[WSBARP] FORECLOSURE FAIRNESS PROGRAM - New information - Program Revisions Effective June 12, 2014

[Rob Rowley]

For those of us who practice in this area (I’m on the creditor/bank side
in Eastern Washington) – the latest from the DOC.

 

Robert R. Rowley

(509) 252-5074 (wk)

rob at rowleylegal.com

 

From: Holcomb, Charell (COM) [mailto:charell.holcomb at commerce.wa.gov] 
Sent: Wednesday, June 11, 2014 1:29 PM
To: Holcomb, Charell (COM)
Cc: Grigoras, Corina (COM); Henderson, Brigid (COM); Deja, Jordan (COM);
Ritchey, Cynthia (COM); Ogden, Nancy (COM)
Subject: FORECLOSURE FAIRNESS PROGRAM - New information - Program
Revisions Effective June 12, 2014

 

Good morning –

 

You are most likely aware that the WA State Legislature recently passed
House Bill 2723
<http://apps.leg.wa.gov/billinfo/summary.aspx?year=2014&bill=2723>  titled
“Modifying Certain Provisions Governing Foreclosure”.  We are writing to
inform you that as a result of the amendments, updated Foreclosure
Fairness Program Guidelines and referral forms will be posted on our
website
<http://www.commerce.wa.gov/Programs/housing/Foreclosure/Pages/default.asp
x>  by Thursday, June 12, 2014.  However; we have attached a copy for your
review prior to the posting.

 

All revisions have been incorporated into the referral form and/or
instructions as needed.  Please take a few minutes and review the form,
prior to your first use, to ensure you thoroughly understand the changes
and are submitting information correctly.  

 

For your convenience, we have included bullet points indicating specific
revisions:

 

Revisions related to referrals:

Ø  Voluntary Mediation (as of June 12, 2014, HB 2723); new section per
passage of HB 2723. 

Ø  “Borrower” Definition Expanded (as of June 12, 2014, HB 2723); new
section per passage of HB 2723

Ø  Owner Occupancy and Residential Real Property Requirement; revision per
passage of HB 2723 and editorial changes

Ø  Quit Claim Deeds; revision per passage of HB 2723 and editorial changes

Ø  Repeat or Subsequent Mediations; revision per passage of HB 2723 and
editorial changes

Ø  Mediations Outside of FFA; revision per passage of HB 2723

Ø  Request for a Second Mediation to Enforce Prior Agreements; editorial
changes

Ø  Exemption from Mediation; editorial changes

Ø  Notification of New Beneficiary; editorial changes

 

Revisions related to mediation and certification:

Ø  Mediation Timeline/Postponing the Mediation; revision per passage of HB
2723 and editorial changes

Ø   Mediation Timeline/Contacting the Parties to Ensure Readiness;
editorial changes 

Ø  Requirements to Produce the Pooling & Servicing Agreement; revision per
passage of HB 2723

Ø  Mediation Continuances; additional guidance and editorial changes

Ø  Mediations Cancelled When Ineligible, Ineligibility Claims; additional
guidance and editorial changes

Ø  Borrower Withdrawal Prior to Mediation; additional guidance and
editorial changes

Ø  Completing the Mediation Report/Certification; editorial changes

Ø  Mediation Fees; revision per passage of HB 2723

Ø  Conflicts of Interest, Mediators Also Acting as Homeowner or
Beneficiary Representatives; additional guidance

 

Miscellaneous:

Ø  Complaints Regarding Mediators; editorial changes

Ø  Other Types of Complaints; new section with additional guidance

 

 <mailto:charell.holcomb at commerce.wa.gov> Charell Holcomb

Foreclosure Fairness Specialist
Community Services and Housing Division

Washington State Department of Commerce

                                  

Phone:  (360) 725-3041

 

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