UGENTI FLOOR AMENDMENT
HOUSE OF REPRESENTATIVES AMENDMENTS TO H.B. 2033
(Reference to printed bill)
Page 1, strike lines 32 through 38, insert:
"b. IF A BENEFICIARY OF A FORECLOSED TRUSTEE’S DEED RECEIVES PAYMENT BASED ON PRIVATE MORTGAGE INSURANCE COVERING THE SALE THAT IS IN ADDITION TO THE PROCEEDS OF THE SALE, THE BENEFICIARY SHALL SUBMIT TO THE COUNTY ASSESSOR IN THE COUNTY WHERE THE PROPERTY IS LOCATED WITHIN SEVEN MONTHS AFTER THE DATE OF THE TRUSTEE’S SALE A BENEFICIARY’S DECLARATION OF ADDITIONAL FUNDS RECEIVED THAT CONTAINS THE FOLLOWING:
1. THE COUNTY ASSESSOR’S PARCEL NUMBER OR NUMBERS ASSIGNED AS OF THE DATE OF THE TRUSTEE’S SALE.
2. THE NAME AND ADDRESS OF THE BENEFICIARY SUBMITTING THE DECLARATION.
3. THE DATE OF THE TRUSTEE’S SALE.
4. THE HIGHEST BID AMOUNT RECEIVED BY THE TRUSTEE AT THE TRUSTEE’S SALE.
5. THE RECORDING NUMBER OF THE TRUSTEE’S DEED UPON SALE.
6. THE AMOUNT OF ANY ADDITIONAL COMPENSATION RECEIVED BY THE BENEFICIARY WITHIN 6 MONTHS AFTER THE DATE OF THE TRUSTEE’S SALE.
Reletter to conform
Page 4, line 12, after the period strike remainder of line; strike lines 13 and 14
Line 15, strike "trustee" insert "WITHIN SEVEN BUSINESS DAYS AFTER RECEIPT OF PAYMENT BY THE TRUSTEE OR THE TRUSTEE’S AGENT, MADE IN A FORM THAT IS SATISFACTORY TO THE TRUSTEE, THE TRUSTEE SHALL EXECUTE AND SUBMIT THE TRUSTEE’S DEED TO THE COUNTY RECORDER FOR RECORDING AND SHALL, UPON REQUEST, PROVIDE AN UNRECORDED COPY OF THE SIGNED TRUSTEE’S DEED TO THE PURCHASER"; strike "may also" insert "shall"
Page 5, line 13, after the comma strike remainder of line; line 14, strike "LEGAL VALUE" insert "THE TRUSTEE SHALL NOTIFY THE BENEFICIARY OF THE BENEFICIARY’S OBLIGATIONS"
Page 5, line 14, after the period insert "THE TRUSTEE SHALL PROVIDE NOTICE TO THE BENEFICIARY ON OR BEFORE THE DATE OF THE TRUSTEE’S SALE."