Mortgage Servicing and Loan Modifications: MINNESOTA
Minn. Stat. §§ 47.205 (Servicers); Minn. Stat. § 47.20(9) (Escrow)
Scope: Servicing of mortgage loans financing one to four family owner-occupied residences.
Exclusions: None specified.
Minn. Stat. §§ 47.205 (Servicers); Minn. Stat. § 47.20(9) (Escrow)
Scope: Servicing of mortgage loans financing one to four family owner-occupied residences.
Exclusions: None specified.
Miss. Code Ann. §§ 81-18-1 through 81-18-61 (Mississippi S.A.F.E. Mortgage Act)
Scope: Mortgages on one to four unit residences occupied by natural person(s). Mortgage lenders including servicers. § 81-18-3(w).
Exclusions: Numerous exclusions including banks, credit unions, various other entities regulated under other statutes, government entities, certain nonprofit corporations.
Transfer Notice Requirements: None specified.
Mo. Rev. Stat. § 443.861 (Transfer of Servicing Rights); Mo. Rev. Stat. § 443.865 (Escrow and Transfer Provisions of Residential Mortgage Broker License Act)
Mont. Code Ann. §§ 32-7-101 through 32-7-124, 32-9-145, 71-1-113 to 71-1-115
Neb. Rev. Stat. §§ 45-737, 45-739 (Transfer of Servicing); Neb. Rev. Stat. § 45-101.05 (Escrows)
Nev. Rev. Stat. §§ 645A.010 through 645A.235 (Escrow Agents); Nev. Rev. Stat. § 645B.170 (Mortgage Companies and Mortgage Loan Originators); Nev. Rev. Stat. § 645E.430 (Mortgage Bankers) (repealed eff. Jan. 1, 2020).
Scope: Mortgage companies and mortgage loan originators.
N.H. Rev. Stat. Ann. § 397-A:1 through A:23 (Nondepository First Mortgage Bankers)
Scope:
Nondepository First Mortgage Bankers and Mortgage Loan Servicers: The servicing provisions of chapter 397-A apply to “licensees,” which is defined to include mortgage bankers, brokers, originators, and servicers. § 397-A:1.
N.J. Stat. Ann. §§ 17:16F-15 through 17:16F-26 (West). See also N.J. Stat. Ann. § 46:10B-25 (West)
Scope: Mortgage loans made to individuals for personal, family, or household purposes, secured by a structure containing not more than six dwelling units (parts of structure may be used for nonresidential purposes).
N.M. Stat. Ann. § 48-7-8 (Mortgage Escrow Funds)
Scope: Real property mortgages.
Exclusions: None specified.
Transfer Notice Requirements: None specified.
Borrower Inquiries: Not specified.
Escrow Requirements:
N.Y. Banking Law § 6-k (McKinney) (Real Property Insurance Escrow Accounts); N.Y. Gen. Oblig. Law § 5-601 (McKinney); N.Y. Real Prop. Tax Law §§ 952 through 959 (McKinney) (Real Property Tax Escrow Accounts); N.Y. Comp. Codes R. & Regs. tit. 3, §§ 419.1 through 419.14
N.C. Gen. Stat. §§ 45-90 through 45-95; N.C. Gen. Stat. §§ 53-244.010 through 53-244.121
Scope: “Home loans,” defined as loans secured by real property in North Carolina used or intended to be used as a dwelling. “Servicers” as defined in RESPA, 12 U.S.C. § 2605(i). § 45-90. Mortgage business, defined to include servicing of residential mortgage loans. § 53-244.030.
N.D. Cent. Code §§ 47-10.2-01 through 47-10.2-05 (Escrow Accounts); N.D. Cent. Code § 6-08-29
Ohio Rev. Code Ann. § 1349.27 (West)
Scope: Not specified.
Exclusions: None specified.
Transfer Notice Requirements: None specified.
Borrower Inquiries: Not specified.
Escrow Requirements:
Restrictions: None specified.
Recordkeeping and notice: None specified.
Okla. Stat. tit. 14A, § 3-406
Scope: Not specified.
Exclusions: None specified.
Or. Rev. Stat. §§ 86.205 through 86.275
Scope: Lenders making loans secured by real property occupied by borrower and located within state, including multi-family property. Definition of lenders includes holders. § 86.205.
Exclusions: None specified.
Transfer Notice Requirements: None specified.
Borrower Inquiries: Not specified.
Escrow Requirements:
7 Pa. Cons. Stat. §§ 6101 through 6153 (Mortgage Licensing Act); 63 Pa. Stat. and Cons. Stat. Ann. §§ 456.501 through 456.524 (West)
Scope:
Scope: None specified.
Exclusions: None.
Transfer Notice Requirements: None specified.
Borrower Inquiries: None specified.
Escrow Requirements:
Restrictions: None specified.
Recordkeeping and notice: None specified.
Handling of Funds: None specified.
R.I. Gen. Laws § 19-9-2 (Escrow Accounts); R.I. Gen. Laws § 34-26-2
Scope: Any regulated financial institution and any person who makes or negotiates loans secured by owner-occupied one to four family residences. § 19-9-1.
Exclusions: Mortgages insured or guaranteed by Veterans Admin., Federal Housing Admin., Farmers Home Loan Admin., or private mortgage insurer licensed to do business in state. § 19-9-2.
S.C. Code Ann. §§ 37-22-110 through 37-22-270; S.C. Code Ann. §§ 37-23-10 through 37-23-60
Scope: Mortgage lenders, defined to include servicing a mortgage loan. § 37-22-110(2).
Exclusions: None specified.
Transfer Notice Requirements: Licensee must comply with RESPA mortgage loan servicing transfer requirements [12 U.S.C. § 2605]. § 37-22-190(A)(11).
Tenn. Code Ann. § 45-13-201 through 45-13-506 (Mortgage Lending, Brokerage and Servicing); Tenn. Comp. R. & Regs. 0180-17-.03
Scope:
Mortgage Lenders, Brokers, and Servicers: Persons acting as a mortgage lender, mortgage loan broker or mortgage loan servicer in the state. Tenn. Code Ann. § 45-13-201.
Tenn. Comp. R. & Regs. 0180-17-.03: Transferor and transferee of servicing rights under a mortgage loan.
Tex. Fin. Code Ann. §§ 158.001 through 158.106 (West) (Residential Mortgage Loan Servicer Registration Act); Tex. Fin. Code Ann. §§ 343.201 through 343.206 (West)
Scope: Any person acting as residential mortgage loan servicer, directly or indirectly, for mortgage loan secured by residential real estate in state. § 158.051.
Utah Code Ann. §§ 70D-1-102 through 70D-2-506 (West) (Mortgage Lending and Servicing); Utah Code Ann. §§ 7-17-1 through 7-17-10 (Reserve Accounts) (West)
Scope:
Mortgage Lending and Servicing: Loans made for personal, family, or household purposes and secured by a mortgage on real property located in state. § 70D-1-102.
Vt. Stat. Ann. tit. 8, § 10404; Vt. Stat. Ann. tit. 8, §§ 2900 through 2922 (Third-Party Loan Servicers); Vt. Stat. Ann. tit. 8, § 14302 (Financial Institutions)
V.I. Code Ann. tit. 9, §§ 66, 67 (Banks and Foreign Banks); V.I. Code Ann. tit. 9, §§ 361, 363, 375 (Mortgage Lenders and Brokers)
Scope: §§ 66 and 67 cover banks and foreign banks. Tit. 9, §§ 1 through 2. §§ 361, 363, and 375 cover mortgage lenders (defined to include servicers). See § 361.
Va. Code Ann. § 6.2-1618
Scope: Lenders and brokers who originate, make, or negotiate a mortgage loan, which is a loan to an individual for personal, family, or household purposes secured by a mortgage or deed of trust on a one to four family residential property located in state, including renewal and refinancing. § 6.2-1600.