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House adopts lender 'single point of contact' requirement in foreclosure process
Summary
Third-substitute HB 164 requires lenders to identify an authorized representative during the 90-day nonjudicial foreclosure period and clarifies that postponing a sale need not restart the 90-day process; sponsor and lenders said language resulted from two years of stakeholder collaboration.
The Utah House passed third-substitute House Bill 164 on Feb. 28, adopting measures aimed at clarifying the nonjudicial foreclosure process. Representative Levar Christiansen, sponsor of HB 164, said the substitute reflects two years of work and lender input and requires lenders to identify an authorized representative to communicate with homeowners during the statutorily provided 90-day period.
"It just requires the…
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