Establishes a Resolution Trust Fund to manage and service residential mortgages with unidentifiable mortgagees or note owners.

The bill establishes a Resolution Trust Fund in Massachusetts to manage and service residential mortgages where the mortgagee or note owner cannot be identified. The Treasurer will appoint a director to administer the fund, ensuring prudent investment of funds and allocation of resources based on Eaton affidavits filed in the preceding five years. The fund will service loans, pay taxes and costs, and provide mortgagee status determinations. It will also assist delinquent mortgagors and modify predatory loans.

Establishes a Resolution Trust Fund to manage and service residential mortgages with unidentifiable mortgagees or note owners.

The bill establishes a Resolution Trust Fund in Massachusetts to manage and service residential mortgages where the mortgagee or note owner cannot be identified. The Treasurer will appoint a director to administer the fund, ensuring prudent investment of funds and allocation of resources based on Eaton affidavits filed in the preceding five years. The fund will service loans, pay taxes and costs, and provide mortgagee status determinations. It will also assist delinquent mortgagors and modify predatory loans.