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MN SF2445
Bill
Status
3/6/2014
Primary Sponsor
Ronald Latz
Click for details
AI Summary
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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.
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Removes the August 1, 2014 sunset date that previously limited the 125-foreclosure-sales criterion to small servicer classification.
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Clarifies that time limits in the Foreclosure Curative Act (section 582.25) apply regardless of common law provisions.
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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