Recently enacted SB 900/AB 278 (California Homeowners Bill of Rights) allows borrowers a private right of action and the right to claim damages and attorney’s fees for failure to comply. The legislation will likely overturn current case law protecting lenders from many foreclosure claims. Any covered lender must comply or face the likelihood of numerous lawsuits. Borrower counsel are already preparing. Now is the time for you to prepare.
Please note: If you want more information on the scope of the compliance requirements for SB 900, you can order the SLG webinar: California Foreclosure-Bankruptcy-Eviction: Legislation and Litigation Update (Where have we been, Where are we going?). Exhibit C to the presentation materials provides a detailed outline of coverage issues facing lenders. This webinar is available for purchase on our website: www.scheerlawgroup.com
This Compliance Package limited to financial institutions or licensees that foreclosed on 175 or fewer res prop, 4 units or less, in CA, during last year or reporting period.
Ordering: The Compliance Package is now ready for purchase. If you are interested in ordering a Compliance Package, please contact: Joshua Scheer at: (415) 4918900 x 108 or email: [email protected], or contact Spencer Scheer at: (415) 4918900 x 105 or email: [email protected]
“This firm knows what they are doing . SLG is an unique, pragmatic law firm: In this rapidly changing legal environment, they keep me informed, protect our interests and understand our business needs”.
– Pat McCarty, Sr. VP – Circle Bank
“I have attended the SLG presentation on Loss Mitigation, Where have we been and where are we going? It is a practical and effective overview of the loss mitigation process from workouts through evictions, with a focus on current and pending regulations. It is fast paced, practical and hits on issues that are relevant to lenders and servicers, and will help us better understand the current market realities and mitigate losses. I highly recommend this seminar”
-Steve Stone, Chief Financial Officer – 1st United Services Credit Union
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