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,
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____________________________ RIDA T.R. CABANILLA, Chair |
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