Enacts the "deed protection act"

Summary

The bill adds a new provision to the state's banking law that bars mortgage lenders and servicers from starting or continuing a foreclosure when the loan is secured by a deed or title obtained through fraud, forgery, or other illegal means. It requires lenders to review loan documents and title records to confirm a valid ownership interest before filing foreclosure, and any violation is treated as a breach of the law. The measure becomes effective immediately.

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