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MN SF2445

Bill

Status

Introduced

3/6/2014

Primary Sponsor

Ronald Latz

Click for details

Origin

Senate

88th Legislature 2013-2014

AI Summary

  • Amends the definition of "small servicer" to include servicers that conducted 125 or fewer foreclosure sales during the preceding 12 months, making this criterion permanent rather than temporary.

  • Removes the August 1, 2014 sunset date that previously limited the 125-foreclosure-sales criterion to small servicer classification.

  • Clarifies that time limits in the Foreclosure Curative Act (section 582.25) apply regardless of common law provisions.

  • Establishes specific time periods for applying foreclosure curative act provisions: one year after redemption period ends for most provisions, ten years after foreclosure sale for clause (2), and until end of redemption period for clause (23).

Legislative Description

Foreclosure curative act clarification and small servicer definition modification

Last Action

HF substituted on General Orders HF2213

4/24/2014

Committee Referrals

Judiciary3/12/2014
Commerce3/10/2014
Judiciary3/6/2014

Full Bill Text

No bill text available