MA H1146

Creates a Resolution Trust Fund administered by the State Treasurer to receive residential mortgage loans where the current mortgagee or note owner cannot be identified due to predatory lending practices and untraceable title chains

Requires mortgage loans transferred to the fund be modified to traditional prime lending characteristics: maximum 80% loan-to-value ratio, prime interest rate, fixed payment schedule, no prepayment penalties, and no balloon payments

Fund may retain up to 15% of mortgage payments for administrative overhead; must establish escrow accounts for taxes and insurance, notify mortgagors within 30 days of transfer, and record all transfer documents within 20 days

Triggers community investment when county payments reach $300,000 or city/town cluster payments reach $100,000, requiring public hearings to determine fund distribution with preference to neighborhoods most affected by predatory lending

Mandates annual reporting by December 15 to legislative leadership and relevant committees on fund expenditures, regional distribution, and impact on affordable housing and community development