Mortgages and Deeds Legislation - Minnesota

HF 4012 FIRST ENGROSSMENT Minnesota Subprime Foreclosure Extension Act provided. Section 1: Citation language provided. Section 2: Definitions provided. Subdivision 1: Scope Subdivision 2: The act Subdivision 3: Extension payment Subdivision 4: Extension period Subdivision 5: Extension right Subdivision 6: Eligible foreclosed loan Subdivision 7: Eligible foreclosed borrower Subdivision 8: Foreclosing lender Subdivision 9: Minnesota Residential Mortgage Originator and Servicer Licensing Act definitions Section 3: Right to foreclosure extension language provided. Section 4: Affidavit of extension language provided. Subdivision 1: Affidavit of extension Subdivision 2: Service on foreclosing lender Subdivision 3: Acknowledgment by foreclosing lender Subdivision 4: Criminal penalty for knowing misrepresentation Subdivision 5: [...]

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HF 3516 FOURTH ENGROSSMENT Foreclosure information specification provided, report required, and electronic recording provisions provided. ARTICLE 1 -- FORECLOSURE DATA Section 1: Transaction agent definition and language are provided. Section 2: Foreclosure data language is provided. Section 3: Study to develop statewide foreclosure data collection and reporting system language is provided. Subdivision 1. Study Subdivision 2. Working group. Subdivision 3. Report. Subdivision 4. Expiration. Section 4: Effective date is provided. ARTICLE 2 -- ELECTRONIC RECORDING; COMMISSION Section 1: Definitions are provided. Section 2: Uniformity of application and construction language is provided. Section 3: Validity and time of recording of electronic documents language is provided. Section 4: Recording of [...]

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HF 3475 SECOND ENGROSSMENT Foreclosure provisions modified. Section 1: To get tax statements language is modified. Section 2: Limitations language is modified. Section 3: Service on judgment debtor language is modified. Section 4: Certificate of sale of realty language is modified. Section 5: Redemption of realty language is modified. Section 6: Requisites for foreclosure language is modified. Section 7: Foreclosure prevention counseling language is provided. Subdivision 1. Applicability. Subdivision 2. Requirement to provide notice of opportunity for counseling. Subdivision 3. Notification to authorized counseling agency. Subdivision 4. Notice of provision of counseling; request for contact information. Section 8: Forms - Counseling form language is provided. Section 9: Notice of sale; service on occupant language is [...]

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Providing an income tax credit for costs incurred for the rehabilitation of certain certified historic structures located in the Fergus Falls historical zone; providing for a carryback and carryforward of tax liability; requiring pass through of credits granted to partnerships or limited liability companies (LLC) taxed as partnerships or multiple owners of property to the partners, members or owners, authorizing transfer, sale or assignment of the credits and use to offset income taxes imposed; requiring taxpayer application to the state historic preservation office of the Minnesota historical society before beginning the project, requiring the office to determine the amount of eligible rehabilitation costs, eligibility certificate issuance requirement and fee charging authority; authorizing the taxpayers to elect in lieu of the credit to receive a historic rehabilitation mortgage credit certificate, specifying terms [...]

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1E Relating to residential mortgage lending; modifying certain residential mortgage originator and servicer licensing and education requirements; modifying certificate of exemption requirements; modifying certain license application content requirements and specifying certain waiver authority of the commissioner of commerce; increasing certain fees; specifying certain examination powers of the commissioner; providing for certain additional requirements for residential mortgage originators and servicers to discourage predatory lending including determining reasonable ability to pay; prohibiting a loan resulting in negative amortization; prohibiting lenders from arranging residential mortgage loans with a portion of the proceeds put toward a special mortgage; prohibiting residential mortgage fraud, prescribing penalties; extending license renewal dates; repealing a certain provision relating to residential mortgage originators [...]

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Providing an income tax credit for costs incurred for the rehabilitation of certain certified historic structures; providing for a carryback and carryforward of tax liability; requiring pass through of credits granted to partnerships or limited liability companies (LLC) taxed as partnerships or multiple owners of property to the partners, members or owners, authorizing transfer, sale or assignment of the credits and use to offset income taxes imposed; requiring taxpayer application to the state historic preservation office of the Minnesota historical society before beginning the project, requiring the office to determine the amount of eligible rehabilitation costs, eligibility certificate issuance requirement and fee charging authority; authorizing the taxpayers to elect in lieu of the credit to receive a historic rehabilitation mortgage credit certificate, specifying terms and conditions, restricting transfer of the [...]

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