BANKING REGULATION 5 MORTGAGE FORECLOSURE DISCLOSURE


230-RICR-40-10-4 INACTIVE RULE

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Title 230 Department of Business Regulation (includes the Office of the Health Insurance Commissioner)
Chapter 40 Banking
Subchapter 10 Lending
Part 4 BANKING REGULATION 5 MORTGAGE FORECLOSURE DISCLOSURE
Type of Filing Adoption
Regulation Status Inactive View Active Rule
Effective 08/26/2010 to 10/20/2011

Regulation Authority :

R.I. Gen. Laws §§ 35-27-3.1, 42-14-17 and 42-35-3

Purpose and Reason :

The purpose of this Regulation is to promulgate the form of written notice pursuant to R.I. Gen. Laws § 34-27-3.1. The notice implemented by this Regulation informs individual consumer mortgagors of their default, of the mortgagee’s right to foreclose, and the availability of counseling for mortgagors through HUD-approved counseling agencies in Rhode Island. This Regulation also clarifies the Mortgagee’s duties and consequences of its failure to comply with R.I. Gen. Laws § 34-27-3.1 and this Regulation.

There are no electronic rulemaking documents for rules filed prior to August 14, 2018. For rulemaking documents for rules filed prior to this date, please contact the appropriate agency's Rules Coordinator.