Homeownership

AB 1730 (Wagner)

Mortgage loan modification.

2014

Description:

Current law prohibits a person who negotiates or arranges mortgage loan modification or other form of mortgage loan forbearance for a fee or other compensation from, among other things, demanding or receiving any compensation until every service that the person contracted to perform or represented that he or she would perform is accomplished. This bill would require the assessment of civil penalties for a violation of these provisions and would authorize designated state and local government officials to commence civil actions to recover those penalties.

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Bill Text and Information

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