California AB 919 if passed would require a mortgagee or beneficiary to attach a rider to all security instrument at the time of recording.  AB 919 was introduced on 3/1/09; amended and read a second time on 4/13/09.

Bill Summary 

This bill would require a mortgage or deed of trust that is secured by residential real property to have an attached rider that identifies by name the appraiser, lender, loan originator, and real estate broker, as defined, who were involved in the origination of the mortgage or deed of trust and his or her professional license number, if any. The bill would prohibit a county recorder from accepting a mortgage or deed of trust for recordation if a completed rider is not included. By creating a duty for a county recorder to examine a mortgage or deed of trust to establish if a completed rider has been included, this bill would impose a state-mandated local program. 

The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement.  This bill would provide that, if the Commission on State Mandates determines that the bill contains costs mandated by the state, reimbursement for those costs shall be made pursuant to these statutory provisions.

To view the current version of the Bill, please click here.