Section 26-C2700. SCOPE

 

2700.1Unless specified otherwise, these regulations shall apply to the foreclosure mediation rights and procedures established for the exercise of power of sale of a residential mortgage as authorized in Section 539b of An Act to establish a code of law for the District of Columbia, approved March 3, 1901 (referred to in this chapter as the “Act”) (31 Stat. 1189; D.C. Official Code § 42-815.02)

 

2700.2The Act requires the completion of forms or other documents for certain activities covered by the Act.  Those requirements shall be satisfied solely through the use of forms prescribed or authorized by this chapter and found on the Department of Insurance, Securities and Banking’s (Department) website at http://disb.dc.gov.

 

2700.3These regulations also set forth the procedures for filing an Affidavit of Non-Residential Mortgage Foreclosure in order to issue and record a Notice of Foreclosure for a non-residential mortgage, which does not require the recordation of a Final Mediation Certificate.

 

2700.4These regulations shall not apply to a foreclosure by a condominium association against an owner, or housing cooperative association against a member, when the foreclosure is brought for a reason other than a default on a residential mortgage.

 

 

authority

Section 539b of An Act to establish a code of law for the District of Columbia, approved March 3, 1901 (31 Stat. 1189; D.C. Official Code § 42-815.02(j) (2012 Repl.)), and Mayor’s Order 2011-51, dated March 2, 2011.

source

Emergency and Proposed Rulemaking published at 58 DCR 2958 (April 8, 2011)[EXPIRED]; as amended by Emergency and Proposed Rulemaking published at 58 DCR 8247 (September 23, 2011)[EXPIRED]; as amended by Final Rulemaking published at 58 DCR 11469 (December 30, 2011); as amended by Final Rulemaking published at 61 DCR 6390 (June 27, 2014).