Concepts for discussion at 8/22/08 meeting
	Process	Statute		Problems/Requests	Possible Solutions	Suggested Language
1	Commence Foreclosure	38-38-101	b	If supplemental list is filed late, the sale must be withdrawn & the process is cumbersome	Change initial to just a mailing list and allow for filing of amended lists at least 65 days prior to sale	38-38-101(1)(e) An initial A mailing list containing the names and addresses of the persons listed in section 38-38-103 (1) (a) (I);                                     (f) IF ADDITIONAL PERSONS ARE IDENTIFIED PURSUANT TO SECTION 38-38-103 (1) (a) (II), AN AMENDED MAILING LIST CONTAINING THE NAMES AND ADDRESSES OF THOSE PERSONS SHALL BE SUBMITTED NO less than sixty-FIVE calendar days prior to the first scheduled ACTUAL sale date , a supplemental mailing list containing the names and addresses of the persons listed in section 38-38-103 (1) (a) (II).
			g	NEW -The PT no longer is able to identify the current owner	Require a "statement" from the holder or their attorney of the current owner name and address	38-38-101 (1) (g) A STATEMENT EXECUTED BY THE HOLDER OF THE EVIDENCE OF DEBT SECURED BY SUCH DEED OF TRUST, OR THE ATTORNEY FOR SUCH HOLDER, WHICH STATES TO THE BEST OF THE KNOWLEDGE OF THE PERSON EXECUTING SUCH STATEMENT THE NAME AND ADDRESS OF THE CURRENT OWNER OF THE PROPERTY DESCRIBED IN THE NOTICE OF ELECTION AND DEMAND FOR SALE;
2	Combined Notice	38-38-103	b	An amended mailing list should be mailed 45 - 60 days prior to the actual sale	Change reference to the mailing list and the amended list. (Also need to change the Mailing List definition)	38-38-103(1)(a)(II) No more than sixty calendar days nor less than forty-five calendar days prior to the first scheduled date of sale, to the following persons as set forth in the MAILING LIST, supplemental, or amended mailing list:
			h	Officer should not have to review ALL publications	Change "all such" to "the"          TABLED - Should Atty do pubs?	38-38-103(5)(b) The officer shall review all such publications THE PUBLICATION of the combined notice for accuracy.
3	Cure of Default	38-38-104	d	Allow for a late filing of an intent to cure	Add a new subsection 38-38-103(1)(e) stating that the Holder must be willing to accept the late filing	38-38-104(7) ANY PERSON ELIGIBLE TO FILE AN INTENT TO CURE DEFAULT UNDER SUBSECTION (1) OF THIS SECTION MAY FILE AN INTENT TO CURE DEFAULT LATER THAN FIFTEEN CALENDAR DAYS PRIOR TO THE SALE.  UPON ACCEPTANCE OF THE LATE NOTICE OF INTENT TO CURE DEFAULT BY THE HOLDER, OR THE ATTORNEY FOR THE HOLDER, THE OFFICER SHALL ACCEPT PAYMENT OF THE CURE AMOUNT.
4	Bid	38-38-106	c	Categories need changing and resorting.  Also need to alter language at bottom.	Remove the statement to send the Confirmation Deed and note with deficiency.  Review categories.	38-38-106 (2) The holder of the evidence of debt shall submit a signed and acknowledged bid, or the attorney for the holder shall submit a signed bid, which shall specify the following amounts, itemized in substantially the following categories and in substantially the following form: . . .                                                                                             Please send us the following:  1. Certificate of Purchase  2. Confirmation Deed  3. Promissory Note with deficiency noted thereon  4. Refund for overpayment of officer's fees and costs, if any  5. Other: .  Name of the holder of the evidence of debt or the attorney for the holder.  By:   Address:   Telephone:
6	Continuance	38-38-109	a	Penalties for late filing are confusing	Make all statements due within 10 business days or by noon 7 calendar days before the sale.  Move to Section 104	38-38-109(1)(c) (I) (A) 38-38-104(6) If the holder of the evidence of debt or the attorney for the holder  receives a request for a cure statement under section 38-38-104 (2) (a) thirty calendar days or less before the date of sale and does not  file a cure statement with the public trustee WITHIN TEN BUSINESS DAYS BUT NO LATER THAN by 12 noon on the seventh calendar day before the date of sale, the officer shall continue the sale week to week until the statement is filed but not beyond the period of continuance allowed by paragraph (a) of this subsection (1).                                                                                   (B) If the holder of the evidence of debt or the attorney for the holder receives a request for a cure statement under section 38-38-104 (2) (a) more than thirty calendar days before the date of sale and does not file a cure statement with the public trustee within ten business days after receipt of the request, the public trustee shall continue the sale week to week until the statement is filed as required by this paragraph (c) but not beyond the period of continuance allowed by paragraph (a) of this subsection (1).
7	Excess Proceeds	38-38-111	b	NEW - Wording is suspect (Bob Holmes)	Change "moneys due" with "the amount bid at such sale by"	38-38-111 (1) If, at a sale, the property is sold for an amount in excess of the sum of the fees and costs pursuant to section 38-37-104, the fees and costs of sale, and moneys due THE AMOUNT BID AT SUCH SALE BY the holder of the evidence of debt secured by the deed of trust or other lien being foreclosed, such excess proceeds shall be FIRST APPLIED TO ANY DEFICIENCY AS INDICATED IN THE HOLDER'S BID, AND THEN paid to the officer to be held in escrow until the end of all redemption periods as provided in section 38-38-302.
			c	NEW - Wording is incomplete (Bob Holmes)	Add "or other lien being foreclosed" after evidence of debt.	38-38-111 (2) Upon the expiration of all redemption periods provided in section 38-38-302, the excess proceeds shall be paid in order of recording priority, first to the holder of the evidence of debt OR OTHER LIEN BEING FORECLOSED to the extent of any deficiency as indicated in the holder's bid, subject to subsection (4) of this section, and second to junior lienors, determined as of the recording date of the notice of election and demand or lis pendens according to the records, who have duly filed a notice of intent to redeem and whose liens have not been redeemed in full pursuant to section 38-38-302, in each case up to the unpaid amount of each such lienor's lien plus fees and costs.
9	Redemption	38-38-302	a	Clarify that an assignment of a qualified lien may be recorded after the NED recording	Add language to cover recording the assignment or non-recorded indorsements.	38-38-302(1)(c) The lienor's lien appears by instruments that were duly recorded in the office of the clerk and recorder of the county where all or a portion of the property is located prior to the recording of the notice of election and demand or lis pendens and the lienor would be entitled to cure pursuant to section 38-38-104 (1);
			b	Holder of Certificate of Redemption has no authority to allow for a late filing of an intent, only the holder of the Certificate of Purchase	Add the holder of the Certificate of Redemption or their attorney	38-38-302(1)(d)(IV) The notice of intent to redeem is accompanied by a written authorization from the attorney for the holder of the certificate of purchase according to the records of the officer conducting the sale OR THE ATTORNEY FOR THE IMMEDIATELY PRIOR REDEEMING LIENOR IF A REDEMPTION HAS OCCURRED,, or, if no attorney is shown, then the holder of the certificate of purchase OR THE  IMMEDIATELY PRIOR REDEEMING LIENOR IF A REDEMPTION HAS OCCURRED, authorizing the officer to accept such notice of intent to redeem;
			c	Clarify what fees & costs are allowable for a junior lienor - 38-38-302 (6) & (7)	Harmonize the two sections - may not be necessary
12	Other Items		a	"Good" funds	When should funds be distributed to ensure that they are "good" funds?	May need to leave this to office policy or suggested guidelines
			d	We are not able to correct typos found in legal description on DOT	Alter Rule 120 hearing or allow PT to accept scrivener's affidavits	Still working on a solution
			e	Priority and status of HOA liens & assignments	Do we address this?  Not if the redemptions go away
			g	NEW - If a foreclosure situation requires a legal opinion, can the PT add that to the Fees and Costs? (Ed Murray)	This may be covered by 38-37-104 (1) (b) (X).  Should legal opinions be added?	38-37-104 (1) (b) (X) The sum of all amounts paid by the public trustee to third parties in connection with processing a foreclosure, including but not limited to all recording, filing, publication, and electronic transmission fees;
			h	NEW - There is no requirement for the DOT (or a copy) to be submitted with a Release Request (Tom Mowle)	Add DOT or a legible copy to the requirements.	38-39-102 (1) (a) (V) PRODUCTION OF THE ORIGINAL RECORDED DEED OF TRUST SECURING THE EVIDENCE OF DEBT OR A LEGIBLE COPY THEREOF;