COMMITTEE SUBSTITUTE
FOR
H. B. 3082
(By Delegates Moore, Webster, Shook, Caputo,
Barker, Fleischauer, Fragale, Miley,
Marshall and Perry)
(Originating in the Committee on the Judiciary)
(March 24, 2009)
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. County Clerk to file reports of trustees regarding
sales of residential real property pursuant to deeds of trust
and forward to the banking commissioner.
(a) In addition to the jurisdiction, powers, and duties set
out in section four of this article, the banking commissioner is
vested with the jurisdiction, powers and duties to receive and
compile the data into an electronic data base and make available
the raw data that is required to be reported by trustees to county
clerks pursuant to chapter thirty-eight, article one, section four-
b of the Code of West Virginia. The commissioner has the power to
promulgate rules in accordance with this section and the provisions
of article three, chapter twenty-nine-a of this code in order 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 report of the sale of the
property sold pursuant to a deed of trust is placed of record by
the trustee with the clerk of the county commission as provided in
section eight of this article, the trustee shall include the
following information on a disclosure form submitted with and made
a part of the report of sale:
(1) Name or names of the grantor of the 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) Current holder of deed of trust, and the current holder's
address;
(9) Original principal amount of the secured debt;
(10) Original interest rate;
(11) Whether the loan was adjustable and if so current rate;
(12) Total secured indebtedness at time of sale;
(13) The number of months the loan is delinquent at time of
notice of sale; and
(14) The date, time and place of sale;
(15) The name of the purchaser;
(16) The appraised value at the time of loan, if available;
(17) The net amount applied to the secured loan;
(18) The date the report of sale is recorded and,
(19) Any other information the banking commissioner may
require by rule.
(c) The commissioner of banking shall publish a form setting
out the information required by subsection (b) and instructions as
to how this information is to be filed with the report of sale.
(d) 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 the
compiled raw data submitted from each county clerk or to verify the
accuracy of the data submitted. The banking commissioner shall
compile the data monthly.
(e) Failure to comply with this the provisions of this section
shall not affect the validity of the sale or the title to the
property sold by the trustee.
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 commission shall file quarterly with the Division of
Banking the disclosure forms of deed of trust foreclosure sales
that were recorded in that county for the preceding calendar year
quarter. The reports shall be filed within fifteen days of the
last day of September, December, March and June of each year. The
reports shall be filed in electronic format, where possible.
(b) Notwithstanding any other provision of this code, nothing
in this section shall be deemed to create a responsibility on the
division of banking to provide any report other than the complied
raw 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,
fifteen dollars.
(2) Trustee's report of sale for any property for which
additional information and filing requirements are required by
section eight-a, article 1, chapter thirty-eight of this code, $40,
provided that $20 dollars of each recording fee received pursuant
to this subdivision shall be deposited into the county's general
revenue fund and $20 dollars of each of the aforesaid recording
fees shall be paid by the county clerk to the State Treasurer
quarterly and deposited in the banking commissioner's fund to cover
its expenses in aggregating, collecting and publishing the data.
(2) (3) Financing, continuation, termination or other
statement or writing permitted to be filed under chapter forty-six
of this code, ten dollars.
(3) (4) Plat or map (with no deed of conveyance), $10 dollars.
(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, one dollar.
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) $11 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) 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) $1 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) $15 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) $10 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, one dollar fifty cents.
(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, one dollar.
(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.