Key Votes
SB 900 - Establishes Regulations for Home Loans - Key Vote
California Key Votes
Sam Blakeslee voted Nay (Conference Report Vote) on this legislation.
Read recent statements Sam Blakeslee made in this general time period.
Stages
- July 11, 2012 Executive Signed
- July 2, 2012 Senate Conference Report Adopted
- July 2, 2012 Senate Conference Report Adopted
- July 2, 2012 House Conference Report Adopted
- April 30, 2012 Senate Concurrence Vote Failed
- April 26, 2012 House Bill Passed
- May 19, 2011 Senate Bill Passed
- Feb. 18, 2011 Introduced
Family
Issues
Stage Details
Legislation - Signed (Executive) - July 11, 2012
Title: Establishes Regulations for Home Loans
Signed by Governor Jerry Brown, Jr.
Legislation - Conference Report Adopted (Senate) (25-13) - July 2, 2012 (Key vote)
Title: Establishes Regulations for Home Loans
Vote Smart's Synopsis:
Vote to adopt a conference report that establishes regulations for foreclosure procedures on home loans.
Highlights:
- Authorizes borrowers to obtain loss mitigation options, such as loan modifications, through the borrower's mortgage service as an alternative to foreclosure (Sec. 3).
- Prohibits a mortgage servicer from recording a notice of sale or conducting a trustee's sale if the borrower has submitted a complete application for a foreclosure prevention alternative while that application is still pending, and until the borrower has been notified with a determination regarding that borrower's eligibility for the foreclosure prevention alternative (Sec. 15).
- Prohibits a mortgage servicer from recording a notice of default if the foreclosure prevention alternative is approved in writing prior to or after the prevention alternative approval under either of the following circumstances (Sec. 15):
- The borrower is in compliance with the terms of a written trial or permanent loan modification or repayment plan; or
- A foreclosure prevention alternative has been approved in writing by all parties.
- Requires a mortgage servicer to contact the individual in person or over the telephone to discuss the borrower’s financial situation and explore options to avoid foreclosure (Sec. 4).
- Requires a notice of default to include that the mortgage servicer has done the following (Sec. 4):
- Has contacted the borrower;
- Has tried with “due diligence" to contact the borrower; or
- That no contact was required because the individual did not meet the definition of “borrower”.
- Defines “due diligence” as taking the following steps (Sec. 4):
- Sending a first-class letter to the borrower; and
- Telephoning the borrower at least 3 different hours on different days at the borrower's primary phone number.
- Authorizes a mortgage servicer or a variant thereof to record a notice of default or notice of sale, or conduct a trustee's sale, when one of the following occurs (Sec. 7):
- The mortgage servicer makes a written determination that the borrower is not eligible for a first lien loan modification and the appeal period has expired;
- The borrower does not accept the offered first lien loan modification within 14 days; or
- The borrower accepts a first lien loan modification but defaults on it.
- Specifies that borrowers have at least 30 days after a first lien loan modification is denied to appeal the denial and provide evidence of error in the mortgage servicer's decision (Sec. 7).
- Prohibits the mortgage servicer from recording a notice of default, recording a notice of sale or conducting a trustee's sale until the later of the following dates (Sec. 7):
- 31 days after the borrower is notified in writing of the denial;
- 15 days after the denial of the appeal was issued;
- 14 days after the borrower declines a first lien loan modification offer after appeal is granted; or
- When the borrower fails to submit the first payment after a first lien loan modification is offered and accepted.
- Requires a mortgage servicer to explain the denial of a first lien loan in a written notice (Sec. 7).
- Requires the mortgage servicer to provide the borrower with 1 or more direct means of communication with a single point of contact, when a borrower requests a foreclosure prevention alternative (Sec. 9).
- Authorizes a borrower to bring an action for injunctive relief against the mortgage servicer to refrain from recording a notice of foreclosure if a trustee's deed of sale has not been recorded (Secs. 16-17).
- Requires any mortgage servicer engaged in multiple and repeated violations relative to a foreclosure proceeding to be held liable for a civil penalty of up to $7,500 per mortgage or deed of trust (Sec. 20).
Note:
NOTE: THIS VOTE RECONSIDERS A PREVIOUS VOTE.
Legislation - Conference Report Adopted (Senate) (24-13) - July 2, 2012
Legislation - Conference Report Adopted (House) - July 2, 2012
Legislation - Concurrence Vote Failed (Senate) (1-26) - April 30, 2012
Legislation - Bill Passed (House) (47-24) - April 26, 2012
Legislation - Bill Passed (Senate) (34-0) - May 19, 2011
Legislation - Introduced (Senate) - Feb. 18, 2011
Title: Establishes Regulations for Foreclosure Procedure on Home Loans
Sponsors
- Ellen M. Corbett (CA - D)
- Mark DeSaulnier (CA - D)
- Noreen Evans (CA - D)
- Mark R. Leno (CA - D)
- Fran J. Pavley (CA - D)
- Darrell S. Steinberg (CA - D)
Co-sponsors
- Ronald S. 'Ron' Calderon (CA - D)
- Wilmer Amina Carter (CA - D) (Out Of Office)
- Mike Davis (CA - D) (Out Of Office)
- Mike Eng (CA - D) (Out Of Office)
- Mike Feuer (CA - D) (Out Of Office)
- Loni Hancock (CA - D)
- Holly J. Mitchell (CA - D)
- John A. Pérez (CA - D)
- Nancy Skinner (CA - D)
