209 CMR 56.06 - Borrower's Good Faith Response to the Mortgage Loan Modification Notice

A borrower shall be deemed to have made a good faith effort to respond to a creditor's notice of the borrower's right to request a mortgage loan modification if, within 30 days of the creditor's notice being sent, the borrower provides the creditor with the following:

(1) Mortgage Modification Options. A completed Mortgage Modification Options form selecting one of the available loan modification, foreclosure alternative, or waiver options set forth on the form. A borrower that requests a loan modification must also provide a completed loan modification application.

(2) Receipt of Loan Modification Application. A completed loan modification application means an application in connection with which the creditor has received all of the documents and information that the creditor requires from a borrower in evaluating applications for a modified mortgage loan.

(3) Delivery of Mortgage Modification Options Form. A borrower shall deliver the completed Mortgage Modification Options form and, if applicable, a completed loan modification application, to the creditor by:

(a) Hand-delivery; or

(b) First class and certified mail or similar service provided by a private carrier.

(4) Alternate Methods of Delivery of Mortgage Modification Options Form. A borrower may deliver the Mortgage Modification Options form and loan modification application to the creditor by methods other than those set forth in 209 CMR 56.06(3); however, use of any such alternate delivery method is not presumed to notify the creditor absent actual receipt by the creditor.

Notes

209 CMR 56.06

Amended by Mass Register Issue 1328, eff. 12/16/2016.