D.C. Mun. Regs. tit. 26, r. 26-C2714

Current through Register Vol. 71, No. 49, December 6, 2024

Rule 26-C2714 - INFORMATION REQUIRED FOR MEDIATION

2714.1

The lender shall, at least five (5) business days prior to the first mediation session scheduled by the Mediation Administrator or Mediator, provide an electronic copy at DISB.mediation@dc.gov to the Mediation Administrator, and to each borrower the following, if applicable to the residential mortgage and mediation:

(a) An itemization of the amounts needed to cure and payoff the mortgage;

(b) Payment history records with respect to the mortgage, including all fees and costs;

(c) The result of the lender's loss mitigation analysis;

(d) A copy of the documentation and consideration of the options available in Subsection 2713.2, including the data used in and the outcome of any calculation required; and

2714.2

The lender shall bring to a scheduled mediation the documents required in Subsection 2714.1 and any other information requested by the Mediation Administrator or Mediator.

2714.3

Prior to mediation a borrower shall submit with and attach to the Loss Mitigation Application documents that demonstrate the residential mortgage borrower's household income, including, when applicable, the residential mortgage borrower's most recent tax return, W-2, last two (2) pay stubs, benefit statements, bank statements, and alimony or child support documents. If the requested document(s) is not applicable to the borrower, the borrower must provide a letter explaining why the document is inapplicable.

2714.4

The borrower(s) shall bring to the scheduled mediation the hard copies of all applicable documents required in Subsection 2714.3 and any other information that the Mediation Administrator or Mediator requests.

2714.5

A mediation party shall cooperate with the Mediator to produce the information required by this section in a timely manner so as to permit the mediation process to function effectively.

2714.6

In the event a party to the mediation does not cooperate with the Mediator as required by this section, the Mediation Administrator:

(a) May determine that the party is not participating in mediation in good faith and issue a Preliminary Determination of Bad Faith;

(b) Reschedule the mediation to enable the party to obtain information required by this section; or

(c) Issue a Preliminary Mediation Certificate.

2714.7

A lender or borrower shall provide a written explanation to the Mediation Administrator for the reason(s) that a document or information required in Subsections 2714.1 and 2714.3 is not applicable to the residential mortgage and mediation.

D.C. Mun. Regs. tit. 26, r. 26-C2714

Emergency and Proposed Rulemaking published at 58 DCR 2958 (April 8, 2011)[EXPIRED]; as amended by Emergency and Proposed Rulemaking published at 58 DCR 8247 (September 23, 2011)[EXPIRED]; as amended by Final Rulemaking published at 58 DCR 11469 (December 30, 2011); as amended by Final Rulemaking published at 61 DCR 6390 (June 27, 2014)

Authority: Section 539 b of An Act to establish a code of law for the District of Columbia, approved March 3, 1901 (31 Stat. 1189; D.C. Official Code § 42-815.02(j) (2012 Repl.)), and Mayor's Order 2011-51, dated March 2, 2011.