H. B. 3082
(By Delegates Moore, Webster, Shook, Caputo,
Barker, Fleischauer, Fragale, Miley,
Marshall and Perry)
[Introduced March 12, 2009; referred to the
Committee on Political Subdivisions then the Judiciary.]
A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new section, designated §31A-2-4c; to amend
said code by adding thereto a new section, designated
§38-1-8a; to amend said code by adding thereto a new section,
designated §44-13-4a; and to amend and reenact §59-1-10 of
said code, all relating to the gathering and reporting of
foreclosure data and statistics; providing for the gathering
and reporting of information pertaining to sales of
residential real estate pursuant to deeds of trust; providing
for the compilation and filing of data by trustees with the
report of sales filed with the county clerks; providing for
the periodic forwarding of gathered information to the
Commissioner of Banking; identifying the minimum information
to be provided; providing for fees to be paid for receipt and
processing of the filed information; providing for the
reporting of foreclosure statistics by the Commissioner of Banking; authorizing the Commissioner of Banking to establish
appropriate forms and filing requirements and procedures by
rule.
Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended
by adding thereto a new section, designated §31A-2-4c; that said
code be amended by adding thereto a new section, designated
§38-1-8a; that said code be amended by adding thereto a new
section, designated §44-13-4a; and that §59-1-10 of said code be
amended and reenacted, all to read as follows:
CHAPTER 31A. BANKS AND BANKING.
ARTICLE 2. DIVISION OF BANKING.
§31A-2-4c. Commissioner to receive and compile data.
(a) In addition to the jurisdiction, powers and duties set
forth in section four of this article, the commissioner has the
authority to receive, compile and make available the data that is
required to be reported by trustees to county clerks pursuant to
section eight-a, article one, chapter thirty-eight of this code.
The commissioner may promulgate rules, in accordance with article
three, chapter twenty-nine-a of this code, to carry out the
requirements of this section. The commissioner is authorized to
expend funds for this purpose.
CHAPTER 38. LIENS.
ARTICLE 1. VENDOR'S AND TRUST DEED LIENS.
§38-1-8a. Reports by trustee to county clerk; additional
information to be filed with report of sale.
(a) This section applies to deeds of trust if the property
conveyed therein includes real property that is occupied, or is
intended to be occupied as a residence by the grantor at time the
deed of trust is executed and delivered.
(b) Beginning July 1, 2009, when a trustee returns a report of
sale of property sold to be placed of record with the clerk of the
county, as provided in section eight of this article, the trustee
shall include, at a minimum, the following information on a
disclosure form that is to be submitted with and made a part of the
report of sale:
(1) Name of the grantor of real property subject to deed of
trust;
(2) Street address, city, state and zip code of real property
subject to the trust;
(3) Original trustee name;
(4) Substitute trustee name, if any, and date of appointment;
(5) The address, telephone number and electronic contact
information for the trustee making the sale;
(6) Date, time and place advertised for sale;
(7) Name of original secured lender;
(8) Name and address of the current holder of deed of trust;
(9) Original principal amount of the secured debt;
(10) Original interest rate;
(11) Whether the loan was adjustable and, if so, the current
rate;
(12) Estimated current value of property;
(13) Unpaid balance of loan at time of sale;
(14) The number of months the loan has been delinquent at time
of notice of sale;
(15) The date and time of sale;
(16) The name of the purchaser;
(17) The amount received from the sale;
(18) The balance applied to the loan;
(19) The date the report of sale is recorded; and
(20) Any other information the Commissioner of Banking may
require by rule.
(c) The report required by this section may be made
electronically. The Commissioner of Banking shall publish a
disclosure form for setting out the information required by
subsection (b) and instructions as to how the required information
is to be filed with the report of sale.
(d) Failure to comply with this the provisions of this section
does not affect the validity of the sale or the title to the
property.
CHAPTER 44. ADMINISTRATION OF ESTATES AND TRUSTS.
ARTICLE 13. POWERS AND DUTIES OF CLERKS OF
COUNTY COURTS IN COUNTIES HAVING SEPARATE TRIBUNAL FOR POLICE AND
FISCAL PURPOSES.
§44-13-4a. Reporting of foreclosure statistics.
(a) Beginning with the third quarter of 2009, the clerk of
each county shall file quarterly reports with the Division of
Banking regarding the total number of residential mortgage
foreclosure sales that were recorded in that county for the
preceding calendar year quarter of each report. The reports shall
be filed on or before October 15, January 15, April 15 and July 15
of each year. The reports shall be filed in electronic form, where
possible, and shall provide information as may be required by the
Commissioner of Banking including, at a minimum:
(1) Name or names of the grantor of real property subject to
deed of trust;
(2) Street address, city, state and zip code of real property
subject to the trust;
(3) Original trustee name;
(4) Substitute trustee name, if any, and date of appointment;
(5) The address, telephone number and electronic contact
information for the trustee making the sale;
(6) Date, time and place advertised for sale;
(7) Name of original secured lender;
(8) Name and address of the current holder of deed of trust;
(9) Original principal amount of the secured debt;
(10) Original interest rate;
(11) Whether the loan was adjustable and if so current rate;
(12) Estimated current value of property;
(13) Unpaid balance of loan at time of sale;
(14) The number of months the loan has been delinquent at time
of notice of sale;
(15) The date and time of sale;
(16) The name of the purchaser;
(17) The amount received from the sale;
(18) The balance applied to the loan;
(19) The date the report of sale is recorded; and
(20) Any other information the Banking Commissioner may
require by rule.
(b) The county clerk shall collect from a foreclosure trustee
an additional fee of $30 when a foreclosure report of sale is
filed, as provided in section ten, article one, chapter fifty-nine
of this code, and shall retain $10 of that fee to cover expenses
related to the reporting required in subsection (a) of this
section. The clerk shall remit the remaining $20 to the Division
of Banking to cover its expenses in aggregating, collecting and
publishing the data.
(c) Notwithstanding any other provision of this code, nothing
in this section shall be deemed to create a responsibility by the
Commissioner of Banking to provide any report other than data submitted from each county clerk or to verify the accuracy of the
data submitted.
CHAPTER 59. FEES, ALLOWANCES AND COSTS;
NEWSPAPERS; LEGAL ADVERTISEMENTS.
ARTICLE 1. FEES AND ALLOWANCES.
§59-1-10. Fees to be charged by clerk of county commission.
For the purpose of this section, the word "page" is defined as
being a paper or electronic writing of not more than legal size, 8
½" x 14".
The clerk of the county commission shall charge and collect
the following fees:
(a) When a writing is admitted to record, for receiving proof
of acknowledgment thereof, entering an order in connection
therewith, endorsing clerk's certificate of recordation thereon and
indexing in a proper index, where the writing is a:
(1) Deed of conveyance (with or without a plat), trust deed,
fixture filing or security agreement concerning real estate lease,
$15.
(2) A recording fee of $30 shall be assessed for a trustee's
report of sale, with $10 to be retained by the county clerk for its
operations and $20 being transferred to the State Treasurer, on a
quarterly basis, and deposited in the Banking Commissioner's fund.
(2) (3) Financing, continuation, termination or other
statement or writing permitted to be filed under chapter forty-six of this code, $10.
(3) (4) Plat or map (with no deed of conveyance), $10.
(4) (5) Service discharge record, no charge.
(5) (6) Any document or writing other than those referenced in
subdivisions (1), (2), (3),
and (4)
and (5) of this subsection,
$10.
(6) (7) If any document or writing contains more than five
pages, for each additional page, $1.
For any of the documents admitted to record pursuant to this
subsection, if the clerk of the county commission has the
technology available to receive these documents in electronic form
or other media, the clerk shall set a reasonable fee to record
these writings not to exceed the cost for filing paper documents.
(7) (8) Eleven dollars of each recording fee received pursuant
to subdivision (1) of this subsection shall be retained by the
county clerk for the operation of that office and $4 of each of the
aforesaid recording fees together with $5 of the recording fee
collected pursuant to subdivision
(5) (6) of this section, shall be
paid by the county clerk into the State Treasurer and deposited in
equal amounts for deposit into the Farmland Protection Fund created
in article twelve, chapter eight-a of this code for the benefit of
the West Virginia Agricultural Land Protection Authority and into
the Outdoor Heritage Conservation Fund created in article two-g,
chapter five-b of this code:
Provided, That the funds deposited pursuant to this subdivision may only be used for costs, excluding
personnel costs, associated with purpose of land conservation, as
defined in subsection (f), section seven, article two-g, chapter
five-b of this code.
(b) For administering any oath other than oaths by officers
and employees of the state, political subdivisions of the state or
a public or quasi-public entity of the state or a political
subdivision of the state, taken in his or her official capacity,
$5.
(c) For issuance of marriage license and other duties
pertaining to the marriage license (including preparation of the
application, administrating the oath, registering and recording the
license, mailing acknowledgment of minister's return to one of the
licensees and notification to a licensee after sixty days of the
nonreceipt of the minister's return), $35.
(1) One dollar of the marriage license fee received pursuant
to this subsection shall be paid by the county clerk into the State
Treasury as a state registration fee in the same manner that
license taxes are paid into the Treasury under article twelve,
chapter eleven of this code;
(2) Fifteen dollars of the marriage license fee received
pursuant to this subsection shall be paid by the county clerk into
the State Treasury for the Family Protection Shelter Support Act in
the same manner that license taxes are paid into the Treasury under article twelve, chapter eleven of this code;
(3) Ten dollars of the marriage license fee received pursuant
to this subsection shall be deposited in the Courthouse Facilities
Improvement Fund created by section six, article twenty-six,
chapter twenty-nine of this code.
(d) (1) For a copy of any writing or document, if it is not
otherwise provided for, $1.50.
(2) If the copy of the writing or document contains more than
two pages, for each additional page, $1.
(3) For annexing the seal of the commission or clerk to any
paper, $1.
(4) For a certified copy of a birth certificate, death
certificate or marriage license, $5.
(e) For copies of any record in electronic form or a medium
other than paper, a reasonable fee set by the clerk of the county
commission not to exceed the costs associated with document search
and duplication.
NOTE: The purpose of this bill is to require trustees
foreclosing upon owner occupied, residential property to report
foreclosure data to clerks of the county courts as a part of the
information to be submitted with the trustee's report of sale, and
to require the clerks of the county commission to file quarterly
reports regarding foreclosed properties with the Banking
Commissioner. The fee for recording a trustee's report of sale is
$30, with $10 retained by the county clerk and $20 going to the
Banking Commissioner to finance the program.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would be added.
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