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 Foreclosure Registry Program

 

FORECLOSURE REGISTRY PROGRAM- 2015 ANNUAL REGISTRATION

The Foreclosure Registry Program requires that any lender (or beneficiary or trustee who holds or has an interest in a deed of trust) of a property in foreclosure located within the City of Los Angeles must register the property with the Los Angeles Housing and Community Investment Department (HCIDLA). Annual (online only) registration along with a fee in the amount of $155 is due to HCIDLA by January 31, 2015. The fee and registration shall be valid for the calendar year, or remaining portion of the calendar year, in which the registration was initially required.

All previously registered properties that remain in the foreclosure process or real estate owned (REO) MUST be re-registered with the HCIDLA in calendar year 2015. Failure to register will result in penalties. If property is no longer subject to the Ordinance, you must de-register online. There are only two valid reasons for de-registration:

  1. Reinstatement of Loan/Loan Modification
  2. Sold to a third party (Non REO)

                ******NEW AMENDMENTS TO ORDINANCE******

On November 14, 2014, the City Council approved an amendment to the Foreclosure Registry (Ordinance No. 183281) that included two new requirements: 1) upon the foreclosure of a residential property, the beneficiary or trustee who acquired the property in foreclosure shall pay a proactive inspection fee in the amount of $356; and 2) for all residential properties registered with the Housing and Community Investment Department (HCID), the beneficiary or trustee responsible for registering the property shall also conduct monthly inspections of the registered property and provide monthly inspection reports to HCID. The monthly inspection reports shall record the date of the monthly inpsection and the condition of the property as observed during that inspection.

  
The Ordinance further states that failure to comply with any registry requirements within 30 days of HCID's notification, including the payment of any fees and satisfaction of inspection and reporting requirements, shall be assessed a penalty in the amount of $250 per day for each day subsequent to such notification until deficiency is cured.
 
 
Monthly Property Inspection
Monthly Inspection reports are to be completed online.
 
Proactive Inspection Fee
A one-time proactive inspection fee in the amount of $356 is due upon status change of property from NOD to REO, or on REO properties if not previously registered, for all single-family and vacant multi-family residential properties.
 
Implementation Date
Implementation of these requirements will take effect on February 1, 2015.
 

***********2015 Free Workshop - Foreclosure Registry Ordinance Amendment (pdf) **************************

 To access online registration, click link to New Online Foreclosure Registration below:
  • Amended Ordinance Orientation pdf
  • Foreclosure Registry Information Bulletin(.pdf)
  • New Foreclosure Registry Program Amended Ordinance -CF 12-0647_ord_183281(pdf)
  • Foreclosure Registry Program Ordinance - CF 09-0365_ord_181185 (.pdf)
  • Foreclosure Registry Program Ordinance Amendment (Elimination of MERS) - CF 12-0647_ ord_181185 (.pdf)   
 

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last changed 4/1/2015
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