Nebraska Servicing Reference Guide
- Kacey Olson
| Citation | Topic | Requirement |
| Real Property Laws / Neb. Rev. Stat. §76-1012(1) | Cancellation of Notice of Default | If the default is cured and the trust deed reinstated, the beneficiary must, on demand of any person having an interest in the trust property, execute and deliver to the person a request to the trustee that the trustee execute, acknowledge, and deliver a cancellation of the recorded notice of default under the trust deed. |
| Neb. Rev. Stat. §25-2142(2) | Designee for Notices of Violations or Ordinances | (2) Subsequent to the filing of a complaint for the foreclosure or satisfaction of a mortgage under this section, the complainant, within five business days after receipt of a written request by a designated representative of the incorporated city or village having jurisdiction of the mortgaged property, shall provide the name and address of a person designated by the complainant to accept notices of violations of ordinances by the owner of the mortgaged property on behalf of the complainant. Failure to provide the name and address required under this subsection shall not void, invalidate, or affect in any way a complaint for the foreclosure or satisfaction of a mortgage filed under this section. This subsection does not impose upon the complainant a duty to maintain the mortgaged property. The designation of a representative to receive notices shall terminate upon transfer of fee title ownership to the mortgaged property. |
| Neb. Rev. Stat. §76-1011 | Distribution of Proceeds of Sale | The trustee shall apply the proceeds of the trustee's sale, first, to the costs and expenses of exercising the power of sale and of the sale, including the payment of the trustee's fees actually incurred not to exceed the amount which may be provided for in the trust deed, second, to payment of the obligation secured by the trust deed, third, to the payment of junior trust deeds, mortgages, or other lienholders, and the balance, if any, to the person or persons legally entitled thereto. |
| Neb. Rev. Stat. §76-1008 | Notice of Default | (2) Not later than ten days after recordation of such notice of default, the trustee or beneficiary or the attorney for the trustee or beneficiary shall mail, by registered or certified mail with postage prepaid, a copy of such notice with the recording date shown thereon, addressed to each person whose name and address is set forth in a request therefor which has been recorded prior to the filing for record of the notice of default, directed to the address designated in such request. At least twenty days before the date of sale, the trustee or the attorney for the trustee shall mail, by registered or certified mail with postage prepaid, a copy of the notice of the time and place of sale, addressed to each person whose name and address is set forth in a request therefor which has been recorded prior to the filing for record of the notice of default, directed to the address designated in such request. (4) If no address of the trustor is set forth in the trust deed and if no request for notice by such trustor has been recorded as provided in this section, a copy of the notice of default shall be published at least three times, once a week for three consecutive weeks, in a newspaper of general circulation in each county in which the trust property or some part thereof is situated, such publication to commence not later than ten days after the filing for record of the notice of default. |
| Courts, District; Civil Procedure / Neb. Rev. Stat. §25-1529 | Notice of Sale (Publication) | Lands sold under execution may not be sold until the officer causes public notice of the time and place of sale to be given. The notice must be published once each week for 4 successive weeks in some newspaper printed in the county where the property is located. In addition, the notice must be posted on the courthouse door, and in 5 other public places in the county, 2 of which must be in the precinct where the property is located. |
Real Property Laws / Neb. Rev. Stat. §76-1007(3) Neb. Rev. Stat. §76-1006(1)(c) | Notice of Trustee's Sale | The trustee or the attorney for the trustee must give written notice of the time and place of sale particularly describing the property to be sold. (1) The trustee or the attorney for the trustee shall give written notice of the time and place of sale particularly describing the property to be sold by publication of such notice, at least five times, once a week for five consecutive weeks, the last publication to be at least ten days but not more than thirty days prior to the sale, in some newspaper having a general circulation in each county in which the property to be sold, or some part thereof, is situated. (c) After the lapse of not less than one month, or two months if the notice of default is subject to subdivision (1)(b)(i) of this section, the trustee or the attorney for the trustee shall give notice of sale as provided in section 76-1007. (2) Not later than ten days after recordation of such notice of default, the trustee or beneficiary or the attorney for the trustee or beneficiary shall mail, by registered or certified mail with postage prepaid, a copy of such notice with the recording date shown thereon, addressed to each person whose name and address is set forth in a request therefor which has been recorded prior to the filing for record of the notice of default, directed to the address designated in such request. At least twenty days before the date of sale, the trustee or the attorney for the trustee shall mail, by registered or certified mail with postage prepaid, a copy of the notice of the time and place of sale, addressed to each person whose name and address is set forth in a request therefor which has been recorded prior to the filing for record of the notice of default, directed to the address designated in such request. |
| Neb. Rev. Stat. §76-1010(1) | Post Sale Deed | (1) The purchaser at the sale shall forthwith pay the price bid, and upon receipt of payment, the trustee shall execute and deliver his or her deed to such purchaser. The trustee's deed may contain recitals of compliance with the requirements of the Nebraska Trust Deeds Act relating to the exercise of the power of sale and sale of the property described therein, including recitals concerning any mailing, personal delivery, and publication of the notice of default, any mailing and the publication and posting of notice of sale, and the conduct of sale. Such recitals shall constitute prima facie evidence of such compliance and conclusive evidence thereof in favor of bona fide purchasers and encumbrancers for value and without notice. |
| Real Property Laws / Neb. Rev. Stat. §76-252 | Release of Lien | When the obligation secured by any mortgage has been satisfied, the mortgagee must, upon receipt of a written request by the mortgagor, execute and deliver a release of mortgage in recordable form to the mortgagor. Any mortgagee who fails to deliver a release within 60 days after receipt of the written request will be liable to the mortgagor for $5,000 or actual damages resulting from the failure, whichever is greater. |
| Residential Mortgage Licensing Act / Neb. Rev. Stat. §45-739 | Transfer of Servicing Rights Notice | At least 15 days prior to the effective date of the transfer of servicing rights involving any residential mortgage loan, the licensee transferring the servicing rights must send a written notice of transfer. |