By the Division of Banks


Public Informational Hearing

On Wednesday August 29, 2012, the Division of Banks will hold a public informational hearing at 1000 Washington St., 1st Floor, Boston, MA 02118 related to regulations required by Chapter 194, An Act Preventing Unlawful and Unnecessary Foreclosures. Among other comments that may be offered, input on the following questions will be accepted:

  • What should be included in the content of the regulations?

  • What should be minimum requirement for borrowers to respond to notice?

  • Should the Division of Banks define good faith efforts by creditor?

    • If so, what should those be?

  • Should the Division of Banks define safe harbor?

    • If so, what should those be?

  • Should the Division of Banks develop a model form under 35B?

    • If so, what should those be?

  • Should the Division of Banks define the process for determining if a loan is a "certain mortgage loan"?

  • Should the Division of Banks further define Net Present Value or NPV by regulation?

  • Should the Division of Banks issue separate 35B regulations or combine with35A?

  • Should the Division of Banks issue regulations under 35C?

    • If so, what should they look like?

    • If so, should they be stand-alone or combined with 35A or 35B?

  • Should the Division of Banks provide guidance through regulations on affidavit requirements in 35B? 35C(b)?

    • Should it be combined with 35A?

  • Should the 35A notice be changed as a result of this legislation?

    • If so, how should it be changed?

  • Are there any other sections of Ch. 244 that, as a result of this legislation, create ambiguity in the foreclosure process?

    • If so, is there a way to address this through regulation?