MN SF2779

Establishes a mandatory mortgage foreclosure mediation program in Minnesota (Chapter 584) for residential properties when the foreclosing entity has recorded at least 150 notices of default in the prior year.

Increases county recorder fees for recording notices of pendency and lis pendens from existing rates to $346 total, with $300 directed to a mortgage foreclosure mediation fund to operate the state program.

Requires foreclosing entities to provide homeowners with detailed loss mitigation information within 14 days of mediation notice, including current borrower information, additional information needed for loan modification decisions, and identification of a single point of contact.

Mandates foreclosing entities and subsequent lienholders participate in mediation in good faith; failure to do so results in void foreclosure documents and prohibits the entity from initiating new foreclosures for one year.

Mediators selected by the Office of Administrative Hearings must hold at least one mediation session within 60 days of notice, with homeowners having the option to opt out; mediation agreements are enforceable as legal contracts.