Foreclosure mistakes that count as unfair acts and limits on canceling a sale

(a) Any foreclosing mortgagee who engages in any of the following violations of this chapter shall have committed an unfair or deceptive act or practice under section 480-2 : (1) Failing to provide a borrower or mortgagor with, or failing to serve as required, the information required by section 667-22 or 667-55; (2) Failing to publish, or to post , information on the mortgaged property, as required by section 667-27 or 667-28; (3) Failing to take any action required by section 667-24 if the default is cured or an agreement is reached; (4) Engaging in conduct prohibited under section 667-56; (5) Holding a public sale in violation of section 667-25; (6) Failing to include in a public notice of public sale the information required by section 667-27 or section 667-28; (7) Failing to provide the information required by section 667-41; (8) With regard to mortgage foreclosure dispute resolution under part V: (A) Failing to provide notice of the availability of dispute resolution as required by section 667-75; (B) Participating in dispute resolution without authorization to negotiate a loan modification, or without access to a person so authorized, as required by section 667-80(a)(1); (C) Failing to provide required information or documents as required by section 667-80(c); or (D) Completing a nonjudicial foreclosure if a neutral's closing report under section 667-82 indicates that the foreclosing mortgagee failed to comply with requirements of the mortgage foreclosure dispute resolution program; (9) Completing a nonjudicial foreclosure while a stay is in effect under section 667-83; (10) Failing to distribute sale proceeds as required by section 667-31; (11) Making any false statement in the affidavit of public sale required by section 667-32; (12) Attempting to collect a deficiency in violation of section 667-38 ; and (13) Failing to file a foreclosure notice with the department as required by section 667-76(a). (b) Notwithstanding subsection (a), the transfer of title to the purchaser of the property as a result of a foreclosure under this chapter shall only be subject to avoidance under section 480-12 for violations described in subsection (a)(1) to (9) if such violations are shown to be substantial and material; provided that a foreclosure sale shall not be subject to avoidance under section 480-12 for violation of section 667-56(5). (c) Any action to void the transfer of title to the purchaser of property pursuant to a foreclosure by power of sale under part II of this chapter shall be filed in the circuit court of the circuit within which the foreclosed property is situated no later than sixty days following the recording of the affidavit required by section 667-32. If no such action is filed within the sixty-day period, then title to the property shall be deemed conclusively vested in the purchaser free and clear of any claim by the mortgagor or anyone claiming by, through, or under the mortgagor.