CONFERENCE COMMITTEE REPORT NO. 28

                            Honolulu, Hawaii
                                            , 1999

                            RE:   S.B. No. 777
                                  S.D. 2
                                  H.D. 1
                                  C.D. 1




Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Conference on the disagreeing vote of the
Senate to the amendments proposed by the House of Representatives
in S.B. No. 777, S.D. 2, H.D. 1, entitled:  

     "A BILL FOR AN ACT RELATING TO FORECLOSURES," 

having met, and after full and free discussion, has agreed to
recommend and does recommend to the respective Houses the final
passage of this bill in an amended form.

     The purpose of this measure is amend the alternate power of
sale foreclosure procedures and requirements by:

     (1)  Deleting references to "guarantor" in part II, chapter
          667, Hawaii Revised Statutes;

     (2)  Requiring a mortgagee foreclosing under the alternate
          power of sale process to provide the defaulting
          mortgagor with specific information summarizing the
          foreclosure process along with the first notice of
          default;


 
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     (3)  Providing that the foreclosing mortgagee is authorized
          to sign the conveyance document as the mortgagor's
          attorney-in-fact;

     (4)  Clarifying that the public notice of public sale be
          mailed or delivered to the required parties; and

     (5)  Removing the limitation on the applicability of the
          alternate power of sale foreclosure process to
          mortgages executed after July 1, 1999. 

     Upon careful consideration, your Committee on Conference has
amended this measure to:

     (1)  Reduce the minimum period of time allowed for curing a
          default from sixty days after the default notice date
          to forty-five days after the default notice date;

     (2)  For the period prior to January 1, 2000, allow a
          mortgagee to provide to the defaulting mortgagor with
          the first notice of default a copy of the alternate
          power of sale foreclosure law, in lieu of the public
          information materials;

     (3)  Allow a public sale of the mortgaged property thirty
          days, rather than sixty days, after the distribution of
          the public notice of public sale;

     (4)  Repeal the foreclosure under power of sale law and its
          related provisions effective January 1, 2002; and 

     (5)  Provide that the measure shall be effective upon its
          approval.   

     Your Committee on Conference is in accord with the intent
and purpose of S.B. No. 777, S.D. 2, H.D. 1, as amended herein,
and recommends that it pass Final Reading in the form attached
hereto as S.B. No. 777, S.D. 2, H.D. 1, C.D. 1.

                                   Respectfully submitted,

MANAGERS ON THE PART OF THE        MANAGERS ON THE PART OF THE
            HOUSE                             SENATE
                                   
                                   
                                   
______________________________     ______________________________
RON MENOR, Co-Chair                BRIAN KANNO, Co-Chair

 
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______________________________     ______________________________
ERIC G. HAMAKAWA, Co-Chair         BRIAN T. TANIGUCHI, Co-Chair
                                   
                                   
                                   
______________________________     ______________________________
JERRY L. CHANG, Member             AVERY B. CHUMBLEY, Co-Chair
                                   
                                   
                                   
______________________________     ______________________________
DAVID A. PENDLETON, Member         MATTHEW M. MATSUNAGA, Co-Chair
                                   
                                   
                                   
                                   ______________________________
                                   COLLEEN HANABUSA, Member
                                   
                                   
                                   
                                   ______________________________
                                   WHITNEY T. ANDERSON, Member


 
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