STAND. COM. REP. NO.  215

 

Honolulu, Hawaii

                , 2011

 

RE:   H.B. No. 1135

      H.D. 1

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2011

State of Hawaii

 

Sir:

 

     Your Committee on Housing, to which was referred H.B. No. 1135 entitled:

 

"A BILL FOR AN ACT RELATING TO MORTGAGE FORECLOSURES,"

 

begs leave to report as follows:

 

     The purpose of this bill is to:

 

     (1)  Notify certain mortgagors about credit counseling prior       to a regular nonjudicial foreclosure; and

 

     (2)  Allow certain mortgagors to forestall nonjudicial              foreclosure proceedings by requesting a copy of the            promissory note and mortgage document.

 

     Hawaiian Community Assets testified in support of this bill with amendments.  The Hawaii Bankers Association, Mortgage Bankers Association of Hawaii, Hawaii Credit Union League, and a concerned individual opposed this measure.  The Department of Commerce and Consumer Affairs offered comments.

 

     Your Committee has amended this bill by:

 

     (1)  Requiring a mortgagor to send a request for a promissory      note and mortgage document by regular mail postage             prepaid, instead of by certified, registered, or express      mail with prepaid postage and a request for a return               receipt; and

     (2)  Making technical, nonsubstantive amendments for                     clarity, consistency, and style.

 

     As affirmed by the record of votes of the members of your Committee on Housing that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1135, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1135, H.D. 1, and be referred to the Committees on Consumer Protection & Commerce and Judiciary.

 

Respectfully submitted on behalf of the members of the Committee on Housing,

 

 

 

 

____________________________

RIDA T.R. CABANILLA, Chair