AN ACT TO AMEND TITLE 25 OF THE DELAWARE CODE RELATING TO MORTGAGES.

Section 1 of this Act clarifies that the intent of Senate Bill No. 32 of the 149th General Assembly was to require mortgagees to file a statement of mortgagee address change when its notice address changed, not to require mortgagees to include each mortgage affected by a change of notice address. The form added to the Delaware Code by § 2124(b) of Title 25 is removed to further aid clarity. In its place, each recorder is granted authority to issue a sample form. This Act also makes changes to § 2124 of Title 25 to do the following: 1. Clarify that each recorder must create a statement of mortgagee address change index and provide for the minimum information required by such an index. Section 2 of this Act removes the requirements related to the statement of mortgagee address change index that are located there in favor of placing these provisions within § 2124 of Title 25. 2. Provide a penalty for the failure to file a statement of mortgagee address change within 60 days of a change in notice address. 3. Grant each recorder the power to impose fees that reasonably reflect the costs necessary to defray expenses associated with creating and maintaining the statement of mortgagee address change index.