Rockledge requires banks to register foreclosures | floridatoday.com | FLORIDA TODAY: "Backed by the teeth of a municipal ordinance, which makes mortgage holders subject to code enforcement citations and fines if they don't comply, the company makes contact with lenders.
Federal Property Registration Corp., a Melbourne-based company started in March by ex-bankers, charges lenders $150 to register the foreclosure in its database, which can be accessed by clients only and whose information won't be sold to third parties.
According to the Rockledge ordinance, the city gets half of the fee and the company takes half."
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