For purposes of this title, the following terms have the following meanings: (a) (1) âBorrowerâ means a natural person who is a mortgagor or trustor, or a person who holds a power of attorney for a mortgagor or trustor. (2) âBorrowerâ does not include an individual who has surrendered the secured property as evidenced by either a letter confirming the surrender or delivery of the keys to the property to the mortgagee, trustee, beneficiary, or authorized agent. (3) âBorrowerâ does not include an individual who has a recorded notice of default recorded against the real property that is secured by the residential mortgage loan before the beginning of the wildfire disaster unless the notice of default was rescinded. (b) âFederally backed loanâ means a residential mortgage loan that is insured, guaranteed, purchased, or secured by a federal agency or government-sponsored entity. (c) âDisaster-related forbearance reliefâ means the relief described in servicing guidelines for federally backed loans. (d) (1) âMortgage servicerâ means a person or entity who directly services a loan or who is responsible for interacting with the borrower, managing the loan account on a daily basis, including collecting and crediting periodic loan payments, managing any escrow account, or enforcing the note and security instrument, either as the current owner of the promissory note or as the current ownerâs authorized agent. (2) âMortgage servicerâ also means a subservicing agent to a master servicer by contract. (3) âMortgage servicerâ does not include a trustee, or a trusteeâs authorized agent, acting under a power of sale pursuant to a deed of trust. (e) âResidential mortgage loanâ means a loan that is secured by residential real property improved by four or fewer residential units. (f) âWildfire disasterâ means the conditions described in the proclamation of a state of emergency issued by Governor Gavin Newsom on January 7, 2025, or the federally declared disaster, declared on January 8, 2025, related to the Eaton Wildfire, the Palisades Fire, and the Straight-line Winds (DR-4856-CA).
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