Key Votes
AB 278 - Establishes Regulations for Foreclosure Procedures on Home Loans - Key Vote
California Key Votes
Ted Gaines voted Nay (Conference Report Vote) on this legislation.
Read recent statements Ted Gaines made in this general time period.
Stages
- July 11, 2012 Executive Signed
- July 2, 2012 Senate Conference Report Adopted
- July 2, 2012 House Conference Report Adopted
- April 23, 2012 House Concurrence Vote Failed
- April 19, 2012 Senate Bill Passed
- May 23, 2011 House Bill Passed
- Feb. 8, 2011 Introduced
Family
Issues
Stage Details
Legislation - Signed (Executive) - July 11, 2012
Title: Establishes Regulations for Foreclosure Procedures on Home Loans
Signed by Governor Jerry Brown, Jr.
Legislation - Conference Report Adopted (Senate) (25-13) - July 2, 2012 (Key vote)
Title: Establishes Regulations for Foreclosure Procedures on Home Loans
Vote Smart's Synopsis:
Vote to adopt a conference report that establishes regulations for foreclosure procedures on home loans.
Highlights:
- Prohibits a mortgage servicer from doing any of the following if a borrower has submitted a complete application for a first lien loan modification and that application is still pending (Sec. 7):
- Recording a notice of default;
- Recording a notice of sale; or
- Conducting a trustee's sale of the property.
- Requires a mortgage servicer to contact the borrower in person or by phone in order to assess the borrower's financial situation and explore options for the borrower to avoid foreclosure (Sec. 4).
- Requires a mortgage servicer to attempt to contact a borrower as follows before filing a notice of default (Sec. 4):
- Sending a letter to the borrower;
- Attempting to contact the borrower at least 3 times at different hours on different days by telephone;
- Providing a toll-free number for the borrower to call regarding his or her mortgage; and
- Granting the borrower 2 weeks to respond to the mortgage servicer's contact attempts.
- Requires the mortgage servicer to establish a single point of contact and provide the borrower with 1 or more direct means of communication with that single point of contact (Sec. 9).
- Authorizes a mortgage servicer 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 that the mortgage servicer's decision was made in error (Sec. 7).
- Prohibits the mortgage servicer from recording a notice of default or 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 after an appeal is granted; or
- When the borrower fails to submit the first payment after a first lien loan modification is accepted after an appeal.
- Requires a mortgage servicer to send a written notice to the borrower following the denial of a first lien loan modification application explaining the reasons for denial (Sec. 7).
- Authorizes a borrower to bring an action against the mortgage servicer to refrain from recording a notice of foreclosure for a violation of this chapter, if a trustee's deed of sale has not been recorded (Sec. 16).
- Requires any injunction to remain in place and the trustee's sale to be prohibited until the court determines whether the mortgage servicer has corrected the violation (Sec. 17).
- Requires any mortgage servicer engaged in multiple and repeated violations in any court 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).
Legislation - Conference Report Adopted (House) - July 2, 2012
Legislation - Concurrence Vote Failed (House) (5-57) - April 23, 2012
Legislation - Bill Passed (Senate) (23-13) - April 19, 2012
Legislation - Bill Passed (House) (78-0) - May 23, 2011
Legislation - Introduced (House) - Feb. 8, 2011
Title: Establishes Regulations for Foreclosure Procedures on Home Loans
Sponsors
- Mike Eng (CA - D) (Out Of Office)
- Mike Feuer (CA - D) (Out Of Office)
- Holly J. Mitchell (CA - D)
- John A. Pérez (CA - D)
Co-sponsors
- Ronald S. 'Ron' Calderon (CA - D)
- Wilmer Amina Carter (CA - D) (Out Of Office)
- Ellen M. Corbett (CA - D)
- Mike Davis (CA - D) (Out Of Office)
- Mark DeSaulnier (CA - D)
- Noreen Evans (CA - D)
- Loni Hancock (CA - D)
- Mark R. Leno (CA - D)
- Fran J. Pavley (CA - D)
- Nancy Skinner (CA - D)
- Darrell S. Steinberg (CA - D)
