California Civil Code

§ 2924.10

CIV § 2924.10 Effective Jan 1, 2019Div. 3 · Title 14 · Part 4 · Ch. 2 · Art. 1

Statute text

(a)When a borrower submits a complete first lien modification application or any document in connection with a first lien modification application, the mortgage servicer shall provide written acknowledgment of the receipt of the documentation within five business days of receipt. In its initial acknowledgment of receipt of the loan modification application, the mortgage servicer shall include the following information:

(1)A description of the loan modification process, including an estimate of when a decision on the loan modification will be made after a complete application has been submitted by the borrower and the length of time the borrower will have to consider an offer of a loan modification or other foreclosure prevention alternative.

(2)Any deadlines, including deadlines to submit missing documentation, that would affect the processing of a first lien loan modification application.

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Legislative history

Added by Stats. 2018, Ch. 404, Sec. 13. (SB 818) Effective January 1, 2019.