An Act To Create Transparency in the Mortgage Foreclosure Process
Maine Legislature, Session 127, LD 0401
Committee: Judiciary
Sponsors: BEAVERS, JOHNSON, COOPER, GINZLER, TUCKER, VEROW, BURNS
Amends: 14 MRSA §6321

Legislative Document 
No. 401 
H.P. 267 
House of Representatives, February 12, 2015 
An Act To Create Transparency in the Mortgage Foreclosure 
Process 
Reference to the Committee on Judiciary suggested and ordered printed. 
ROBERT B. HUNT 
Clerk 
Presented by Representative BEAVERS of South Berwick. 
Cosponsored by Senator JOHNSON of Lincoln and 
Representatives: COOPER of Yarmouth, GINZLER of Bridgton, McCREIGHT of Harpswell, 
TUCKER of Brunswick, VEROW of Brewer, Senator: BURNS of Washington. 
Be it enacted by the People of the State of Maine as follows: 
Sec. 1.  14 MRSA §6321, first and 2nd ¶¶, as amended by PL 2007, c. 391, §9, 
are further amended to read: 
After breach of condition in a mortgage of first priority, the mortgagee or any person 
claiming under the mortgagee, as long as that person is the owner of the mortgage loan 
secured by the mortgage and also is the party entitled to enforce the debt secured by the 
mortgage, may proceed for the purpose of foreclosure by a civil action against all parties 
in interest in either the Superior Court or the District Court in the division in which the 
mortgaged premises or any part of the mortgaged premises is located, regardless of the 
amount of the mortgage claim.   
After breach of condition of any mortgage other than one of the first priority, the 
mortgagee or any person claiming under the mortgagee, as long as that person is the 
owner of the mortgage loan secured by the mortgage and also is the party entitled to 
enforce the debt secured by the mortgage, may proceed for the purpose of foreclosure by 
a civil action against all parties in interest, except for parties in interest having a superior 
priority to the foreclosing mortgagee, in either the Superior Court or the District Court in 
the division in which the mortgaged premises or any part of the mortgaged premises is 
located. Parties in interest having a superior priority may not be joined nor will their 
interests be affected by the proceedings, but the resulting sale under section 6323 is of the 
defendant or mortgagor's equity of redemption only. The plaintiff shall notify the priority 
parties in interest of the action by sending a copy of the complaint to the parties in 
interest by certified mail. 
Sec. 2.  14 MRSA §6321, as amended by PL 2013, c. 555, §2, is further amended 
by adding after the 2nd paragraph a new paragraph to read: 
As used in this section, "owner" means the ultimate economic beneficiary of the loan 
secured by the mortgage, except that, if the loan is held in trust for the benefit of investors 
or as a means to provide investment interests in a pool of loans, the trustee is considered 
to be the owner. 
SUMMARY 
This bill requires a mortgage loan owner to conduct a foreclosure in the name of the 
mortgage loan owner, instead of a mortgage loan servicer, to ensure that courts and 
parties know that the foreclosing plaintiff is the mortgage loan owner and the entity 
whose loan modification programs affect the ability of homeowners to obtain loan 
modifications.