Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Board passes first reading of ordinance to regulate mortgage modification consultants
Summary
Supervisors moved an ordinance to regulate mortgage modification consultants, requiring written contracts, defined tangible benefits, creating private cause of action and misdemeanor penalties; passed on first reading.
The Board of Supervisors on Tuesday advanced an ordinance designed to regulate mortgage modification consultants who charge homeowners upfront fees to negotiate loan modifications. The ordinance passed on first reading under the board's consent practice.
Sponsor Supervisor Campos described the measure as closing a loophole that allows consultants to charge vulnerable homeowners hundreds or thousands of dollars…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
