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 Amendment
Regulation Status Inactive View Active Rule
Effective 10/20/2011 to 02/12/2014

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 iIndividual Cconsumer Mmortgagors of their default, of the Mmortgagee’s right to foreclose, and the availability of counseling for Mmortgagors 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.