Wisconsin § 846.45 - Regulation of foreclosure consultants.

§ 846.45. Regulation of foreclosure consultants.

846.45(1) (1) Definitions. In this section, unless the context requires otherwise: 846.45(1)(a) (a) “Contract” means an agreement, or any term in an agreement, between a foreclosure consultant and a foreclosed homeowner for the rendition of any service. 846.45(1)(b) (b) “Foreclosed homeowner” has the meaning given in s. 846.40 (1) (b) . 846.45(1)(c) (c) 846.45(1)(c)1. 1. Except as provided in subd. 2. , “foreclosure consultant” means a person who, directly or indirectly, makes a solicitation, representation, or offer to a foreclosed homeowner to perform for compensation, or who for compensation performs, any service that the person in any manner represents will in any manner do any of the following: 846.45(1)(c)1.a. a. Stop or postpone the foreclosure sale. 846.45(1)(c)1.b. b. Obtain any forbearance from a beneficiary or mortgagee. 846.45(1)(c)1.c. c. Obtain a waiver of an acceleration clause contained in a promissory note or contract secured by a mortgage on the residence in foreclosure or contained in the mortgage. 846.45(1)(c)1.d. d. Assist the foreclosed homeowner to obtain a loan or advance of funds. 846.45(1)(c)1.e. e. Avoid or ameliorate the impairment of the foreclosed homeowner’s credit resulting from the recording of a lis pendens or the conduct of a foreclosure sale. 846.45(1)(c)1.f. f. Save the residence in foreclosure from foreclosure. 846.45(1)(c)2. 2. “Foreclosure consultant” does not include any of the following: 846.45(1)(c)2.a. a. A person licensed to practice law in this state when the person renders service in the course of his or her practice as an attorney at law. 846.45(1)(c)2.b. b. A person licensed as a real estate broker or salesperson under ch. 452 when the person engages in acts for which licensure under that chapter is required, unless the person is engaged in offering services designed to, or purportedly designed to, enable the foreclosed homeowner to retain possession of the residence in foreclosure. 846.45(1)(c)2.c. c. A person certified or licensed to practice as a certified public accountant under ch. 442 when the person is acting in any capacity for which the person is certified or licensed under that chapter. 846.45(1)(c)2.d. d. A person, or the person’s authorized agent, acting under the express authority or written approval of the department of housing and urban development or other department or agency of the United States or this state to provide services. 846.45(1)(c)2.e. e. A person who holds or is owed an obligation secured by a lien on any residence in foreclosure when the person performs services in connection with this obligation or lien if the obligation or lien did not arise as the result of or as part of a proposed foreclosure reconveyance. 846.45(1)(c)2.f. f. A person or entity doing business under any law of this state, or of the United States, relating to a financial institution, as defined in s. 214.01 (1) (jn) , to a lender licensed under s.