Md. Code Regs. 09.03.12.08

Current through Register Vol. 51, No. 12, June 14, 2024

Section 09.03.12.08 - Postfile Foreclosure Mediation

A. Subject to §B of this regulation, a request for postfile mediation required by Real Property Article, § 7-105.1(h)(4), Annotated Code of Maryland, and this chapter shall be in a form substantially similar to that in Appendix F of this regulation.

B. The secured party, or representative of the secured party, shall include all information required in the form provided for under §A of this regulation in the spaces indicated by blank lines.

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C. Good Faith and Fair Dealing. The secured party, or any representative of the secured party, has a duty of good faith and fair dealing in its participation at a postfile foreclosure mediation, including, but not limited to:

(1) Providing the borrower with an accurate accounting of the debt owed;

(2) Making the borrower aware of all loss mitigation options and services offered by the secured party; and

(3) Pursuing loss mitigation when reasonably possible

Md. Code Regs. 09.03.12.08

Regulations .08 adopted as an emergency provision effective October 25, 2011 (38:23 Md. R. 1416); emergency provision extended to July 30, 2012 (39:3 Md. R. 256); emergency provision extended to January 15, 2013 (39:15 Md. R. 961); emergency provision expired October 1, 2012 (39:21 Md. R. 1376)
Regulations .08 adopted as an emergency provision effective October 1, 2012 (39:21 Md. R. 1376); adopted permanently effective January 7, 2013 (39:26 Md. R. 1663); amended effective 44:22 Md. R. 1037, eff. 11/6/2017; amended effective 45:14 Md. R. 695, eff. 7/16/2018; amended and recodified from .05 effective 49:26 Md. R. 1078, eff. 3/1/2023