BILL NUMBER: AB 2236	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Monning

                        FEBRUARY 18, 2010

   An act to add Section 2923.2 to the Civil Code, relating to
mortgages.



	LEGISLATIVE COUNSEL'S DIGEST


   AB 2236, as introduced, Monning. Mortgages: notices to the
borrower.
   Existing state and federal laws govern the rights and obligations
of borrowers and mortgagees, trustees, and beneficiaries with respect
to loans secured by residential real property. Federal law also
establishes a specified home loan modification program.
   This bill would require a mortgagee, trustee, or beneficiary, or
an authorized agent of that person, to include on all notices
informing a borrower that he or she has either failed to make a
required minimum payment or failed to make a payment when due, the
name and the contact information, including the address and telephone
number, of the mortgagee, trustee, beneficiary, or authorized agent
who has the authority pursuant to state and federal law to modify the
terms and conditions of the borrower's loan.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 2923.2 is added to the Civil Code, to read:
   2923.2.  A mortgagee, trustee, or beneficiary, or an authorized
agent of that person, shall include on all notices informing a
borrower that he or she has either failed to make a required minimum
payment or failed to make a payment when due, the name and the
contact information, including the address and telephone number, of
the mortgagee, trustee, beneficiary, or authorized agent who has the
authority pursuant to state and federal law to modify the terms and
conditions of the borrower's loan.