On June 30, 2020 Gov. Kate Brown (D) signed into law OR HB 4204 (2020), which “establishes temporary limitations on lenders being able to enforce default remedies on obligations secured by mortgages, trust deeds, land sale contracts or other instruments.”
Of particular interest is Subsection 1(9), which requires the following:
“Within 60 days following the effective date of this 2020 special session Act [August 29, 2020], each lender authorized to do business in this state must provide written notice by mail to all of the lender’s borrowers of a borrower’s rights for accommodation under this section.”
We are currently reviewing this announcement to determine any impact, and evaluating any modifications, to our document library and/or systems. Any modifications we make as a result will be announced on our website (https://compliance.docutech.com/).