Credit unions

TopicBill numbersort iconAuthorInterest positionBecame law
An Act to Amend Section 2920.5 of the Civil Code, Relating to Mortgages and Deeds of Trust. AB 244 (2015-2016) EggmanOpposeNo
Existing law imposes various requirements to be satisfied prior to exercising a power of sale under a mortgage or deed of trust. Existing law defines a mortgage servicer as a person or entity who… More
Existing law imposes various requirements to be satisfied prior to exercising a power of sale under a mortgage or deed of trust. Existing law defines a mortgage servicer as a person or entity who directly services a loan, or is responsible for interacting with the borrower, and managing the loan account on a daily basis, as specified. Existing law defines a borrower, for purposes of specified provisions relating to mortgages and deeds of trust, as a natural person who is a mortgagor or trustor who is potentially eligible for any federal, state, or proprietary foreclosure prevention alternative program offered by, or through, his or her mortgage servicer. This bill would include a successor in interest in the definition of a borrower for purposes of the eligibility provisions described above. The bill would define a successor in interest for these purposes as a natural person who provides the mortgage servicer with notification of the death of the mortgagor or trustor and reasonable documentation, as specified, showing that the person is a surviving spouse, as specified. Hide
An Act to Amend Section 17144.5 of the Revenue and Taxation Code, Relating to Taxation, and Declaring the Urgency Thereof, to Take Effect Immediately. AB 99 (2015-2016) PereaSupportNo
The Personal Income Tax Law provides for modified conformity to specified provisions of federal income tax law relating to the exclusion of the discharge of qualified principal residence… More
The Personal Income Tax Law provides for modified conformity to specified provisions of federal income tax law relating to the exclusion of the discharge of qualified principal residence indebtedness, as defined, from an individual’s income if that debt is discharged after January 1, 2007, and before January 1, 2014, as provided. The federal Tax Increase Prevention Act of 2014 extended the operation of those provisions to debt that is discharged before January 1, 2015. This bill would conform to that federal extension, discharge indebtedness for related penalties and interest, and make legislative findings and declarations regarding the public purpose served by the bill. This bill would declare that it is to take effect immediately as an urgency statute. Hide
Relative to Cannabis Businesses. AJR 25 (2015-2016) LackeySupportYes
This measure would memorialize the President and Congress of the United States to support legislation that will provide a comprehensive solution to allow banks and credit unions to perform financial… More
This measure would memorialize the President and Congress of the United States to support legislation that will provide a comprehensive solution to allow banks and credit unions to perform financial services for marijuana businesses. Hide
An Act to Amend, Add, and Repeal Sections 472 and 472a Of, and to Add and Repeal Section 430.41 Of, the Code of Civil Procedure, Relating to Civil Procedure. SB 383 (2015-2016) WieckowskiOpposeYes
Under existing law, a party in a civil action may object to a complaint, cross-complaint, or answer by demurrer, as specified. Existing law authorizes a party to amend a pleading once without leave… More
Under existing law, a party in a civil action may object to a complaint, cross-complaint, or answer by demurrer, as specified. Existing law authorizes a party to amend a pleading once without leave of the court at any time before an answer or demurrer is filed, or after a demurrer is filed and before the trial of the issue of law thereon. This bill would require a demurring party in certain civil actions, before filing the demurrer, to engage in a specified meet and confer process with the party who filed the pleading demurred to for the purpose of determining whether an agreement can be reached as to the filing of an amended pleading that would resolve the objections to be raised in the demurrer. The bill would prohibit a party from amending a complaint or cross-complaint more than 3 times in response to a demurrer filed before the case is at issue, except as specified. The bill would prohibit a party from demurring to a pleading that is amended following a sustained demurrer as to any portion of the amended pleading on grounds that could have been raised by the prior demurrer. This bill would also authorize a party to amend a pleading after a demurrer is filed but before it is heard by the court if the amended pleading is filed and served before the date for filing an opposition to the demurrer. The bill would authorize a party to amend a pleading after the date for filing an opposition to the demurrer upon stipulation by the parties. The bill would repeal its provisions on January 1, 2021. The bill would require a demurring party, in some circumstances, to file a declaration under penalty of perjury. By expanding the scope of the crime of perjury, this bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason. Hide
An Act to Amend Section 115 of the Penal Code, Relating to Falsified Public Documents. AB 1698 (2013-2014) WagnerOpposeYes
Under existing law, a person who knowingly procures or offers any false or forged instrument to be filed, registered, or recorded in any public office within this state, which instrument, if genuine,… More
Under existing law, a person who knowingly procures or offers any false or forged instrument to be filed, registered, or recorded in any public office within this state, which instrument, if genuine, might be filed, registered, or recorded under any law of this state or of the United States, is guilty of a felony. This bill would provide that after a person is convicted of a violation of that law, or a plea is entered whereby a charge alleging a violation of that law is dismissed and a waiver is obtained as specified, upon written motion of the prosecuting agency, the court, after a hearing, as specified, is required to issue a written order that the false or forged instrument be adjudged void ab initio if the court determines that an order is appropriate under applicable law. The bill would require the order to state whether the instrument is false or forged, or both false and forged, and describe the nature of the falsity or forgery. The bill would require a copy of the instrument to be attached to the order, at the time the order is issued by the court, and a certified copy of the order to be filed, registered, or recorded at the appropriate public office by the prosecuting agency. The bill would require a prosecuting agency to follow specific procedures for filing the motion, including, but not limited to, requirements to provide notice to interested parties, including, when a criminal action has commenced that may result in adjudications against the false or forged instrument or the property affected by the false or forged instrument. The bill would require a court to take specified procedural actions. Hide
An Act to Amend Section 9503 Of, and to Add Chapter 9 (Commencing with Section 9901) to Division 9 Of, the Commercial Code, Relating to Secured Transactions. AB 1858 (2013-2014) PereaSupportYes
The Uniform Commercial Code - Secured Transactions governs security interests in collateral, including personal property and fixtures, as well as certain sales of accounts, contract rights, and… More
The Uniform Commercial Code - Secured Transactions governs security interests in collateral, including personal property and fixtures, as well as certain sales of accounts, contract rights, and chattel paper. That code, among other things, specifies requirements and procedures regarding perfecting a security interest, including the filing of a financing statement with the Secretary of State. Existing law specifies that a financing statement sufficiently provides the name of a debtor, where the debtor is an individual, if it provides the individual name of the debtor or the surname and first personal name of the debtor. This bill would revise the manner in which a financing statement sufficiently provides the name of the debtor, where that debtor is an individual, to provide that, where the Department of Motor Vehicles has issued a driver’s license that has not expired or identification card that has not expired to the individual, the statement sufficiently provides the name of the debtor only if the statement provides the name of the individual indicated on the license or card and, if the individual has not been issued a driver’s license or identification card, the statement sufficiently provides the name of the debtor if it provides the individual name of the debtor or the surname and first personal name of the debtor. The bill would also implement transitional rules for carrying out these provisions. Existing provisions of the Unruh Civil Rights Act, with certain exceptions, prohibit various forms of arbitrary discrimination by business establishments. This bill would make it a violation of the Unruh Civil Rights Act for a secured party or proposed secured party to decline to provide credit to a debtor or proposed debtor, or offer to make the terms and conditions of such credit less favorable to the debtor or proposed debtor, if that decision was based on the fact that the debtor’s name to be included on the financing statement is or would be that provided by a debtor to whom the Department of Motor Vehicles has not issued a driver’s license that has not expired or an identification card that has not expired and all elements that would be required to establish a claim for violation of the Unruh Civil Rights Act are established. Hide
An Act to Add Article 7 (Commencing with Section 5430) to Chapter 8 of Division 2 of the Public Utilities Code, Relating to Transportation. AB 2293 (2013-2014) BonillaSupportYes
Existing law, the Passenger Charter-party Carriers’ Act, provides for the regulation of charter-party carriers of passengers by the Public Utilities Commission, and makes it unlawful for a… More
Existing law, the Passenger Charter-party Carriers’ Act, provides for the regulation of charter-party carriers of passengers by the Public Utilities Commission, and makes it unlawful for a charter-party carrier to operate without first obtaining a permit or certificate, from the commission, except as specified. The act requires a charter-party carrier to, among other things, comply with specified vehicle identification and accident liability protection requirements. A violation of the act is generally a misdemeanor, punishable by a specified fine or term of imprisonment, or both, depending on the violation. This bill would amend the Passenger Charter-party Carriers’ Act to enact specified requirements for liability insurance coverage for transportation network companies, as defined, and their participating drivers. These requirements would become operative on July 1, 2015. The bill would describe 2 distinct time periods and would specify the insurance requirements for each of those time periods and alternative methods of compliance with those requirements. The bill would require uninsured and underinsured motorist coverage to be provided for specified time periods. The bill would, in the event a driver’s insurance policy ceases to exist or has been canceled, or under certain other circumstances, require a transportation network company’s insurance policy to provide the required coverage. The bill, beginning July 1, 2015, would provide that a participating driver’s or vehicle owner’s personal automobile insurance policy does not provide coverage to the participating driver, vehicle owner, or any 3rd party unless the policy so provides. The bill, beginning July 1, 2015, would require certain written disclosures by transportation network companies to their participating drivers on the insurance coverage provided by the company and to advise that the driver’s personal automobile insurance policy will not provide coverage. The bill would authorize a personal automobile insurer to offer such coverage at its discretion to cover private vehicles, as specified. The bill would require participating drivers to carry proof of insurance coverage, as specified. The bill would require the commission and the Department of Insurance to collaborate on a study of transportation network company insurance, as specified, and would prohibit a transportation network company from disclosing the personally identifiable information of a passenger, except as specified. The bill would specify the Legislature’s intent relating to expediting the approval of transportation network company insurance products, and would set forth related legislative findings and declarations. Because a violation of the bill’s provisions would be a crime, the bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason. Hide
An Act to Amend Sections 12209, 17053.57, and 23657 of the Revenue and Taxation Code, Relating to Taxation, to Take Effect Immediately, Tax Levy. AB 32 (2013-2014) PerezSupportYes
Existing laws governing the taxation of insurers, the Personal Income Tax Law, and the Corporation Tax Law, authorize, until January 1, 2017, a credit in an amount equal to 20% of a qualified… More
Existing laws governing the taxation of insurers, the Personal Income Tax Law, and the Corporation Tax Law, authorize, until January 1, 2017, a credit in an amount equal to 20% of a qualified investment, as defined, made into a community development financial institution, as defined, but not to exceed, in the aggregate amount under all those laws, $10,000,000 per year. Existing law provides that a credit shall not be allowed under those laws unless the California Organized Investment Network certifies that the investment made by the taxpayer is a qualified investment, as defined. Existing law requires a community development financial institution to apply to the California Organized Investment Network on behalf of the taxpayer for certification of the amount of the investment and the credit amount allocated to the taxpayer. The bill would increase the $10,000,000 limitation on the aggregate amount of qualified investments to $50,000,000. This bill would require a community development financial institution to provide in the application a detailed description of the intended use of the investment funds, as described, and to provide specified information about the taxpayer. This bill would require the California Organized Investment Network, when accepting and evaluating applications for certification from any community development financial institution on behalf of the taxpayer and issuing certificates, to grant highest priority to those applications where the intended use of the investments has the greatest aggregate benefit for low-to-moderate income areas or households or rural areas or households. This bill would require the Insurance Commissioner to establish tax credit issuance cycles throughout the year as necessary in order to issue tax credit certificates to those applications granted the highest priority. This bill would prohibit the total amount of investments certified by the California Organized Investment Network in any calendar year to any one community development financial institution from exceeding 30% of the annual aggregate amount of qualified investments, except as specified. This bill would require that each year 10% of the annual aggregate amount of qualified investments be reserved for investment amounts of less than or equal to $200,000, as specified. This bill would also allow the California Organized Investment Network to certify investments for the credit until January 1, 2017. This bill would require, on or before June 30, 2016, the Legislative Analyst’s Office to submit a report to the Legislature on the effects of the tax credits allowed, with a focus on employment in low-to-moderate income and rural areas, and on the benefits of these tax credits to low-to-moderate income and rural persons. Existing law authorizes the Insurance Commissioner to issue regulations to implement the credit. This bill would instead authorize the Insurance Commissioner to adopt, amend, or repeal regulations to implement the credit, and would deem the initial adoption of the regulations to be emergency regulations, as specified. Existing law authorizes the California Organized Investment Network, in allocating qualified investment credits, when certain conditions are met, to prioritize applications for those credits, as specified. This bill would revise those conditions. This bill would include a change in state statute that would result in a taxpayer paying a higher tax within the meaning of Section 3 of Article XIIIA of the California Constitution, and thus would require for passage the approval of 23 of the membership of each house of the Legislature. This bill would take effect immediately as a tax levy. Hide
An Act to Amend Section 17144.5 of the Revenue and Taxation Code, Relating to Taxation, to Take Effect Immediately, Tax Levy. AB 42 (2013-2014) PereaSupportNo
The Personal Income Tax Law conforms to specified provisions of federal law relating to the exclusion of the discharge of qualified principal residence indebtedness, as defined, from an… More
The Personal Income Tax Law conforms to specified provisions of federal law relating to the exclusion of the discharge of qualified principal residence indebtedness, as defined, from an individual’s income if that debt is discharged after January 1, 2007, and before January 1, 2013, as provided. The federal American Taxpayer Relief Act of 2012 extended the operation of those provisions to debt that is discharged before January 1, 2014. This bill would conform to the federal extension. This bill would take effect immediately as a tax levy. Hide
An Act to Amend Sections 1747.02 and 1747.08 of the Civil Code, Relating to Credit Cards. SB 383 (2013-2014) JacksonOpposeNo
Existing state and federal law regulates the provision of credit and the use of credit cards. The Song-Beverly Credit Card Act of 1971 generally regulates credit card transactions and prohibits a… More
Existing state and federal law regulates the provision of credit and the use of credit cards. The Song-Beverly Credit Card Act of 1971 generally regulates credit card transactions and prohibits a person or entity that accepts credit cards for the transaction of business from requesting, or requiring as a condition to accepting the credit card, that the cardholder write any personal identification information, as defined, upon the credit card transaction form or otherwise. Existing law prohibits a person or entity that accepts credit cards for the transaction of business from requesting, or requiring as a condition to accepting the credit card, that the cardholder provide his or her personal identification information to the person or entity to be written or caused to be written upon the credit card transaction form or otherwise. Notwithstanding those provisions, existing law authorizes a person or entity that accepts credit cards for the transaction of business to require the cardholder, as a condition to accepting the credit card, to provide reasonable forms of positive identification, which may include a driver’s license or a California state identification card, provided that the information is not written or recorded on the credit card transaction form or otherwise. Existing law authorizes the use of ZIP Code information in a sales transaction at a retail motor fuel dispenser or retail motor fuel payment island with an automated cashier that uses the ZIP Code information solely for prevention of fraud, theft, or identity theft. This bill would authorize a person or entity that accepts credit cards in an online transaction involving an electronic downloadable product, as defined, to require a cardholder, as a condition to accepting a credit card as payment in full or in part, in an online transaction involving an electronic downloadable product, to provide personal identification information, as defined, if it requires that information for the detection, investigation, or prevention of fraud, theft, identity theft, or criminal activity, or for enforcement of terms of sale, and the personal identification information is used solely for those purposes. The bill would require that person or entity to destroy or dispose of the personal identification information it requires in a secure manner after it is no longer needed for those purposes. The bill would prohibit that person or entity from aggregating personal identification information and from sharing personal identification information it requires with any other person or entity, as specified. The bill, notwithstanding the foregoing provisions, would also authorize a person or entity accepting a credit card in an online transaction involving an electronic downloadable product to require a consumer to establish an account as a condition for purchase of the product and to provide personally identifiable information in connection with that account, as specified. The bill would also authorize a consumer, concurrent with completing a transaction for an electronically downloadable product, to elect to opt in to the collection and use of personally identifiable information provided certain disclosures are made and he or she is permitted to opt out prior to completing the transaction. Hide
An Act to Add Section 27388.1 to the Government Code, and to Add Chapter 2.5 (Commencing with Section 50470) to Part 2 of Division 31 of the Health and Safety Code, Relating to Housing, Making an Appropriation Therefor, and Declaring the Urgency Thereof, to Take Effect Immediately. SB 391 (2013-2014) DeSaulnierOpposeNo
Under existing law, there are programs providing assistance for, among other things, emergency housing, multifamily housing, farmworker housing, home ownership for very low and low-income households,… More
Under existing law, there are programs providing assistance for, among other things, emergency housing, multifamily housing, farmworker housing, home ownership for very low and low-income households, and downpayment assistance for first-time homebuyers. Existing law also authorizes the issuance of bonds in specified amounts pursuant to the State General Obligation Bond Law. Existing law requires that proceeds from the sale of these bonds be used to finance various existing housing programs, capital outlay related to infill development, brownfield cleanup that promotes infill development, and housing-related parks. This bill would enact the California Homes and Jobs Act of 2013. The bill would make legislative findings and declarations relating to the need for establishing permanent, ongoing sources of funding dedicated to affordable housing development. The bill would impose a fee, except as provided, of $75 to be paid at the time of the recording of every real estate instrument, paper, or notice required or permitted by law to be recorded. By imposing new duties on counties with respect to the imposition of the recording fee, the bill would create a state-mandated local program. The bill would require that revenues from this fee be sent quarterly to the Department of Housing and Community Development for deposit in the California Homes and Jobs Trust Fund, which the bill would create within the State Treasury. The bill would provide that moneys in the fund may be expended for supporting affordable housing, administering housing programs, and the cost of periodic audits, as specified. The bill would impose certain auditing and reporting requirements. Existing law requires the Department of Industrial Relations to monitor and enforce compliance with applicable prevailing wage requirements for specified public works projects that are funded by state bond proceeds. Moneys collected for this purpose are continuously appropriated to the department from the State Public Works Enforcement Fund to cover the costs of these monitoring and enforcement duties. This bill would require the Department of Industrial Relations to monitor and enforce prevailing wage requirements for construction contracts for certain public works projects over $1,000,000, that are funded, in whole or in part, by the bill. The bill would authorize the department to charge each person or entity awarding a construction contract for the reasonable and directly related costs of the monitoring and enforcement activities, and would require the department to deposit the moneys collected into the State Public Works Enforcement Fund. The bill would exempt projects with a collective bargaining agreement with a mechanism for resolution of wage disputes from this requirement. By establishing a new source of revenue for a continuously appropriated fund, this bill would make an appropriation. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason. This bill would declare that it is to take effect immediately as an urgency statute. Hide
An Act to Add Chapter 5.3 (Commencing with Section 42280) to Part 3 of Division 30 of the Public Resources Code, Relating to Solid Waste. SB 405 (2013-2014) PadillaOpposeNo
Existing law, until January 1, 2020, requires an operator of a store, as defined, to establish an at-store recycling program that provides to customers the opportunity to return clean plastic… More
Existing law, until January 1, 2020, requires an operator of a store, as defined, to establish an at-store recycling program that provides to customers the opportunity to return clean plastic carryout bags to that store. With specified exceptions, this bill, as of January 1, 2015, would prohibit stores that have a specified amount of dollar sales or retail floor space from providing a single-use carryout bag to a customer. The bill, on and after July 1, 2016, would additionally impose this prohibition on convenience food stores, foodmarts, and certain other specified stores. The bill would require all of these stores to meet other specified requirements regarding providing recycled paper bags, compostable bags, or reusable grocery bags to customers.The bill would require a reusable grocery bag that a store is required to sell on and after July 1, 2016, to meet specified requirements. A violation of that requirement and the requirements that would be imposed upon grocery bag producers to submit certain laboratory test results would be subject to an administrative civil penalty assessed by the Department of Resources Recycling and Recovery. The department would be required to deposit these penalties into the Reusable Bag Account, which would be created in the Integrated Waste Management Fund, for expenditure by the department, upon appropriation by the Legislature, to implement those requirements. The bill would allow a city, county, or city and county, or the state to impose civil penalties for a violation of the bill’s requirements. The bill would require these civil penalties to be paid to the office of the city attorney, city prosecutor, district attorney, or Attorney General, whichever office brought the action, and would allow the penalties collected by the Attorney General to be expended by the Attorney General, upon appropriation by the Legislature, to enforce the bill’s provisions. The bill would provide that these remedies are not exclusive, as specified.The bill would declare that it occupies the whole field of the regulation of reusable grocery bags, single-use carryout bags, and recycled paper bags and would prohibit a local public agency, on and after January 1, 2014, from enforcing or implementing an ordinance, resolution, regulation, or rule adopted on or after September 1, 2013, relating to those bags, unless expressly authorized. The bill would allow a local public agency that has adopted such an ordinance, resolution, regulation, or rule prior to September 1, 2013, to continue to enforce and implement that ordinance, resolution, regulation, or rule, but would require any amendments to that ordinance, resolution, regulation, or rule to be subject to state preemption. Hide
An Act to Add and Repeal Article 3 (Commencing with Section 78040) of Chapter 1 of Part 48 of Division 7 of Title 3 of the Education Code, Relating to Public Postsecondary Education. SB 850 (2013-2014) BlockSupportYes
Existing law establishes the California Community Colleges, under the administration of the Board of Governors of the California Community Colleges, as one of the segments of public postsecondary… More
Existing law establishes the California Community Colleges, under the administration of the Board of Governors of the California Community Colleges, as one of the segments of public postsecondary education in this state. Existing law requires the board of governors to appoint a chief executive officer, to be known as the Chancellor of the California Community Colleges. Existing law establishes community college districts, administered by governing boards, throughout the state, and authorizes these districts to provide instruction to students at the community college campuses maintained by the districts. Existing law requires community colleges to offer instruction through, but not beyond, the 2nd year of college and authorizes community colleges to grant associate degrees in arts and science. This bill would, commencing January 1, 2015, authorize the board of governors, in consultation with the California State University and the University of California, to establish a statewide baccalaureate degree pilot program at not more than 15 community college districts, with one baccalaureate degree program each, to be determined by the chancellor and approved by the board of governors. The bill would prohibit each participating district from offering more than one baccalaureate degree program within the district, as specified. The bill would require a district baccalaureate degree pilot program to commence by the beginning of the 2017–18 academic year, and would require a student participating in a baccalaureate degree pilot program to complete his or her degree by the end of the 2022–23 academic year. The bill would require participating community college districts to meet specified requirements, including, but not limited to, offering baccalaureate degree programs and program curricula not offered by the California State University or the University of California, and in subject areas with unmet workforce needs, as specified. This bill would also require the governing board of a participating community college district to submit certain items for review by the chancellor and approval by the board of governors, including, among other things, the administrative plan for the baccalaureate degree pilot program and documentation of consultation with the California State University and the University of California. The bill would provide that the Legislative Analyst’s Office shall conduct both a statewide interim evaluation and a statewide final evaluation of the statewide baccalaureate degree pilot program implemented under this article, as specified, and report to the Legislature and Governor, in writing, the results of the interim evaluation on or before July 1, 2018, and the results of the final evaluation on or before July 1, 2022. The bill would provide that on or before March 31, 2015, the board of governors shall develop, and adopt by regulation, a funding model for the support of the statewide baccalaureate degree pilot program, as specified. This bill would make these provisions inoperative on July 1, 2023, and would repeal the provisions on January 1, 2024. Hide
An Act to Add Section 1798.825 to the Civil Code, Relating to Internet Transactions. AB 1080 (2011-2012) CalderonOpposeNo
Existing law sets forth comprehensive provisions governing funds transfers, as defined, including provisions related to the issuance and acceptance of payment orders, requirements for verification,… More
Existing law sets forth comprehensive provisions governing funds transfers, as defined, including provisions related to the issuance and acceptance of payment orders, requirements for verification, the effect of errors, the effect of acceptance of a payment order, and related provisions. This bill would require a business that provides banking or other financial services and that allows for the movement of specified funds over the Internet to collect, report, and update, on a quarterly basis, information relating to unauthorized transfers of funds over the Internet. This bill would also require these banks or financial institutions to post this report at each of their locations within the state, or on its Internet Web site, as specified. Hide
An Act to Amend Sections 2923.5 and 2924g Of, to Amend and Repeal Section 2924 Of, and to Add Sections 2923.6, 2924.9, 2924.10, 2924.11, 2924.12, 2924.13, 2924.14, 2924.15, and 2924.16 To, the Civil Code, Relating to Mortgages. AB 1602 (2011-2012) EngOpposeNo
(1)Existing law, until January 1, 2013, requires a mortgagee, trustee, beneficiary, or authorized agent to contact the borrower prior to filing a notice of default to explore options for the borrower… More
(1)Existing law, until January 1, 2013, requires a mortgagee, trustee, beneficiary, or authorized agent to contact the borrower prior to filing a notice of default to explore options for the borrower to avoid foreclosure, as specified. Existing law requires a notice of default to include a declaration stating that the trustee, beneficiary, or authorized agent has contacted the borrower, or has tried with due diligence to contact the borrower, or that no contact was required for a specified reason. This bill would additionally require the borrower to be provided, if applicable, with a deadline for the borrower to submit an initial application for a loan modification. The bill would require the declaration to also state that the borrower was not a servicemember or dependent of a servicemember entitled to benefits under the federal Servicemembers Civil Relief Act, that the mortgagee, trustee, beneficiary, or authorized agent has possession of the note and mortgage, or deed of trust, and other specified documents that evidence the right to foreclose, and has attached copies thereof to the declaration, as specified, or a separate declaration containing specified information, if the above described documents cannot be located. The bill would prescribe procedures and notices that must be sent by the mortgagee, trustee, beneficiary, or authorized agent if the notice of default was filed prior to January 1, 2013, and a notice of rescission was not subsequently recorded. The bill would prohibit recording a notice of default unless a specified written notice has been sent at least 14 days before a notice of default is recorded. The bill would prohibit a notice of default from being recorded while a loan modification application is pending, under specified conditions, and would establish additional procedures to be followed regarding the loan modification application before a notice of default could be recorded. (2)Existing law imposes various requirements that must be satisfied prior to exercising a power of sale under a mortgage or deed of trust, including, among other things, recording a notice of sale. This bill would impose additional requirements pertaining to applications for loan modifications that must be satisfied prior to recording a notice of sale in order to exercise a power of sale. The bill would require a written notice to the borrower after the postponement of a foreclosure sale in order to advise the borrower of any new sale date, time, and location when the new sale date is at least 10 calendar days after the date of postponement, as specified. The bill would establish procedures for a loan modification application process to be used after a notice of sale has been recorded. The bill would prohibit a notice of sale from being recorded under certain conditions, including, among others, if the borrower is in compliance with a loan modification plan, forbearance, or loan repayment plan, as specified, or if a short sale or deed-in-lieu of foreclosure has been approved, as specified. The bill would require mortgagees, trustees, beneficiaries, or authorized agents to track and record specified data pertaining to loan modification agreements. The bill would prohibit the collection of late fees while a loan modification or short sale is being considered, if certain criteria are met. (3)The bill would repeal duplicate provisions of law. (4)The bill would authorize a borrower to seek an injunction of a pending trustee’s sale if a notice of sale has been recorded and the borrower reasonably believes that the mortgagee, trustee, beneficiary, or authorized agent failed to comply with specified requirements. The bill would authorize the greater of actual damages or $10,000 in statutory damages if there is a failure to comply with specified requirements by the mortgagee, trustee, beneficiary, or authorized agent and the property is sold at a foreclosure sale. The bill would authorize the greater of treble damages or $50,000 in statutory damages if the failure to comply is found to be intentional or reckless or resulted from willful misconduct, as specified. (5)The bill would establish the Office of Homeowner Protection, that would have responsibility, among other things, for responding to inquiries and complaints from individuals regarding foreclosures and other procedures and requirements as described above, attempting to seek compliance by mortgagees, trustees, beneficiaries, or authorized agents regarding foreclosures and other procedures and requirements as described above, and maintaining an Internet Web site that is capable of receiving inquiries and complaints from individuals and that provides information to the public about publicly available resources intended to help individuals avoid foreclosure. The bill would express the intent of the Legislature that the office be funded by payments made available to the Attorney General via the Special Deposit Fund, created pursuant to specified federal settlement agreements. Hide
An Act to Add Section 14800.1 to the Financial Code, Relating to Credit Unions. AB 2006 (2011-2012) PerezSupportYes
Existing law prohibits an officer, director, committee member, or employee of a credit union from extending any benefit or service of the credit union to any person, unless that person is admitted to… More
Existing law prohibits an officer, director, committee member, or employee of a credit union from extending any benefit or service of the credit union to any person, unless that person is admitted to membership in the credit union. Existing law also prohibits a credit union from creating any obligation with a person who is not admitted to membership in the credit union, except as specified. A knowing or willful violation of these provisions is a crime, as specified. This bill would authorize a credit union to sell, to a natural person in the field of membership, regardless of whether the person is admitted to membership, checks, as defined, and other similar money transfer instruments, including domestic and international electronic funds transfers. The bill would authorize a credit union to cash checks and other similar money transfer instruments and to receive international and domestic electronic fund transfers for those persons. The bill would also authorize a credit union to charge a fee for providing these services, not to exceed the cost of providing the services. Hide
An Act to Amend Section 2929.3 of the Civil Code, and to Amend Sections 17980 and 17980.7 of the Health and Safety Code, Relating to Real Property. AB 2314 (2011-2012) CarterSupportYes
(1)Existing law, until January 1, 2013, requires a legal owner to maintain vacant residential property purchased at a foreclosure sale or acquired by that owner through foreclosure under a mortgage… More
(1)Existing law, until January 1, 2013, requires a legal owner to maintain vacant residential property purchased at a foreclosure sale or acquired by that owner through foreclosure under a mortgage or deed of trust. Existing law, until January 1, 2013, authorizes a governmental entity to impose civil fines and penalties for failure to maintain that property of up to $1,000 per day for a violation. Existing law, until January 1, 2013, requires a governmental entity that seeks to impose those fines and penalties to give notice of the claimed violation and an opportunity to correct the violation at least 14 days prior to imposing the fines and penalties, and to allow a hearing for contesting those fines and penalties. This bill would delete the repeal clause for these provisions and thus extend the operation of these provisions indefinitely. (2)The State Housing Law requires the housing or building department or, if there is no building department, the health department, of every city, county, or city and county, or a specified environmental agency, to enforce within its jurisdiction all of the State Housing Law, the building standards published in the State Building Standards Code, and other specified rules and regulations. If there is a violation of these provisions or any order or notice that gives a reasonable time to correct that violation, or if a nuisance exists, an enforcement agency is required, after 30 days’ notice to abate the nuisance, to institute any appropriate action or proceeding to prevent, restrain, correct, or abate the violation or nuisance. This bill would prohibit an enforcement agency from commencing any action or proceeding until at least 60 days after a person takes title to the property, unless a shorter period of time is deemed necessary by the enforcement agency in its sole discretion, as specified, if the person has purchased and is in the process of diligently abating any violation at a residential property that had been foreclosed on or after January 1, 2008. This bill would require any entity that releases a lien securing a deed of trust or mortgage on a property for which a notice of pendency of action, as defined, has been recorded against the property, as specified, to notify in writing the enforcement agency that issued the order or notice within 30 days of releasing the lien. (3)Existing law authorizes, among other things, the enforcement agency to seek and the court to order imposition of specified penalties or the enforcement agency, tenant, or tenant association or organization to seek, and the court to order, the appointment of a receiver for a substandard building, if the owner of the property fails to comply within a reasonable time with the terms of an order or notice. This bill would authorize a court to require the owner of the property to pay all unrecovered costs associated with the receivership in addition to any other remedy authorized by law. Hide
An Act to Amend Section 2932.5 Of, to Amend and Repeal Section 2924 Of, and to Add Sections 2920.5, 2923.7, 2924.17, and 2924.18 To, the Civil Code, Relating to Mortgages. AB 2425 (2011-2012) MitchellOpposeNo
(1)Existing law prescribes foreclosure procedures, including, among other things, procedures for recording a notice of default, recording a notice of sale, and conducting a foreclosure sale. This… More
(1)Existing law prescribes foreclosure procedures, including, among other things, procedures for recording a notice of default, recording a notice of sale, and conducting a foreclosure sale. This bill would define a mortgage servicer, and would, commencing July 1, 2013, require a mortgage servicer to establish a single point of contact when a borrower on a residential mortgage or deed of trust is 60 or more days delinquent, has had a notice of default recorded, or is seeking a loan modification or other loss mitigation, as specified. The bill would impose various obligations on the single point of contact in connection with loan modification or other loss mitigation options. (2)Existing law imposes various requirements that must be satisfied prior to exercising a power of sale under a mortgage or deed of trust, including, among other things, recording a notice of default. This bill would prohibit an entity from recording a notice of default or otherwise initiating foreclosure procedures unless the entity is the holder of the beneficial interest under the deed of trust, and would prohibit an entity acting as an agent from doing so without specific direction from the actual owner of the beneficial interest under the deed of trust. (3)Existing law authorizes the recording by the county recorder of various documents. This bill would provide that a document that contains factual assertions that are not accurate, are incomplete, or are unsupported by competent, reliable evidence, or a document that has not been reviewed by its signer to substantiate the factual assertions contained in the document is a robosigned document. The bill would provide that any entity that records a robosigned document, or files a robosigned document in a court relative to a foreclosure proceeding is liable for a civil penalty of $10,000 for each robosigned document. The bill would authorize specified governmental entities to enforce the civil penalty, and would authorize the Department of Real Estate, the Department of Corporations, and the Department of Financial Institutions to enforce the civil penalty provisions against their respective licensees. (4)The bill would authorize a borrower to seek an injunction of a pending trustee’s sale, if a notice of sale has been recorded and the borrower reasonably believes that the mortgagee, trustee, beneficiary, or authorized agent failed to comply with specified requirements. The bill would authorize the greater of actual damages or $10,000 in statutory damages if there is a failure to comply with specified requirements by the mortgagee, trustee, beneficiary, or authorized agent and the property is sold at a foreclosure sale. The bill would authorize the greater of treble damages or $50,000 in statutory damages if the failure to comply is found to be intentional or reckless or resulted from willful misconduct, as specified. (5)Existing law provides that where the power to sell real property is given to a mortgagee or other encumbrancer, in an instrument intended to secure the payment of money, the power is part of the security and vests with any person who by assignment becomes entitled to payment of the money. This bill would expand these provisions to include a power to sell real property given to a trustee or a beneficiary of a deed of trust in an instrument intended to secure the payment of money. (6)The bill would repeal duplicate provisions of law. Hide
An Act to Amend Section 2924.8 of the Civil Code, and to Amend Sections 415.46 and 1161b of the Code of Civil Procedure, Relating to Tenants. AB 2610 (2011-2012) SkinnerSupportYes
(1)Existing law requires a notice of sale to be posted before any power of sale can be exercised under the power of sale contained in any deed of trust or mortgage. Existing law, until January 1,… More
(1)Existing law requires a notice of sale to be posted before any power of sale can be exercised under the power of sale contained in any deed of trust or mortgage. Existing law, until January 1, 2013, requires a resident of property upon which a notice of sale has been posted to be provided a specified notice advising the resident that, among other things, if the person is renting the property, the new property owner may either give the tenant a new lease or rental agreement, or provide the tenant with a 60-day eviction notice, and that other laws may prohibit the eviction or provide the tenant with a longer notice before eviction. Existing law makes it an infraction to tear down the notice within 72 hours of posting. Existing law requires a state government entity to make translations of the notice available in 5 specified languages, for use by a mortgagee, trustee, beneficiary, or authorized agent, in order to satisfy the notice requirements. This bill would revise certain portions of the notice to instead require a resident of property upon which a notice of sale has been posted to be advised that if the person is renting the property, the new property owner may either give the tenant a new lease or rental agreement, or provide the tenant with a 90-day eviction notice. The bill would require the notice to advise a tenant who has a lease that the new property owner is required to honor the lease unless the new owner will occupy the property as a primary residence or under other limited circumstances. The bill would require the Department of Consumer Affairs to make translations of the notice available, as described above. The bill would provide that these changes to the notice would become operative on March 1, 2013, or 60 days following posting of a dated notice incorporating those amendments on the Department of Consumer Affairs Internet Web site, whichever date is later. The bill would extend the operation of these provisions until December 31, 2019. By extending the operation of provisions establishing a crime, this bill would impose a state-mandated local program. (2)Existing law provides, that in an unlawful detainer action, if an owner or owner’s agent has obtained service of a prejudgment claim of right to possession, as specified, no occupant of the premises, whether or not that occupant is named in the judgment for possession, may object to the enforcement of the judgment, as specified. This bill would provide that in any action for unlawful detainer resulting from a foreclosure sale of a rental housing unit pursuant to specified provisions, the above provisions regarding objection to the enforcement of a judgment do not limit the right of a tenant or subtenant to file a prejudgment claim of right of possession or to object to enforcement of a judgment for possession, regardless of whether the tenant or subtenant was served with a prejudgment claim of right to possession, as specified. (3)Existing law, until January 1, 2013, requires a tenant or subtenant in possession of a rental housing unit at the time that property is sold in foreclosure to be provided 60 days’ written notice to quit before the tenant or subtenant may be removed from the property, as specified. This bill would instead require a tenant or subtenant in possession of a rental housing unit under a month-to-month lease at the time that property is sold in foreclosure to be provided 90 days’ written notice to quit before the tenant or subtenant may be removed from the property. The bill would provide tenants or subtenants holding possession of a rental housing unit under a fixed-term residential lease entered into before transfer of title at the foreclosure sale the right to possession until the end of the lease term, except in specified circumstances. The bill would also extend the operation of these provisions until December 31, 2019. (4)The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason. Hide
AB 935 (2011-2012) BlumenfieldOpposeNo
An Act to Amend Section 2932.5 Of, to Amend and Repeal Section 2924 Of, and to Add Sections 2920.5, 2923.7, 2924.17, and 2924.18 To, the Civil Code, Relating to Mortgages. SB 1471 (2011-2012) DeSaulnierOpposeNo
(1)Existing law prescribes foreclosure procedures, including, among other things, procedures for recording a notice of default, recording a notice of sale, and conducting a foreclosure sale. This… More
(1)Existing law prescribes foreclosure procedures, including, among other things, procedures for recording a notice of default, recording a notice of sale, and conducting a foreclosure sale. This bill would define a mortgage servicer, and would, commencing July 1, 2013, require a mortgage servicer to establish a single point of contact when a borrower on a residential mortgage or deed of trust is 60 or more days delinquent, has had a notice of default recorded, or is seeking a loan modification or other loss mitigation, as specified. The bill would impose various obligations on the single point of contact in connection with loan modification or other loss mitigation options. (2)Existing law imposes various requirements that must be satisfied prior to exercising a power of sale under a mortgage or deed of trust, including, among other things, recording a notice of default. This bill would prohibit an entity from recording a notice of default or otherwise initiating foreclosure procedures unless the entity is the actual holder of the beneficial interest under the deed of trust, and would prohibit an entity acting as agent from doing so without specific direction from the actual owner of the beneficial interest under the deed of trust. The bill would authorize a borrower to seek an injunction of a pending trustee’s sale, if a notice of sale has been recorded and the borrower reasonably believes that the mortgagee, trustee, beneficiary, or authorized agent failed to comply with specified requirements. The bill would authorize the greater of actual damages or $10,000 in statutory damages if there is a failure to comply with specified requirements by the mortgagee, trustee, beneficiary, or authorized agent and the property is sold at a foreclosure sale. The bill would authorize the greater of treble damages or $50,000 in statutory damages if the failure to comply is found to be intentional or reckless or resulted from willful misconduct, as specified. (3)Existing law authorizes the recording by the county recorder of various documents. This bill would provide that a document that contains factual assertions that are not accurate, are incomplete, or are unsupported by competent, reliable evidence, or a document that has not been reviewed by its signer to substantiate the factual assertions contained in the document is a robosigned document. The bill would provide that any entity that records a robosigned document, or files a robosigned document in a court relative to a foreclosure proceeding is liable for a civil penalty of $10,000 for each robosigned document. The bill would authorize specified governmental entities to enforce the civil penalty, and would authorize the Department of Real Estate, the Department of Corporations, and the Department of Financial Institutions to enforce the civil penalty provisions against their respective licensees.(4)Existing law provides that where the power to sell real property is given to a mortgagee or other encumbrancer, in an instrument intended to secure the payment of money, the power is part of the security and vests with any person who by assignment becomes entitled to payment of the money.This bill would expand these provisions to include a power to sell real property given to a trustee or a beneficiary of a deed of trust in an instrument intended to secure the payment of money.(5)The bill would repeal duplicate provisions of law. Hide
An Act to Amend Section 2929.3 of the Civil Code, and to Amend Sections 17980 and 17980.7 of the Health and Safety Code, Relating to Real Property. SB 1472 (2011-2012) PavleySupportNo
(1)Existing law, until January 1, 2013, requires a legal owner to maintain vacant residential property purchased at a foreclosure sale or acquired by that owner through foreclosure under a mortgage… More
(1)Existing law, until January 1, 2013, requires a legal owner to maintain vacant residential property purchased at a foreclosure sale or acquired by that owner through foreclosure under a mortgage or deed of trust. Existing law, until January 1, 2013, authorizes a governmental entity to impose civil fines and penalties for failure to maintain that property of up to $1,000 per day for a violation. Existing law, until January 1, 2013, requires a governmental entity that seeks to impose those fines and penalties to give notice of the claimed violation and an opportunity to correct the violation at least 14 days prior to imposing the fines and penalties, and to allow a hearing for contesting those fines and penalties. This bill would delete the repeal clause for these provisions and thus extend the operation of these provisions indefinitely. (2)The State Housing Law requires the housing or building department or, if there is no building department, the health department, of every city, county, or city and county, or a specified environmental agency, to enforce within its jurisdiction all of the State Housing Law, the building standards published in the State Building Standards Code, and other specified rules and regulations. If there is a violation of these provisions or any order or notice that gives a reasonable time to correct that violation, or if a nuisance exists, an enforcement agency is required, after 30 days’ notice to abate the nuisance, to institute any appropriate action or proceeding to prevent, restrain, correct, or abate the violation or nuisance. This bill would prohibit an enforcement agency from commencing any action or proceeding until at least 60 days after a person takes title to the property, unless a shorter period of time is deemed necessary by the enforcement agency in its sole discretion, as specified, if the person has purchased and is in the process of diligently abating any violation at a residential property that had been foreclosed on or after January 1, 2008. This bill would require any entity that releases a lien securing a deed of trust or mortgage on a property for which a notice of pendency of action, as defined, has been recorded against the property, as specified, to notify, in writing, the enforcement agency that issued the order or notice within 30 days of releasing the lien. (3)Existing law authorizes, among other things, the enforcement agency to seek and the court to order imposition of specified penalties or the enforcement agency, tenant, or tenant association or organization to seek, and the court to order, the appointment of a receiver for a substandard building, if the owner of the property fails to comply within a reasonable time with the terms of an order or notice. This bill would authorize a court to require the owner of the property to pay all unrecovered costs associated with the receivership in addition to any other remedy authorized by law. Hide
An Act to Amend Section 2924.8 of the Civil Code, and to Amend Sections 415.46 and 1161b of the Code of Civil Procedure, Relating to Tenants. SB 1473 (2011-2012) HancockSupportNo
(1)Existing law requires a notice of sale to be posted before any power of sale can be exercised under the power of sale contained in any deed of trust or mortgage. Existing law, until January 1,… More
(1)Existing law requires a notice of sale to be posted before any power of sale can be exercised under the power of sale contained in any deed of trust or mortgage. Existing law, until January 1, 2013, requires a resident of property upon which a notice of sale has been posted to be provided a specified notice advising the resident that, among other things, if the person is renting the property, the new property owner may either give the tenant a new lease or rental agreement, or provide the tenant with a 60-day eviction notice, and that other laws may prohibit the eviction or provide the tenant with a longer notice before eviction. Existing law makes it an infraction to tear down the notice within 72 hours of posting. Existing law requires a state government entity to make translations of the notice available in 5 specified languages, for use by a mortgagee, trustee, beneficiary, or authorized agent, in order to satisfy the notice requirements. This bill would revise certain portions of the notice to instead require a resident of property upon which a notice of sale has been posted to be advised that if the person is renting the property, the new property owner may either give the tenant a new lease or rental agreement, or provide the tenant with a 90-day eviction notice. The bill would require the notice to advise a tenant who has a lease that the new property owner is required to honor the lease unless the new owner will occupy the property as a primary residence or under other limited circumstances. The bill would require the Department of Consumer Affairs to make translations of the notice available, as described above. The bill would provide that these changes to the notice would become operative on March 1, 2013, or 60 days following the issuance of an amended notice translation by the Department of Consumer Affairs Internet Web site, whichever date is later. The bill would extend the operation of these provisions until December 31, 2019. By extending the operation of provisions establishing a crime, this bill would impose a state-mandated local program. (2)Existing law provides that, in an unlawful detainer action, if an owner or owner’s agent has obtained service of a prejudgment claim of right to possession, as specified, no occupant of the premises, whether or not that occupant is named in the judgment for possession, may object to the enforcement of the judgment, as specified. This bill would provide that in any action for unlawful detainer resulting from a foreclosure sale of a rental housing unit pursuant to specified provisions, the above provisions regarding objection to the enforcement of a judgment do not limit the right of a tenant or subtenant to file a prejudgment claim of right of possession or to object to enforcement of a judgment for possession, regardless of whether the tenant or subtenant was served with a prejudgment claim of right to possession, as specified. (3)Existing law, until January 1, 2013, requires a tenant or subtenant in possession of a rental housing unit at the time that property is sold in foreclosure to be provided 60 days’ written notice to quit before the tenant or subtenant may be removed from the property, as specified. This bill would instead require a tenant or subtenant in possession of a rental housing unit under a month-to-month lease or periodic tenancy at the time that property is sold in foreclosure to be provided 90 days’ written notice to quit before the tenant or subtenant may be removed from the property. The bill would provide tenants or subtenants holding possession of a rental housing unit under a fixed-term residential lease entered into before transfer of title at the foreclosure sale the right to possession until the end of the lease term, except in specified circumstances. The bill would also extend the operation of these provisions until December 31, 2019.(4)The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason. Hide
An Act to Amend Section 11108 of the Commercial Code, Relating to Funds Transfers. SB 708 (2011-2012) CorbettSupportYes
Existing provisions of the Commercial Code governing certain funds transfers, cited as the Uniform Commercial Code—Funds Transfers, provide, among other provisions, that a funds transfer is… More
Existing provisions of the Commercial Code governing certain funds transfers, cited as the Uniform Commercial Code—Funds Transfers, provide, among other provisions, that a funds transfer is completed by acceptance by the beneficiary’s bank of a payment order for the benefit of the beneficiary of the originator’s payment order. Existing law excludes from the provisions of the Uniform Commercial Code—Funds Transfers those funds transfers governed by the federal Electronic Fund Transfer Act of 1978. This bill would make the provisions of the Uniform Commercial Code—Funds Transfers applicable to a remittance transfer, as defined, but would continue to exempt a remittance transfer that is an electronic fund transfer, as defined under the federal act. Hide
SB 729 (2011-2012) LenoOpposeNo
SB 761 (2011-2012) LowenthalOpposeNo
An Act to Amend Section 2923.5 Of, and to Add Article 1.7 (Commencing with Section 2946) to Chapter 2 of Title 14 of Part 4 of Division 3 Of, the Civil Code, Relating to Mortgages. AB 1639 (2009-2010) NavaOpposeNo
Existing law requires that, upon a breach of the obligation of a mortgage or transfer of an interest in property, the trustee, mortgagee, or beneficiary record a notice of default in the office of… More
Existing law requires that, upon a breach of the obligation of a mortgage or transfer of an interest in property, the trustee, mortgagee, or beneficiary record a notice of default in the office of the county recorder where the mortgaged or trust property is situated and mail the notice of default to the mortgagor or trustor, among other acts required prior to exercising a power of sale in a nonjudicial foreclosure proceeding. This bill would establish, contingent upon receipt of federal funding for all costs, and only until January 1, 2014, the Facilitated Mortgage Workout (FMW) Program. The program would be a process whereby borrowers and lenders would engage in conciliation sessions for purposes of developing a loan modification plan. These provisions would apply, except as specified, if the loan originated prior to January 1, 2009, the loan is the 1st mortgage or deed of trust secured by the property, the property is occupied by the borrower as the borrower’s principal residence, and the unpaid principal balance is not more than $729,750. The program would require that specified information regarding the FMW Program be included with the notice of default sent to a borrower, as defined, on a loan secured by residential real property of one- to 4-family dwelling units that is the primary residence of the borrower, as specified. The bill would require that this additional notice be recorded in the office of the county recorder. By expanding the duties of county recorders, the bill would impose a state-mandated local program. The bill would provide for an administrator of the program who would be appointed by the Governor and confirmed by the Senate. The program would require a borrower who elects to participate in the program to complete a specified form and return the form to the administrator of the program not later than 30 calendar days after receiving the notice of default. The program would require the borrower to submit other information to the administrator within 15 days of requesting to participate in the program, including tax returns, income verification, a specified deposit of funds, and a letter describing the borrower’s financial hardship, as specified. The program would require a borrower who elects to participate in the program to deposit with the administrator 50% of the current mortgage payment each month during participation in the FMW Program. The bill would also prohibit a mortgagee, trustee, beneficiary, or authorized agent from reporting negative credit information to a credit reporting agency about a borrower who has completed the FMW Program and accepted a mortgage loan modification. The bill would impose various administrative fees, and a specified minimum deposit, payable by the mortgagee, trustee, beneficiary, or authorized agent, or by the borrower, as specified, who participates in the FMW Program. The bill would also provide that the timelines set forth in the provision governing the exercise of the power of sale, as specified, would be suspended until the completion of the program, as specified. The bill would require the administrator of the program, among other duties, to implement rules and standards for selecting qualified neutral conciliation officers and to develop standards for forms and reports required to implement the program. The bill would also require the administrator, upon receipt of a borrower’s form whereby he or she elects to participate in the program, to nominate an individual to serve as a neutral conciliation officer from a list of qualified neutral conciliation officers in the county in which the property is located. The bill would establish the compensation for a neutral conciliation officer who provides his or her services to the program and require a neutral conciliation officer to use reasonable efforts to ensure that each FMW Program is completed within 60 calendar days of the neutral conciliation officer’s nomination. The bill would require the neutral conciliation officer to prepare a final report, as specified. The bill would also require, only until January 1, 2015, the administrator to report quarterly to the Legislature regarding the FMW Program, as specified. The bill would also require each mortgagee, trustee, beneficiary, or authorized agent participating in the program to post specified data about its loans on its Internet Web site.These provisions would become operative only upon the issuance of a notice from the administrator to the Governor and specified other legislative leaders, and the posting of the notice on an Internet Web site, declaring that the administrator has the capacity to make the program available to any borrower in every county who desires to participate.The bill would also make related and technical changes. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that, if the Commission on State Mandates determines that the bill contains costs mandated by the state, reimbursement for those costs shall be made pursuant to these statutory provisions. Hide
An Act to Add Section 798.47 to the Civil Code, Relating to Mobilehomes. AB 761 (2009-2010) CalderonOpposeNo
The Mobilehome Residency Law generally regulates the terms and conditions of mobilehome tenancies in mobilehome parks. Existing law permits rent control in mobilehome parks. Existing law exempts… More
The Mobilehome Residency Law generally regulates the terms and conditions of mobilehome tenancies in mobilehome parks. Existing law permits rent control in mobilehome parks. Existing law exempts certain rental agreements relating to mobilehomes from any local measure establishing the maximum amount that a landlord may charge a tenant for rent. This bill would provide that, upon the sale, assignment, transfer, or termination of an interest in a mobilehome or a mobilehome tenancy in a mobilehome park, the management of the park may offer a new rental agreement containing an initial rent that is in excess of the maximum rent established by a local measure by a minimum of 20% or $100, whichever is greater, as specified. The bill would permit not more than one increase within a 36-month period, as specified. The bill would specify that it does not apply to rental rate adjustments that are not subject to a local rent control ordinance and does not apply under other specified circumstances. Hide
An Act to Amend Section 2923.5 Of, and to Add and Repeal Sections 2923.4, 2923.7, 2923.73, 2923.75, and 2923.77 Of, the Civil Code, Relating to Mortgages. SB 1275 (2009-2010) LenoOpposeNo
Existing law, until January 1, 2013, and as applied to mortgages and deeds of trust recorded between January 1, 2003, and December 31, 2007, that are secured by owner-occupied residential real… More
Existing law, until January 1, 2013, and as applied to mortgages and deeds of trust recorded between January 1, 2003, and December 31, 2007, that are secured by owner-occupied residential real property containing no more than 4 dwelling units, requires a mortgagee, trustee, beneficiary, or authorized agent to contact the borrower, as defined, prior to filing a notice of default, in order to assess the borrower’s financial situation and explore options for the borrower to avoid foreclosure. Existing law requires the notice of default to include a specified declaration from the mortgagee, beneficiary, or authorized agent regarding its contact with the borrower. This bill would, until January 1, 2013, extend those requirements for those types of dwellings to apply to mortgages or deeds of trust recorded prior to January 1, 2009, if the loans are required to be reviewed under federal Home Affordable Modification Program (HAMP) guidelines, or between January 1, 2003, and January 1, 2009, if the loans are not required to be reviewed under HAMP guidelines. The bill would require a mortgagee, beneficiary, or authorized agent, within a specified time period prior to the filing of a notice of default, to provide the borrower with written information regarding loan modifications and a specified notice regarding the borrower’s rights during the foreclosure process, subject to specified exceptions. The bill would require an unspecified state entity to make that notice available in English and specified languages. The bill would further revise the borrower contact requirements described above by requiring a mortgagee, beneficiary, or authorized agent to make reasonable borrower solicitation efforts, as specified, to explore options for the borrower to avoid foreclosure. The bill would prohibit a mortgagee, trustee, beneficiary, or authorized agent from filing a notice of default until the borrower has been evaluated and determined to be ineligible for a loan modification or the borrower has failed to submit an application prior to the passing of the deadline. The bill would specify minimum time periods in which the borrower may submit an application or supplemental information for a loan modification, and would require the mortgagee, beneficiary, or authorized agent, if it denies the application, to send a denial explanation letter within a specified time period. These requirements would not apply to a mortgagee, beneficiary, or authorized agent that has no loan modification option available to the borrower or to a grandfathered party, as defined. This bill would further require, until January 1, 2013, with respect to those properties described above, that a mortgagee, beneficiary, or authorized agent, concurrently with the filing of a notice of default, record a declaration of compliance that attests to specified facts relating to its borrower solicitation and foreclosure avoidance efforts, except as provided. The bill would authorize the borrower to bring an action within one year of the trustee sale to void the foreclosure or request an injunction if, among other things, the mortgagee, beneficiary, or authorized agent records a notice of default without completing reasonable borrower solicitation efforts, or to recover specified damages if the mortgagee, trustee, beneficiary, or authorized agent fails to record a declaration of compliance or materially comply with specified provisions, if specified conditions exist. The bill would provide that a mortgagee, trustee, beneficiary, or authorized agent shall have no civil liability if it satisfies specified requirements prior to the initiation of legal action by the borrower. Hide