Change of Mortgagee Address
September 10, 2018
Publication| Real Estate Services
On September 4, 2018, Governor John Carney signed into law House Bill No. 353, which amends the legal requirements for a mortgagee to provide public notice of any change in its notice address. Although the legislation, effective when signed, amends the existing law in various respects, the significant changes are as follows:
- A mortgagee may file a single notice of its address change for notice purposes in the county where it has any mortgage; it need not file a separate notification for each mortgage recorded in that county.
- The statutory safe harbor form of
statementof mortgagee address change has been replaced with a statement that each Recorder of Deeds office may promulgate a sample form to be used to file a statement of mortgage address change in that county.
- A mortgagee that fails to file the statement within 60 days of a change in its notice address is subject to a fine of not more than $1,000 and costs of not more $1,000.