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Surplus Funds Fraud and Best Practices ‘Hybrid’ Event Held

Edward A. Treder, Esq.

UTA’s Dinner on Surplus Funds Fraud and Best Practices dinner event had 22 in-person attendees and 28 online registered attendees who participated via Zoom. The panel was Jonathan Fink, Esq., Wright Finlay & Zak; Edward A. Treder, Esq., Barrett Daffin Frappier Treder & Weiss, LLP; and John Steele, Esq., Steele, LLP. The panel addressed Civil Code § 2924j(a)’s notice and claim requirements, compliance, and procedure, Civil Code § 2924k’s order of priority for distribution of sale proceeds, surplus recovery scams that circumvent protections for vulnerable borrowers under the foreclosure consultant statutes, best practices that trustees can implement to enhance their due diligence, and UTA’s legislative efforts to impose a 90-day waiting period after a sale to deter would-be scammers from soliciting homeowners before they receive notices and claim forms from trustees.

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