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Loan Modification

: Mortgage Lender Implode-o-Meter

California?s SB 1275, What?s Not to Like?

By Implode-Explode Heavy Industries

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"California Senate Bill 1275 (?SB 1275?) has passed the Senate Banking Committee and is now headed to the Assembly Banking Committee. It would require servicers to take the actions listed below in items 1-4, before recording a Notice of Default (NOD), and record a new document, called a Declaration of Compliance, which is to be attached to every NOD. It would also establish penalties to be assessed against servicers that fail to comply with the provisions of the bill."

Full post as published by Mortgage Lender Implode-o-Meter on June 08, 2010 (boomark / email).

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