Introduced
by
To give the state Office of Financial and Insurance Regulation the power to extend the earliest date to begin foreclosure proceedings for up to 90 days, and to order the mortgage servicer and the borrower to participate in mediation. Along with Senate Bill 1666 the bill would impose new notice and record-keeping requirements on lenders or loan servicers before foreclosure proceedings could begin, and give courts the power to dismiss or delay a subprime mortgage foreclosure action if these are not met.
Referred to the Committee on Banking and Financial Institutions
