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HF 2615

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 11:32pm

KEY: stricken = removed, old language.
underscored = added, new language.
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A bill for an act
 relating to real estate; streamlining the process of connecting an owner facing
a residential mortgage foreclosure with an authorized foreclosure prevention
agency and with a person authorized to negotiate on behalf of the foreclosing
lender; amending Minnesota Statutes 2008, section 580.021, subdivision 3;
repealing Minnesota Statutes 2008, sections 580.021, subdivision 4; 580.022,
subdivision 2.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2008, section 580.021, subdivision 3, is amended to read:


Subd. 3.

Notification to authorized counseling agency.

The party entitled to
foreclose shall, within one week deleted text begin ofdeleted text end new text begin after new text end sending the notice prescribed in section 580.022,
providenew text begin electronicallynew text end to the appropriate authorized foreclosure prevention agency the
new text begin mortgagee and mortgagor information including the new text end mortgagor's name, new text begin mailing new text end address,
deleted text begin anddeleted text end most recent known new text begin daytime and evening new text end telephone deleted text begin numberdeleted text end new text begin numbers, any known
e-mail address, and the address of the property at risk of foreclosure if different from
mortgagor's mailing addressnew text end .

new text begin In the same communication, the mortgagee shall also provide the name and contact
information of the agent of the mortgagee authorized to discuss and negotiate resolution
of the default. The mortgagee contact information must include the agent's name, mail
and e-mail addresses, and direct phone and fax numbers. The contact information must
also include the name, direct phone number, and e-mail address of the loss mitigation
department manager. The agent must be a person authorized by the mortgagee to:
 new text end

new text begin (1) discuss the terms of the mortgage with the authorized foreclosure prevention
agency or the mortgagor; and
 new text end

new text begin (2) negotiate any resolution of the mortgagor's default.
 new text end

new text begin Nothing in this subdivision requires a mortgagee to reach a resolution relating to
the mortgagor's default.
 new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective August 1, 2010, and applies to
foreclosures in which the notice required under Minnesota Statutes, section 580.021,
subdivision 2, is provided on or after that date.
 new text end

Sec. 2. new text begin REPEALER.
new text end

new text begin Minnesota Statutes 2008, sections 580.021, subdivision 4; 580.022, subdivision
2, new text end new text begin are repealed.
 new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective August 1, 2010, and applies to
foreclosures in which the notice required under Minnesota Statutes, section 580.021,
subdivision 2, is provided on or after that date.
 new text end