In response to the state’s Supreme Court recent ruling in the landmark Ibanez case, Massachusetts officials are calling for new regulations and legislation that would increase notification of mortgage ownership by lenders to homeowners and the Land Court.

During testimony at a Division of Banks’ public hearing in Brockton today – the first of three – Undersecretary for Consumer Affairs and Business Regulation Barbara Anthony outlined the details regarding foreclosure right-to-cure notices and reverse mortgages, according to a statement. They include:

• The regulatory proposal would mandate the right-to-cure notice to a consumer include proof from the lender that it is the rightful mortgage holder. The right-to-cure period of 150 days gives homeowners the opportunity to solve their foreclosure problem before the property is taken by the lender. Lenders are currently mandated by statute to include their name, address and contact information in the right-to-cure notice.

• The legislative proposal would mandate lenders also include proof of mortgage ownership when filing for foreclosure in Land Court. Currently lenders must submit to the court proof that it provided a homeowner with the right-to-cure notice.

"The ownership of a mortgage should be a basic fact that is clear to a homeowner not just during foreclosure, but at any point in a loan relationship," said Anthony. "These proposed reforms will ensure that homeowners are not dealing with a lender with no right to pursue foreclosure, and will give potential buyers confidence they are purchasing property with a clear title."

Upcoming hearings are scheduled in Lawrence on Jan. 25 and in Springfield on Jan. 27.