§ 14A — Foreclosure database; annual report on developments and trends in residential property foreclosures

Massachusetts § 14A

• Jurisdiction: Massachusetts
• Part III: COURTS, JUDICIAL OFFICERS AND PROCEEDINGS IN CIVIL CASES
• Title III: REMEDIES RELATING TO REAL PROPERTY
• Ch. 244: FORECLOSURE AND REDEMPTION OF MORTGAGES

Text

Section 14A. The commissioner of the division of banks, hereinafter referred to as the commissioner, shall maintain a foreclosure database that shall include, but not be limited to, foreclosure activity by mortgage lenders, mortgage holders and mortgage servicers, as well as the mortgage brokers and loan originators who placed these mortgage loans in the commonwealth, including information relative to the original mortgagee and any subsequent assignee. Based on the information received, the commissioner shall produce a report, at least annually, to track developments and trends of mortgage foreclosures on residential property in the commonwealth including, but not limited to, an analysis of the pre-foreclosure notices submitted to the commissioner compared to the final foreclosure notices, and any trends or patterns relative to the geographic location of the residential properties and interest rates. The report shall be available to the public upon request, and the commissioner shall make it available in any other manner that he may choose.