Legislative Wish List Has Been Drafted

UTA’s Legislative Committee has produced its 2020 Legislative ‘Wish List’ for California.

1. UTA has drafted language providing statutory authority to charge a fee for Notice of Rescission of an NOD in a reinstatement quote. Because it is unclear (Civil Code section 2924c(c)) whether current law authorizes the collection of the estimated recording fees in the reinstatement quote – as they have not yet been ‘incurred’ – this change is necessary to ensure that the estimated recording fee is ‘authorized by law’ as required pursuant to the Fair Debt Collection Practices Act (and the ruling in the Prescott decision)
2. Regarding costs pertaining to the publication of Notices of Trustee’s Sales (California Civil Code2929f(a)(2)), UTA seeks to amend the law in order to remove the requirement of publication in city newspapers, leaving the publication requirement in newspapers of general circulation in the public notice district or county where the property is located. This will address the issue of exorbitant publication costs being charged by many small city newspapers.
3. Last year, UTA helped draft and promote legislation which was signed into law, effective January 1, 2020, that created an express ability for trustees to unilaterally withdraw or resign as trustee without the consent of the beneficiary. UTA will now seek to add language clarifying that when a Trustee resigns, it must give notice to all beneficiaries or their authorized agents at the address shown on the last recorded assignment of deed of trust or substitution of trustee.
4. UTA is seeking to amend Civil Code section 2924j to ensure that the failure of a party to file a surplus fund claim within 30 days will not defeat that party’s rights to be paid from the surplus funds if the surplus funds are subsequently deposited with the Court.
5. UTA is seeking to amend Civil Code Section 2924d (1) to (3), to recite that a rescission of a trustee’s deed shall constitute a privileged communication.
6. UTA proposes to revise Civil Code Section 2924l to confirm that the filing of a declaration of non-monetary status does not trigger an obligation to pay a first appearance fee.