MS HB1275

Creates the Mississippi Residential Mortgage Foreclosure Mediation (RMFM) Program managed by the Administrative Office of Courts to provide mandatory mediation between borrowers and lenders before foreclosure actions on homestead properties proceed.

Requires plaintiffs to file an RMFM Program Form certifying whether the property is a homestead residence and identifying a representative with full settlement authority; borrowers must meet with a HUD-certified foreclosure counselor and provide financial disclosure within specified timeframes before mediation can be scheduled.

Mandates at least one mediation session between 60-120 days after suit is filed for homestead properties, with both plaintiff's representative and borrower required to physically attend (plaintiff's representative may appear electronically with court approval); mediation must occur before default judgment, summary judgment, or final hearing can be entered.

Sets total RMFM Program fees at $750 maximum ($400 paid by plaintiff at filing, $350 within 10 days of mediation notice), covering mediator fees, foreclosure counseling, and program administration; plaintiffs filing 5+ foreclosure actions must appoint two liaisons to coordinate with courts.

Allows plaintiffs to obtain refunds of certain fees if borrower cannot be located or declines participation, and permits courts to tax program fees as costs in the final foreclosure judgment; effective July 1, 2012.