Colorado Code
Part 1 - Foreclosure Sale
§ 38-38-100.3. Definitions

As used in articles 37 to 39 of this title 38, unless the context otherwise requires:

(1.5) "Amended mailing list" means the amended mailing list in accordance with section 38-38-103 (2) containing the names and addresses in the mailing list as defined in subsection (14) of this section and the names and addresses of the following persons:

(2.5) "Borrower" means a person liable under an evidence of debt constituting a residential mortgage loan.

(3.5) "CFPB" means the federal consumer financial protection bureau.

(4.5) "Complete loss mitigation application" means an application in connection with which a servicer has received all the information that the servicer requires from a borrower in evaluating applications for the loss mitigation options available to the borrower.

(5.3) "Consensual lien" means a conveyance of an interest in real property, granted by the owner of the property after the recording of a notice of election and demand, that is not an absolute conveyance of fee title to the property. "Consensual lien" includes but is not limited to a deed of trust, mortgage or other assignment, encumbrance, option, lease, easement, contract, including an instrument specified in section 38-38-305, or conveyance as security for the performance of the grantor. "Consensual lien" does not include a lien described in section 38-38-306 or 38-33.3-316.
(5.7) "Corporate surety bond" means a bond issued by a person authorized to issue bonds in the state of Colorado with the public trustee as obligee, conditioned against the delivery of an original evidence of debt to the damage of the public trustee.

(12.5) "Lienor" includes without limitation the holder of a certificate of purchase or certificate of redemption for property, issued upon the foreclosure of a deed of trust or other lien on the property.

(13.3) "Loss mitigation application" means an oral or written request for a loss mitigation option that is accompanied by any information requested by a servicer for evaluation for a loss mitigation option.
(13.7) "Loss mitigation option" means an alternative to foreclosure offered by the owner, holder, or assignee of a mortgage loan that is made available through the servicer to the borrower.

(17.3) "Overbid" means the amount a property is sold for at a foreclosure sale that is in excess of the written or amended bid amount executed by the holder of the evidence of debt secured by the deed of trust or other lien being foreclosed.
(17.5) "Person" means any individual, corporation, government or governmental subdivision or agency, business trust, estate, trust, limited liability company, partnership, association, or other legal entity.

(21.3) "Residential mortgage loan" means a loan that is primarily for personal, family, or household use and that is secured by a mortgage, deed of trust, or other equivalent, consensual security interest on a dwelling or residential real estate upon which is constructed or intended to be constructed a single-family dwelling or multiple-family dwelling of four or fewer units that is or will be used by the borrower as the borrower's primary residence.
(21.6) "Residential real estate" means any real property upon which a dwelling is or will be constructed.

(23.6) "Single point of contact" means an individual or team of personnel, each of whom has the ability and authority to perform the responsibilities described in section 38-38-103.1 on behalf of the servicer. The servicer shall ensure that each member of the team is knowledgeable about the borrower's situation and current status.

Source: L. 2006: Entire section added, p. 1438, § 6, effective January 1, 2008. L. 2007: IP, IP(10), (18), and (19) amended and (5.3), (5.7), and (12.5) added, p. 1831, § 5, effective January 1, 2008. L. 2009: (1.5) and (17.5) added and IP(10), (11), (14), and (19) amended, (HB 09-1207), ch. 164, p. 703, § 1, effective January 1, 2010. L. 2012: (17.3) added, (SB 12-030), ch. 96, p. 315, § 3, effective September 1. L. 2013: (20)(b) repealed, (SB 13-154), ch. 282, p. 1489, § 73, effective July 1. L. 2014: IP(10) amended, (HB 14-1130), ch. 156, p. 541, § 1, effective May 9; (20)(i) and (20)(j) amended and (20)(k) and (20)(l) added, (SB 14-022), ch. 101, p. 374, § 1, effective August 6; (2.5), (3.5), (4.5), (13.3), (13.7), (21.3), (21.6), (23.3), and (23.6) added, (HB 14-1295), ch. 157, p. 545, § 1, effective January 1, 2015. L. 2018: IP and (19) amended, (HB 18-1254), ch. 138, p. 902, § 1, effective August 8. L. 2021: (20)(k) amended and (20)(k.5) added, (HB 21-1224), ch. 199, p. 1057, § 1, effective May 28.
Editor's note: The effective date for the enactment of this section by chapter 305, Session Laws of Colorado 2006, was changed from July 1, 2007, to January 1, 2008, by section 27 of chapter 404, Session Laws of Colorado 2007. (See L. 2007, p. 1849 .)
Cross references: For the federal "Securities Exchange Act of 1934", see 15 U.S.C. 78a et seq.