Important Notices

April 13, 2010

Order from the California Commissioner of Financial Institutions

Effective Immediately

Re:  Quarterly Reporting - California Foreclosure Prevention Act (CFPA)

California Code of Regulations Title 10 Section 22031.10 requires every mortgage loan servicer that obtains a final order exempting the servicer from the provisions of subdivision (a) of Section 2923.52, upon request of the Commissioner, to report loan modifications data to the Commissioner on a quarterly basis. 

Pursuant to your exemption to the California Foreclosure Prevention Act, Commissioner Haraf of the Department of Financial Institutions (DFI) directs you to provide loan modification data to DFI on the FORECLOSURE PREVENTION LOAN MODIFICATION report form.  The report must be submitted quarterly within thirty (30) days after the end of each quarter.  The report reflecting First Quarter 2010 data is due April 30, 2010.  This quarterly reporting requirement is ongoing. 

Please be advised that the failure to respond as required by this order may subject your institution to penalties assessed pursuant to Financial Code Section 216.3.

If you have questions regarding this order, please contact Ken Sayre-Peterson, Acting DFI General Counsel, at  KSayre-Peterson@dfi.ca.gov  or (916) 322-1570.      

Respectfully,

William S. Haraf
Commissioner
Department of Financial Institutions