Updated mortgage law guide offers comprehensive, accessible content
The American College of Mortgage Attorneys (ACMA) has rolled out a digital version of its Mortgage Law Summary (MLS), making it readily available for real estate professionals who need quick access to comprehensive information on mortgage laws.
The new digital format transforms the traditional nearly two-pound publication into a more user-friendly and accessible resource for mortgage and real estate professionals who want to understand the legal implications of commercial mortgage transactions.
Now available on the ACMA website, the MLS can be accessed on various devices, including computers, laptops, and smartphones. The association said the digital guide significantly enhances the usability of the MLS, especially for real estate agents, lenders, and borrowers who need to consult the guide while on the go.
Covering a broad spectrum of topics, the MLS delves into various aspects of mortgage law. This includes the types of security instruments used, recording requirements, statutes to be waived, standard provisions treatment, future advances, usury, guaranties, foreclosures, and statutes of limitation. It also addresses requirements for lien releases, mortgage, documentary, transfer taxes, homestead issues, choice of law, receivership, labor, material men’s liens, and title insurance.
“It is an essential tool that offers a comprehensive and accessible guide to mortgage laws, as well as summaries of current state and provincial laws related to mortgages, making it an indispensable resource for anyone involved in mortgage transactions,” the association said in a press release.
Established in 1974, ACMA is a group of real estate finance attorneys with over 500 members in the United States, Canada, and Puerto Rico. The association provides a variety of resources to its members, including continuing legal education programs, publications, and networking opportunities.
Stay updated with the freshest mortgage news. Get exclusive interviews, breaking news, and industry events in your inbox, and always be the first to know by subscribing to our FREE daily newsletter.
