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“RI Department of Business Regulation issues 45-Day Notice Regulation”

The Rhode Island Department of Business Regulation ("DBR") has now promulgated Emergency Banking Regulation 5 entitled "Mortgage Foreclosure Disclosure".

February 2010

The Rhode Island Department of Business Regulation ("DBR") has now promulgated Emergency Banking Regulation 5 entitled "Mortgage Foreclosure Disclosure". This addresses new requirements for the 45-day notice to individual consumer mortgagors prior to initiating foreclosure.

DBR has included a form of 45-day Notice; however, DBR notes that it has not yet provided a Spanish translation as required under the new statute. We will provide one as soon as possible.

Click here for the Regulation and Notice

Please contact Charles A. Lovell at cal@psh.com for questions you may have regarding incorporating these requirements into your foreclosure process.

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