THE SENATE
THE TWENTY-SIXTH LEGISLATURE
REGULAR SESSION OF 2011
COMMITTEE ON COMMERCE AND CONSUMER PROTECTION
Senator Rosalyn H. Baker, Chair
Senator Brian T. Taniguchi, Vice-Chair
MEASURES DEFERRED TO FRIDAY, FEBRUARY 04, 2011
DATE:
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Friday, February 04, 2011
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TIME:
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10:00 AM
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PLACE:
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Conference Room 229
State Capitol
415 South Beretania Street
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DECISION MAKING ON THE
FOLLOWING MEASURE(S):
SB652
Testimony
Status
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RELATING TO MORTGAGE FORECLOSURES.
Implements recommendations of the mortgage foreclosure task force relating to
service of notice, conversion from nonjudicial to judicial foreclosure, the
bar against deficiency judgments, notice of pendency of action, and
extinguishment of the mortgagor's interest pursuant to the old nonjudicial
foreclosure law.
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CPN, WAM
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SB235
Testimony
Status
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RELATING TO DEFICIENCY JUDGMENTS.
Prohibits deficiency judgment against a mortgagor after a short sale of
residential real property pursuant to a foreclosure by action or foreclosure
by power of sale.
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CPN, JDL
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SB1191
Testimony
Status
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RELATING TO MORTGAGE FORECLOSURES.
Prohibits foreclosing mortgagees in nonjudicial foreclosures from pursuing
deficiency judgments against the borrowers. Prohibits junior lienholders
from pursuing monetary judgments against the borrowers.
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CPN, JDL
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SB576
Testimony
Status
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RELATING TO FORECLOSURE.
Requires mediation for the purpose of attempting to avoid foreclosure before
foreclosure by action or by power of sale may take place; makes conforming
amendments; creates and funds the position of mortgage mediation
administrator in the center for alternative dispute resolution.
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CPN, JDL
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SB234
Testimony
Status
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RELATING TO MORTGAGE FORECLOSURES.
Requires a mortgagee in possession of a foreclosed property to pay all costs
or fees related to the property for which a lien may be placed and to
maintain the foreclosed property in a certain condition until transfer to a
subsequent purchaser; removes the cap on past-due association fees for a
mortgagee that takes possession of a foreclosed condominium.
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CPN
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SB651
Testimony
Status
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RELATING TO MORTGAGE FORECLOSURES.
Requires foreclosing mortgagees to engage in mediation with the mortgagors
prior to initiating non-judicial foreclosure proceedings. Establishes a
special fund for mediation costs in the office of consumer protection.
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CPN, WAM
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SB1074
Testimony
Status
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RELATING TO MORTGAGE FORECLOSURES.
Amends the nonjudicial foreclosure process under part I of chapter 667, to
among other things require notice of intent to foreclose be served upon
required parties, to prohibit a mortgagee of residential property using the
nonjudicial foreclosure process from subsequently obtaining a deficiency
judgment against owner-occupants, authorize an owner-occupant of residential
property to convert the process to a judicial foreclosure proceeding.
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CPN, JDL
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SB1175
Testimony
Status
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RELATING TO NONJUDICIAL FORECLOSURE.
Repeals authorization for nonjudicial power of sale foreclosure as contained
in a mortgage instrument pursuant to section 667-5, HRS, and requires a
foreclosing mortgagee to utilize either the judicial foreclosure process or
the statutory power of sale foreclosure process containing additional consumer
protections found in part II of chapter 667, HRS; makes conforming
amendments.
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CPN, JDL
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No testimony will be accepted.
FOR FURTHER INFORMATION, PLEASE CONTACT THE COMMITTEE CLERK AT 808-586-6070.