On 03/27/2008, the state of West Virginia enacted SB 292. The new law authorizes the Commissioner of Banking to make a claim for an unpaid civil administrative penalty or an unpaid assessment invoice against a mortgage lender’s license bond. The law in place allows claims against the bond directly from consumers. The new law became active on June 7, 2008.
Eric is the Webmaster of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog.