* § 6-o. Single point of contact for modifying delinquent home loans. 1. A lender shall provide to a borrower who is thirty or more days delinquent on his or her home loan with such lender and who chooses to pursue a loan modification or other foreclosure prevention alternative, a single point of contact for the borrower to reach the lender regarding pursuing a loan modification. If at any time the contact information provided to the borrower changes, a notification of such change shall be provided by the lender to the borrower within five business days of such change. The duties imposed on a lender by this section may also be performed by a mortgage servicer acting on behalf of such lender. 2. The single point of contact required by this act shall be responsible for the following:(a) communicating information regarding options the borrower may have for modifying his or her delinquent home loan;
(b) assisting the borrower with identifying documents necessary for pursuing a loan modification; and
(c) providing accurate information regarding the status of a borrower's loan modification application should such borrower choose to apply for a modification. 3. The single point of contact required by this section shall remain assigned to the borrower's account until such time as the lender determines that all loss modification options have been exhausted or until the borrower's account becomes current. 4. For the purposes of this section, "home loan" shall have the same meaning as defined in paragraph (e) of subdivision one of section six-l of this article. 5. The superintendent of financial services is hereby authorized to establish rules and regulations as he or she may deem necessary for the single point contact required by this section. * NB There are 2 § 6-o's
