Delaware Amends Provisions Regarding Mortgagee Address Changes

Delaware Governor John Carney recently signed into law amendments to the requirements for mortgagees to provide public notice of changes in their notice address.

The amendments under Delaware House Bill No. 353 include:

• A mortgagee may file a single notice of its address change for notice purposes in the county where it has any mortgage, such that it need not file a separate notification for each mortgage recorded in that county;
• The statutory safe harbor form of statement of mortgagee address change has been replaced with a provision granting each Recorder of Deeds office the authority to promulgate a sample form to be used to file a statement of mortgage address change in that county; and
• A mortgagee that fails to file the statement within 60 days of a change in its notice address is subject to a fine of not more than $1,000 and costs of not more $1,000.

The bill, which went into effect on September 4, 2018, can be found here.