Relating to the persons authorized or appointed to exercise the power of sale under the terms of a contract lien on real property.

Contracts

• Deeds of Trust: Review proprietary security instruments to ensure they do not explicitly restrict the definition of "Trustee" to a natural person. Standard Fannie/Freddie forms are generally compatible.
• Master Service Agreements (MSAs): Update agreements with foreclosure vendors to reflect that the vendor entity, rather than individual attorneys, will be the appointed trustee.

Hiring/Training

• Foreclosure Departments: Train staff to input entity names (e.g., "Smith & Associates, PLLC") rather than individual names into the *Appointment of Substitute Trustee* fields.
• Signatory Authority: Establish clear internal protocols regarding which officers or agents are authorized to sign the *Trustee’s Deed* on behalf of the corporate trustee.

Reporting & Record-Keeping

• Document Templates: You must revise the *Appointment of Substitute Trustee*, *Notice of Sale*, and *Trustee’s Deed* templates.
• Change: Replace individual name fields with entity name fields.
• Change: Update signature blocks on the *Trustee's Deed* to reflect a corporate execution (e.g., "ABC Trustee Services, LLC, by [Name], Authorized Agent").

Fees & Costs

• No New State Fees: Filing fees remain unchanged.
• Cost Savings: Operational savings are expected due to reduced document preparation when personnel changes occur within vendor firms.