Transforming Mortgage Servicing: Developments in California Law
Friday, April 5, 2013
Federal Reserve Bank of San Francisco
101 Market Street
San Francisco, CA 94105
9:00 am - 4:00 pm
Breakfast and lunch will be provided.
There is no cost to attend, but advanced registration is required. Registration may be limited to two per organization in order to accommodate attendees from numerous organizations and various sectors. Please register for only one location.
Jennifer Song, Staff Attorney
California Monitor, A Program of the Attorney General
April 2013 marks one year from the signing of the National Mortgage Settlement (NMS) and six months from the effective date of critical NMS mortgage servicing standard reforms. The Homeowner Bill of Rights (HBOR) was enacted in July 2012 but its provisions became effective on January 1, 2013. HBOR codifies in state law the broad intentions of the NMS’s pre-foreclosure protections. It represents a dramatic change to the state’s foreclosure statute and as a result will present both challenges and opportunities for homeowners and industry.
The forum will provide participants with an overview of HBOR requirements and resources. It will also provide training to lawyers on HBOR litigation and on the interaction between HBOR and the NMS servicing standards applicable to the the five settling banks—Bank of America, Wells Fargo, Chase, Citi, and GMAC/Ally. Attendees to these forums will have an opportunity to discuss the progress and challenges of the first year of the Settlement.