Register O'Donnell Testifies in Support of Mortgage Transparency
Norfolk County Register of Deeds William P. O'Donnell recently traveled to the State House to testify in support of legislation that would promote mortgage transparency for consumers.
Register O'Donnell testified before the legislature's Joint Committee on the Judiciary in support of Senate Bill #960 and House Bill #1413. This legislation is designed to increase mortgage transparency by requiring lending institutions to record mortgage assignments at the relevant Registry of Deeds office within 30 days of execution.
"Passing this legislation into law," noted the Register, "guarantees that a homeowner would know when a third party has been assigned their residential mortgage, (usually sold by one financial institution to another), since the mortgage assignment would be forwarded to the appropriate Registry of Deeds office for recording. Additionally, consumers facing foreclosure or looking to record a mortgage discharge would benefit as the legislation provides a permanent source of reference for the homeowner. They could even view the transaction online at the appropriate Registry of Deeds."
Register O'Donnell concluded, "I am hopeful the Joint Committee on the Judiciary will report the legislation favorably from committee. This legislation benefits homeowners across Massachusetts as it will eliminate uncertainty as to which lending institution is the mortgage holder of record."
To learn more about these and other Registry of Deeds events and initiatives, like us at facebook.com/NorfolkDeeds or follow us on twitter.com/NorfolkDeeds and/or Instagram.com/NorfolkDeeds.
The Norfolk County Registry of Deeds is located at 649 High Street in Dedham. The Registry is a resource for homeowners, title examiners, mortgage lenders, municipalities and others with a need for secure, accurate, accessible land record information. All land record research information can be found on the Registry's website www.norfolkdeeds.org. Residents in need of assistance can contact the Registry of Deeds Customer Service Center via telephone at (781) 461-6101, or email us at registerodonnell@norfolkdeeds.org.
Register William P. O'Donnell
Norfolk County Registry of Deeds
phone: 781-234-3336
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