2019 Delaware Code
Title 6 - Commerce and Trade
Chapter 24B. Foreclosure Consultants and Reconveyances
Subchapter II Foreclosure Consultants
§ 2415B Prohibited acts.
(a) A foreclosure consultant may not:
(1) Claim, demand, charge, collect, or receive any compensation until after the foreclosure consultant has fully performed each and every service the foreclosure consultant contracted to perform or represented that the foreclosure consultant would perform;
(2) Claim, demand, charge, collect, or receive any interest or any other compensation for any loan that the foreclosure consultant makes to the homeowner that exceeds 8% per year;
(3) Take any wage assignment, any lien, or any type of real or personal property, or other security to secure the payment of compensation;
(4) Receive any consideration from any third party in connection with foreclosure consulting services provided to a homeowner unless the consideration is first fully disclosed in writing to the homeowner;
(5) Acquire any interest, directly or indirectly, or by means of a related person, in a residence in default from a homeowner with whom the foreclosure consultant has contracted;
(6) Take any power of attorney from a homeowner to enter into a foreclosure consulting contract that does not comply in all respects with this subchapter; or
(7) Facilitate or engage in any transaction that is unconscionable under the terms and circumstances of the transaction.
(b) No person may engage in any of the activities identified in § 2402B(1) or (3) of this title if such activities are prohibited by § 910 of Title 11.
(c) No person may engage in any of the activities identified in § 2402B(1) or (3) of this title for which registration is required under Chapter 24 of this title, unless such person has registered and fulfilled all other applicable requirement of that chapter.
76 Del. Laws, c. 419, § 1; 78 Del. Laws, c. 196, § 8.
