WA HB 2723 Modifies Certain Provisions Governing Foreclosures
On March 31, Washington Governor Jay Inslee signed House Bill 2723, which modifies certain foreclosure fairness act provisions. The bill becomes effective June 12, 2014.
Link to enrolled bill. Following is a summary of the bill.
Modifies foreclosure fairness act provisions regarding:
(1) Location of preforeclosure meeting and mediation;
(2) Mailing requirements for notices of preforeclosure
(3) Changes to the foreclosure loss mitigation form;
(4) Borrower and beneficiary agreement to enter the
foreclosure mediation program;
(5) Required documentation for mediation purposes;
(6) Referrals to mediation; and
(7) Allocation of funds from the foreclosure fairness
Safeguard Properties is the largest mortgage field services company in the U.S. Founded in 1990 by Robert Klein and based in Valley View, Ohio, the company inspects and maintains defaulted and foreclosed properties for mortgage servicers, lenders, and other financial institutions. Safeguard employs approximately 1,700 people, in addition to a network of thousands of contractors nationally. Website: www.safeguardproperties.com.