Pending Pennsylvania Legislation May Cause Concern For Foreclosing Lenders, Servicers

In Pennsylvania, DSNews.com reports:

• A Philadelphia attorney says a piece of legislation that made it through the state House in April could significantly impact the way servicers and lenders do business in Pennsylvania. Michael McKeever, with the law firm of Goldbeck, McCafferty & McKeever, issued an advisory to inform attorneys and lenders about some of the changes that would result if a series of five house bills make it into law—specifically House Bill (H.B.) 1083 [go here for bill information]. McKeever told DSNews.com that H.B. 1083 has "two features that will impact the foreclosure process."

For more, including consequences to mortgage servicers for improper application of payments under HEMAP homeowner assistance loans, see Pending Legislation May Impact Pennsylvania Default Attorneys/Lenders.