Sacramento Report
April 20, 2010
Notice to Delinquent Borrowers
Assembly Bill 2236 (Monning) creates more requirements for existing notices to delinquent borrowers. AB 2236 would require mortgagees, trustees or beneficiaries or their authorized agents to include the name and contact information, including the address and telephone number, of the trustee or other authorized agent that has the authority to modify the terms and conditions of the borrower’s loan, on all notices informing a borrower that he or she has failed to make a required payment. The bill is slated for hearing in the Assembly Banking and Finance Committee in early May.
