MN HF2819

State-chartered banks must provide residential mortgage loan customers with written criteria for loan modification eligibility at least annually, within 30 days of any criteria changes, and upon request.

Banks must notify customers in writing within five days if a loan modification application is denied and provide an explanation of how the customer failed to meet the criteria.

Banks must provide customers with accurate information about the lender.

Foreclosure advice notices must inform customers they have the right to request a written statement from their lender describing how the lender decides whether to modify a loan.