: Borrower Repayment Ability IX.: Refinancing Restrictions X.: Anti-Predatory Lending Laws X.A.: All Loans X.B.: High-Cost/Covered Loans X.C.: Subprime Loans XI.: Alternative Mortgage Transactions 2011, AllRegs pg. 3

: Notice of and Right to Cure Default XVIII.D.2.: Foreclosure Process XVIII.D.3.: Redemption Rights XVIII.D.4.: Deficiency Judgment XVIII.E.: Foreclosure Consultants and Equity Purchasers VI.A.

4 XI.A.: Balloon Loans XI.B.: Adjustable-Rate Mortgages or Adjustable Payment Mortgages XI.C.: Reverse Mortgages XI.D.: Nontraditional Mortgage Products XII.: Insurance Requirements XII.A.: Private Mortgage Insurance XII.B.: Hazard Insurance XII.C.: Health, Credit Life and Other Insurance XIII.: Real Estate Closing Practices XIII.A.: Escrow Requirements XIII.B.: Calculation of Interest XIII.C.: Marital Rights and Required Signatures XIII.D.: Homestead/Community Property XIII.E.: Cosigners XIII.F.: Powers of Attorney XIII.G.: Security Instruments XIII.H.: Notary Requirements XIII.I.: Document Preparation XIII.J.: Wet Settlement XIV.: Servicing Requirements XIV.A.: General Issues XIV.B.: Escrow Requirements XIV.C.: Servicing Fees XIV.D.: NSF Fees XIV.E.: Borrower Account Statements XIV.G.: Servicing Assigned Loans XIV.H.: Written Requests XIV.I.: Release of Lien XIV.J.: Payoff Statements XIV.K.: Acceptance of Delinquent Payments XIV.L.: Debt Collection Practices XV.: Loan Modifications/Loss Mitigation XV.A.: Licensing XV.B.: General Issues XV.C.: Modification Fees XV.D.: Disclosure/Notices XV.E.: Loss Mitigation 2011, AllRegs pg. 4

D.: Homestead/Community Property XIII.E.: Cosigners XIII.F.: Powers of Attorney XIII.G.: Security Instruments XIII.H.: Notary Requirements XIII.I.: Document Preparation XIII.J.: Wet Settlement XIV.

5 XVI.: Foreclosure XVI.A.: General Overview XVI.B.: Nonjudicial Foreclosure XVI.B.1.: Notice of and Right to Cure Default XVI.B.2.: Foreclosure Process XVI.B.3.: Redemption Rights XVI.B.4.: Deficiency Judgment XVI.C.: Judicial Foreclosure XVI.C.1.: Notice of and Right to Cure Default XVI.C.2.: Foreclosure Process XVI.C.3.: Redemption Rights XVI.C.4.: Deficiency Judgment XVI.D.: Foreclosure Consultants and Equity Purchasers XVII.: Consumer Fraud 2011, AllRegs pg. 5

: Deficiency Judgment XVI.C.: Judicial Foreclosure XVI.C.1.: Notice of and Right to Cure Default XVI.C.2.

State Bank Commissioner Consumer and Mortgage Lending Division

Agency 75 State Bank Commissioner Consumer and Mortgage Lending Division Editor s Note: The office of the consumer credit commissioner was abolished on July 1, 1999. Powers, duties and functions of the