These rules set forth the minimum requirements for a servicer’s loan modification program to obtain

INVITATION FOR COMMENTS DRAFT CALIFORNIA FORECLOSURE PREVENTION ACT REGULATIONS (Corporations, Financial Institutions, Real Estate) I. REQUIREMENTS (a) These rules set forth the minimum requirements for a comprehensive loan modification program under Civil Code Section 2923.53, in order for a residential mortgage loan servicer to be exempted from the provisions of Civil Code Section 2923.52. (b) The modification of loans in conformance with the Home Affordable Modification Program Guidelines issued by the Department of the Treasury on March 4, 2009, (the “Guidelines”) and hereby incorporated by reference, shall constitute the implementation of a comprehensive loan modification program that meets the requirements of subdivision (a) of Civil Code Section 2923.53. All other comprehensive loan modification programs shall comply with the minimum standards in this section to obtain an order from the Commissioner for exemption from the provisions of Civil Code Section 2923.52. A. ELIGIBILITY (a) For an applicant to be exempt from the provisions of Civil Code Section 2923.52, the comprehensive loan modification program shall, at a minimum, be available for borrowers and residential mortgage loans meeting the following requirements: 1) The residential mortgage loan to be modified was recorded during the period of January 1, 2003 to January 1, 2008. 2) The borrower occupies the property as his or her principal residence, and occupied the ...