Grants a right of action where registration fees of residential mortgages in default are imposed on the mortgagor; increases fee amount authorized to be imposed on mortgagees or their agents.
Same As
Grants a right of action where registration fees of residential mortgages in default are imposed on the mortgagor; increases fee amount authorized to be imposed on mortgagees or their agents.
Modifies the cap on the registration fee for the registration of residential mortgages in default which may be imposed by a local law, ordinance or resolution.
Modifies the cap on the registration fee for the registration of residential mortgages in default which may be imposed by a local law, ordinance or resolution.
Prohibits mortgagee from refusing to accept partial mortgage payments from a mortgagor which does not bring the mortgagor current on his or her mortgage debt.
Prohibits mortgagees from requiring mortgagors of certain residential real property to purchase flood insurance exceeding a coverage amount that exceeds the balance as of the beginning of the year for which the policy shall be in effect, or that includes coverage for contents.
Prohibits mortgagees from requiring mortgagors of certain residential real property to purchase flood insurance exceeding a coverage amount that exceeds the balance as of the beginning of the year for which the policy shall be in effect, or that includes coverage for contents.
Relates to increasing the maximum civil penalty from $500 to $1000 per day per property for each day the mortgagee or agent of the mortgagee has been in violation.
Relates to increasing the maximum civil penalty from $500 to $1000 per day per property for each day the mortgagee or agent of the mortgagee has been in violation.
Requires the development of a mortgage bill of rights pamphlet on residential mortgages; provides such pamphlet shall be posted and printed in the 8 most popularly spoken languages in the state.