Sections
11 entriesSection 3273.20Establishes “Mortgage Forbearance Act” as the name of the title and allows the title to be cited by that name. The provision…Section 3273.21Defines “borrower” for the wildfire mortgage-relief title as a natural-person mortgagor or trustor, or a power-of-attorney holder, excluding someone who surrendered the…Section 3273.22Sets this title applies to a depository institution chartered under federal or state law, a person covered by the licensing requirements of…Section 3273.23Allows a wildfire-hardship borrower to request forbearance before the earlier of six months after the emergency ends or January 7, 2027. Requires…Section 3273.24Requires a mortgage servicer to tell a borrower granted the specified forbearance that the deferred mortgage payments must be repaid, with the…Section 3273.25Prohibits a mortgage servicer, while a borrower is performing under a disaster-related forbearance, from initiating judicial or nonjudicial foreclosure, seeking a foreclosure…Section 3273.26Establishes that failure to comply with the title does not affect the validity of a trustee’s sale or a sale to a…Section 3273.27Exempts a person from liability under the disaster-forbearance title when compliance conflicts with applicable servicing guidelines: federally backed loans use the applicable…Section 3273.28Requires the Department of Financial Protection and Innovation to post on its website links to servicing guidelines for disaster-related forbearance on federally…Section 3273.29Establishes legislative intent that a mortgage servicer offer disaster-related forbearance consistent with its contractual or other authority and that the title not…Section 3273.30Establishes severability for the title, so invalidity of one provision or application does not affect other provisions or applications that can operate…