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Mortgage Servicing and Loan Modifications: NORTH CAROLINA

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.

Mortgage Servicing and Loan Modifications: OHIO

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.

Mortgage Servicing and Loan Modifications: OREGON

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:

Mortgage Servicing and Loan Modifications: PUERTO RICO

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.

Mortgage Servicing and Loan Modifications: RHODE ISLAND

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.

Mortgage Servicing and Loan Modifications: SOUTH CAROLINA

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).

Mortgage Servicing and Loan Modifications: TENNESSEE

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.

Mortgage Servicing and Loan Modifications: TEXAS

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.

Mortgage Servicing and Loan Modifications: UTAH

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.

Mortgage Servicing and Loan Modifications: VIRGIN ISLANDS

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.

Mortgage Servicing and Loan Modifications: VIRGINIA

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.

Mortgage Servicing and Loan Modifications: WASHINGTON

Wash. Rev. Code §§ 19.148.010 through 19.148.900 (Mortgage Loan Servicing); Wash. Rev. Code §§ 31.04.015 through 31.04.297 (Consumer Loan Act)

Scope:

Consumer Loan Act: Making secured or unsecured loans, or servicing residential mortgage loan. § 31.04.035.

Mortgage Loan Servicing: Loans used to finance the acquisition of an owner-occupied one to four family residence in state. § 19.148.020.

Mortgage Servicing and Loan Modifications: WISCONSIN

Wis. Stat. § 138.052; Wis. Stat. § 224.71 through 224.82; Wis. Stat. §§ 428.101 through 428.106

Scope: Loans secured by first lien mortgage, made or refinanced after Nov. 1, 1981, on one to four family dwelling which is borrower’s principal place of residence. Wis. Stat. § 138.052. Mortgage bankers, defined to include servicing of residential mortgage loans. Wis. Stat. § 224.71. First mortgages where the amount financed is less than $25,000. Wis. Stat. § 428.101.

Mortgage Servicing and Loan Modifications: ALABAMA

Ala. Code § 35-10-91

Requirements: Borrower must provide proper notice in order to obtain payoff statement. Payoff statement must be issued within fourteen days of receipt of notice. Creditor may take “reasonable measures” to verify the identity of any person acting on borrower’s behalf and to obtain borrower’s authorization to release information before the fourteen-day time period begins.

Mortgage Servicing and Loan Modifications: ARIZONA

Ariz. Rev. Stat. Ann. § 33-715

Requirements: Where failure to provide statement fourteen days after written demand, liability for $500 damages plus any actual damages. Holder may charge no more than $30 fee for statement.

Mortgage Servicing and Loan Modifications: CALIFORNIA

Cal. Civ. Code § 2943 (West)

Requirements: Where failure to provide statement twenty-one days after written demand, liability for $300 damages plus any actual damages; liability may recur after six-month period. Holder may charge no more than $30 fee for statement.

Mortgage Servicing and Loan Modifications: COLORADO

Colo. Rev. Stat. § 5-3.5-103(1)(h)

Requirements: For specified loans as defined in § 5-3.5-101(2), statement required no more than five business days after written request. No fee allowed for payoff quote. For enforcement see § 5-3.5-201.

Mortgage Servicing and Loan Modifications: CONNECTICUT

Conn. Gen. Stat. § 49-10a

Requirements: Payoff statement or reinstatement payment statement required on date requested by mortgagor as long as mortgagee has seven business days in which to reply. No fee allowed unless agreed upon for expedited reply. For non-compliance, no interest accrual allowed for period after which statement was due.