MS SB2665

Prohibits foreclosure on residential property unless mortgagee provides mortgagor with 90 days' written notice by certified mail detailing the default, cure rights, and foreclosure intent.

Notice must include conspicuous heading "Notice of Intent To Foreclose and Right to Cure" with loan details, origination information, and specific deadline for curing default, with no attorney's fees or additional charges allowed during the 90-day cure period.

Requires mortgagees to file a copy of the foreclosure notice with the Commissioner of Banking and Consumer Finance, including loan interest rate and whether fixed or variable.

Prohibits mortgagors in default or foreclosure from transferring title to residential property with intent to regain possession unless the purchaser is a spouse, parent, grandparent, child, grandchild, sibling, aunt or uncle.

Requires the Commissioner to maintain a foreclosure database tracking activity by lenders, holders, servicers, brokers and originators, and produce annual public reports analyzing trends by geographic location, interest rates, and comparison of preforeclosure to final foreclosure notices.