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#1249317 - 09/12/09 12:01 AM SB 5810 - Foreclosure info on website
RFitzpatrick Offline
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RFitzpatrick
Joined: Apr 2002
Posts: 424
Pacific NW

Here's another new state requirement that I don't think many have caught on to yet. The new foreclosure rules in SB 5810 determined specific proceudres that need to be followed. But within the rule is a requirement to place a link regarding Foreclosure information on your bank's website Home page.

Not sure how this should look exactly yet. We will probably provide our info and link out to the HUD website (www.hud.gov/foreclosure) for more info.

From SB5810:

(e) The beneficiary or authorized agent shall post a link on the home page of the beneficiary's or authorized agent's internet web site,if any, to the following information:
(i) Options that may be available to borrowers who are unable to afford their mortgage payments and who wish to avoid foreclosure, and instructions to borrowers advising them on steps to take to explore those options;
(ii) A list of financial documents borrowers should collect and be prepared to present to the beneficiary or authorized agent when discussing options for avoiding foreclosure;
(iii) A toll-free telephone number or charge-free equivalent for borrowers who wish to discuss options for avoiding foreclosure with their beneficiary or authorized agent; and
(iv) The toll-free telephone number or charge-free equivalent made available by the department to find a department-certified housing counseling agency.
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#1250291 - 09/15/09 04:32 PM Re: SB 5810 - Foreclosure info on website RFitzpatrick
'Lil Freak! Offline
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'Lil Freak!
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Posts: 10,596
The psych ward
We received a model disclosure from our League and have a link on our mortgage website. PM me if you'd like to see it.
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#1413735 - 07/09/10 11:33 PM Re: SB 5810 - Foreclosure info on website 'Lil Freak!
West Coast Comp Offline
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West Coast Comp
Joined: Jun 2010
Posts: 350
Lost in the rain.
Does anyone have the RCW for this?
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#1413883 - 07/12/10 03:41 PM Re: SB 5810 - Foreclosure info on website West Coast Comp
'Lil Freak! Offline
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'Lil Freak!
Joined: Sep 2005
Posts: 10,596
The psych ward
1 AN ACT Relating to foreclosures on deeds of trust; amending RCW
2 61.24.005, 61.24.010, 61.24.040, and 61.24.060; reenacting and amending
3 RCW 61.24.030; adding new sections to chapter 61.24 RCW; adding a new
4 section to chapter 59.12 RCW; creating a new section; and providing an
5 expiration date.

http://apps.leg.wa.gov/documents/WSLdocs/2009-10/Pdf/Bills/Session%20Law%202009/5810.SL.pdf
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#1413925 - 07/12/10 04:57 PM Re: SB 5810 - Foreclosure info on website 'Lil Freak!
West Coast Comp Offline
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West Coast Comp
Joined: Jun 2010
Posts: 350
Lost in the rain.
Thanks
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