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California law brings new foreclosure requirements
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Legislative Developments
Monday, October 8, 2018
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California Gov. Jerry Brown recently signed into law a bill which provides requirements to be satisfied before the exercise of a power of sale under a mortgage or deed of trust in connection with foreclosure.
The bill, SB 818, was sponsored by state Sen. Jim Beall (D-15) and passed the Assembly and Senate by unanimous votes.
Among the provisions is a liability to borrowers for material violations of the provisions which would permit a court to award the greater of treble actual damages or specified statutory damages in cases of intention or reckless violations. Read on for more.
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