(c) In the event that a debtor submits a complete application to have an initial lien loan mod offered by, or because of, new borrower’s home loan servicer, a mortgage servicer, mortgagee, trustee, recipient, otherwise authorized representative will perhaps not checklist a notification off default or notice regarding income, or conduct a good trustee’s revenue, while the over very first lien loan modification software program is pending. A mortgage servicer, mortgagee, trustee, recipient, otherwise subscribed broker will perhaps not record a notification out-of default or find regarding business or carry out a good trustee’s purchases up until any one of next happens:
(1) The borrowed funds servicer helps make an authored determination that the debtor try maybe not qualified to receive an initial lien mortgage loan modification, and you will people focus period pursuant so you’re able to subdivision (d) keeps expired.
(d) If the borrower’s software for a primary lien loan modification is rejected, this new borrower should possess no less than a month about go out of one’s composed assertion so you can appeal this new denial also to give evidence your home loan servicer’s devotion was a student in mistake.
(e) In the event your borrower’s app to have a first lien mortgage loan modification are rejected, the borrowed funds servicer, mortgagee, trustee, recipient, otherwise authorized representative will maybe not list a notice off default otherwise, when the an alerts out of standard has already been submitted, record a notification out of income or carry out an effective trustee’s sales until the brand new afterwards away from: