Bill > S1043

This bill aims to protect titles to real estate in Massachusetts. Key provisions include: - Requiring specific formatting and information on instruments recorded in the registry of deeds, such as the type of instrument and dates related to the mortgagee, note owner, and servicer. - Establishing time limits for recording assignments of mortgages, foreclosure deeds, and other documents to ensure timely recordation. - Requiring mortgage statements to include contact information for the current mortgagee, note owner, and servicer, and making noncompliance an unfair or deceptive practice. - Repealing the ability to foreclose by entry and possession, and requiring foreclosures to be done through the courts. - Increasing penalties for making false or fraudulent statements related to mortgage loans and real estate transactions, including potential restitution and business prohibitions. - Requiring prominent display of criminal liability provisions related to false documents at registries of deeds and e-recording service providers. The overall goal is to bring more transparency and accountability to real estate transactions and the mortgage process in Massachusetts.

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https://malegislature.gov/Bills/193/S1043