1st Sub.
H.B.
404
SHORT SALE AMENDMENTS
Senate Floor
Amendments
Amendment 1 March 14, 2013 8:45 AM
Senator Curtis S. Bramble
proposes the following amendments:
1. Page
1, Lines 12 through 16
:
12
This bill:
13
.
{
modifies provisions related to the reconveyance of a trust deed or release of a
14
mortgage to include satisfaction
}
provides that a title insurer or a title agent may reconvey a trust
deed or release a mortgage if the beneficiary, mortgagee, or servicer agrees that partial payment
of the
obligation secured by the trust deed or
by
the
15
mortgage
{
makes a trust deed eligible for reconveyance or a
16
mortgage eligible for release
}
is sufficient to reconvey the trust deed or to release the mortgage
;
and
2. Page
2, Lines 38 through 39
:
38
sufficient to
{
satisfy the obligation and obtain a
}
release
{
of
}
the mortgage or
{
reconveyance
of
}
reconvey
the
39
trust deed; or
3. Page
3, Lines 74 through 75
:
74
amount agreed to by the beneficiary, mortgagee, or servicer as sufficient to
{
satisfy the
75
obligation and obtain a
}
release
{
of
}
the mortgage or
{
reconveyance of
}
reconvey
the trust
deed.
4. Page
3, Lines 79 through 80
:
79
mortgage has not been paid in full [or that you otherwise object], that
{
satisfaction in
}
payment of
an amount
80
less than the whole obligation was not agreed to or was not received by the beneficiary,
5. Page
4, Lines 91 through 92
:
91
{
satisfaction in
}
payment of
an amount less than the whole obligation was not agreed to or was not
received
92
by the beneficiary, mortgagee, or servicer, or that the beneficiary, mortgagee, or servicer
6. Page
4, Line 109
:
109
the beneficiary or servicer as sufficient to
{
satisfy the obligation
}
reconvey the trust deed
;
7. Page
4, Lines 113 through 114
:
113
trust deed in an amount agreed to by the beneficiary or servicer as sufficient to
{
satisfy the
114
obligation
}
reconvey the trust deed
.
8. Page
5, Lines 121 through 122
:
121
that the obligation secured by the trust deed has not been paid in full, that
{
satisfaction in
}
payment
of
an
122
amount less than the whole obligation secured by the trust deed was not agreed to or was not
9. Page
5, Line 140
:
140
the mortgagee or servicer as sufficient to
{
satisfy the obligation
}
release the mortgage
;
10. Page
5, Lines 144 through 145
:
144
mortgage in an amount agreed to by the mortgagee or servicer as sufficient to
{
satisfy the
145
obligation
}
release the mortgage
.
11. Page
6, Lines 152 through 153
:
152
that the obligation secured by the mortgage has not been paid in full, that
{
satisfaction in
}
payment
of
an
153
amount less than the whole obligation secured by the mortgage was not agreed to or was not
12. Page
6, Lines 178 through 179
:
178
(2)
{
satisfaction in
}
payment of
an amount less than the whole obligation was not agreed to
or was
179
not received by the beneficiary, mortgagee, or servicer; or
13. Page
7, Lines 187 through 188
:
187
(1) the obligation secured by the trust deed or mortgage
{
has
}
:
188
(a)
has
not been fully paid; [and] or
14. Page
7, Line 190
:
190
servicer as sufficient to
{
satisfy the obligation
}
release the mortgage or reconvey the trust deed
;
and
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cgilbert
B 03/14/13 8:37a