Tag: 2013 Legislature

By August 4, 2013 0 Comments Read More →

OregonLive: State Starts Do-Over on Foreclosure Mediation

Elliot Njus has a short article on the relaunch of the foreclosure mediation program, now dubbed the Oregon Foreclosure Avoidance Program, on OregonLive. In the article, the Oregon Banker’s Association’s chief lobbyist on this issue, Paul Cosgrove, warns that lenders will need time to adjust to the new rules, noting that lenders had only a […]

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By July 22, 2013 0 Comments Read More →

DOJ Files Temporary Administrative Rules for Oregon Foreclosure Avoidance Program

Today the Oregon Department of Justice filed the temporary administrative rules for the Oregon Foreclosure Avoidance Program (OFAP). OFAP was enacted in 2012 as the Foreclosure Avoidance Mediation Program (FAMP) to require lenders to meet face-to-face with homeowners to negotiate an alternative to foreclosure. FAMP applied only to non-judicial foreclosures commenced after July 11, 2012. […]

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By June 5, 2013 0 Comments Read More →

Revamped Foreclosure Mediation Program Goes Live August 4

On June 3, Governor John Kitzhaber signed SB 558 into law. SB 558 closes the loophole that allowed lenders to avoid mediation with a borrower facing foreclosure if the lender intended to foreclose judicially. The new law also streamlines the process and incorporates lessons learned during the first year of operation, recommendations from stakeholders, and […]

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Oregon Foreclosure Mediation Bill SB 558 Passes House
By May 22, 2013 0 Comments Read More →

Oregon Foreclosure Mediation Bill SB 558 Passes House

Late this morning the House passed the foreclosure mediation fix bill, SB 558, on a 45-12 vote. The Governor is expected to sign the bill into law. SB 558 closes a gaping loophole in the existing foreclosure mediation program that allowed lenders to ignore the program entirely if they foreclose judicially. One week after the […]

Posted in: Features
Update on Foreclosure Bills in the 2013 Oregon Legislature (Updated July 7)
By May 22, 2013 1 Comments Read More →

Update on Foreclosure Bills in the 2013 Oregon Legislature (Updated July 7)

The 2013 Oregon Legislature is humming away and foreclosure issues are front and center this session. The legislative session is nearly over and the foreclosure bills introduced all have met their fates. Although much of the attention is was focused on SB 558, the foreclosure mediation bill, and SB 804, the Bankers Bailout Bill, a number of […]

Posted in: Features
By May 15, 2013 0 Comments Read More →

Oregon Foreclosure Mediation Bill SB 558 Moves Out of Committee

This afternoon the House Committee on Consumer Protection and Government Efficiency voted 7-1-1 to send the foreclosure mediation bill, SB 558, to the House floor with a do pass recommendation. The only ‘no’ vote came from Representative Greg Smith (R-Heppner). Representative Kim Thatcher (R-Keizer) was excused. Rep. Smith withdrew a last minute amendment that would […]

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By May 14, 2013 1 Comments Read More →

Another Gaping Loophole in Oregon’s Foreclosure Mediation Program?

In a recent post on Blue Oregon, Economic Fairness Oregon asked whether large national servicers will get a free pass on foreclosure mediation under SB 558. The problem is that servicers have been selling hundreds of billions of dollars in mortgage servicing rights (MSRs) in the past year, particularly MSRs for troubled loans originated during […]

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By April 16, 2013 1 Comments Read More →

Oregon Foreclosure Mediation Bill SB 558 Passes the Senate 22-7-1

Minutes ago the Oregon Senate voted to pass SB 558, the foreclosure mediation bill, on a largely bipartisan vote. The final vote was 22 ayes, 7 nays, and 1 excused. All 7 no votes came from Republicans. Those voting against: Fred Girod (R-Stayton), Tim Knopp (R-Bend), Jeff Kruse (R-Roseburg), Chuck Thomsen (R-Hood River), Betsy Close […]

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By April 11, 2013 2 Comments Read More →

MERS Bank Bailout Bill SB 804 Amended, Will Move To Rules Pending Niday Decision

This afternoon the Senate Committee on General Government, Consumer and Small Business Protection moved the Dash 1 amendments to SB 804, the so-called Bank Bailout Bill. Pursuant to an agreement between the Democratic Chair, Senator Chip Shields, and the Republican Vice-Chair, Senator Larry George, the amendments strip out certain provisions of SB 804, including the […]

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By April 9, 2013 0 Comments Read More →

Public Hearing Set on MERS Bank Bailout Bill SB 804–April 10

The Senate Committee on General Government, Consumer and Small Business Protection has scheduled a public hearing and possible work session on SB 804, the Bankers’ Bailout Bill. The Bailout Bill contains a parade of horribles that go far beyond a so-called MERS fix, rolling back a host of consumer protections, retroactively blessing thousands of illegal […]

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