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Register O’Donnell announces filing of residential mortgage bill
COURTESY OF THE NORFOLK COUNTY REGISTRY OF DEEDS
Norfolk County Register of Deeds William P. O’Donnell recently announced the filing of two bills designed to promote mortgage transparency in Massachusetts.
For the upcoming legislative session Sen. John Keenan, D-Quincy, filed legislation in the Massachusetts State Senate which was given Senate Docket No. 493 while in the State House of Representatives, Rep. William Galvin, D-Canton, filed legislation that was given House Docket No. 991.
O’Donnell stated that both pieces of legislation would require that when banks transfer or assign their residential mortgages to a different lending institution then that assignment would be required to be recorded with the relevant Massachusetts Registry of Deeds office within 30 days of its execution.