12 U.S.C. § 3754 : US Code - Section 3754: Designation of foreclosure commissioner

Search 12 U.S.C. § 3754 : US Code - Section 3754: Designation of foreclosure commissioner

(a) In general
The Secretary may designate a person or persons to serve as a
foreclosure commissioner or commissioners for the purpose of
foreclosing upon a single family mortgage.
(b) Power of sale
A foreclosure commissioner designated under this section shall
have a nonjudicial power of sale.
(c) Qualifications
The foreclosure commissioner, if a natural person, shall be a
resident of the State in which the security property is located
and, if not a natural person, the foreclosure commissioner must be
duly authorized to transact business under laws of the State in
which the security property is located. No person shall be
designated as a foreclosure commissioner unless that person is
responsible, financially sound, and competent to conduct a
foreclosure.
(d) Designation procedure
(1) Written designation
The Secretary may designate a foreclosure commissioner by
executing a written designation stating the name and business or
residential address of the commissioner, except that if a person
is designated in his or her capacity as an official or employee
of a government or corporate entity, such person may be
designated by his or her unique title or position instead of by
name.
(2) Substitute commissioners
The Secretary may, with or without cause, designate a
substitute foreclosure commissioner to replace a previously
designated foreclosure commissioner.
(3) Number
More than 1 foreclosure commissioner may be designated at any
time.