A California bill that would require loan servicers to contact borrowers and seek ways to avoid foreclosure was defeated Aug. 24 but has one last slim chance of passage next week. The bill, SB 1275, originally received broad statewide support but more recently has been the subject of intense opposition by the mortgage and banking industry, according to published newspaper reports in California. The legislation passed in the state Senate 21-12 in June and received support among Assembly committees before falling to defeat in a 38-27 vote earlier this week.
California foreclosure prevention bill on life support
Most Popular Articles
Latest Articles
Pending home sales pick up in February: NAR
Transactions remain 7% lower on an annualized basis as mortgage rates remain an obstacle
-
11 real estate events & conferences to help you thrive in 2024
-
In quest to grow reverse business, US Mortgage Corporation hires Krajewski
-
NAR wants VA to change rules that prohibit veteran buyers from paying broker commissions
-
Renters gain financial edge over homebuyers in key U.S. markets: Realtor.com
-
Reverse-centric Ibis Software appoints Sivori to board of directors