PROFESSIONALS: Licensing: FORECLOSURE DATA REPORTING

FORECLOSURE DATA REPORTING

In the 2009 Regular Session of the West Virginia Legislature, House Bill 3082 was passed with an effective date of July 7, 2009. The bill relates to the gathering and reporting of foreclosure data and statistics. The new requirement applies to real property that is occupied, or intended to be occupied, as a residence.

Trustees

Upon the effective date, the trustee must include with each Trustee Report of Sale the information required under H.B. 3082 on a form developed by the West Virginia Division of Banking. The disclosure form required by the statute is provided below and must be made a part of the Report of Sale when recorded.

Trustees' Disclosure Form To Be Filed With Report Of Sale
		(Word 2000)

West Virginia County Clerks

Each County Clerk must collect the required information and submit the data to the West Virginia Commissioner of Banking within 15 days of the last day of September, December, March, and June of each year. This information must be submitted electronically. A downloadable spreadsheet form is provided below for this purpose.

County Clerk's Foreclosure Spreadsheet
		(Excel 2000)

The House Bill also increases the recording fees for a Report of Sale to $40.00, of which $20.00 shall be paid by the County Clerk quarterly to the West Virginia State Treasurer for deposit into the Banking Commissioner’s fund and the remaining $20.00 retained by the county. A Payment Summary of fee transmission has also been provided below for clerks to send to the Division of Banking.

County Clerk's Payment Summary
		(Word 2000)

You may access the statute at www.legis.state.wv.us for the full text of the legislation.

Once the raw data has been submitted to the Division of Banking, it will be complied and provided on this webpage in a printable/downloadable format.

Questions should be directed to the West Virginia Division of Banking
at the following address:

One Players Club Drive, Suite 300
Charleston, WV 25311-1638
Or via email to Tracy Hudson at thudson@wvdob.org