Mike Feuer
- Democratic
Author
(1) Existing law requires that, upon a breach of the obligation of a mortgage or transfer of an interest in property, the mortgagee, trustee, 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. Existing law specifies other requirements and procedures for completion of a foreclosure sale, including recording a notice of sale prior to exercising a power of sale. Existing law requires, under specified circumstances, that a summary of mortgage terms be provided to the borrower in one of 5 specified languages. This bill, with respect to residential real property containing no more than 4 dwelling units, would require a mortgagee, trustee, beneficiary, or authorized agent to provide to the mortgagor or trustor attached to a copy of the recorded notice of default and a copy of the notice of sale a summary of the information required to be contained in those notices in English and 5 specified languages. The bill would also require the notice of default and notice of sale to include a statement, in English and 5 specified languages, that a summary of the key provisions of the respective notice in English and 5 specified languages is attached. The bill would provide that the attached summaries are not required to be recorded or published. Those provisions would become operative on April 1, 2013, or 90 days following the issuance of summary translations by the Department of Corporations, whichever occurs later. The bill would also require the Department of Corporations to provide a standard translation of the statement and summaries described above for a notice of default and a notice of sale, respectively, in those languages, and to make those documents available without charge on its Internet Web site. The bill would specify that any mortgagee, trustee, beneficiary, or authorized agent who provides the department's translations, in the manner prescribed, shall be in compliance with that provision. (2) This bill would incorporate additional changes to Section 2924 of the Civil Code proposed by AB 278, to be operative only if AB 278 and this bill are both enacted, both bills amend Section 2924 of the Civil Code and are effective on or before January 1, 2013, and this bill is enacted last. (3) The bill would repeal duplicate provisions of law.
Approved by the Governor.
Chaptered by Secretary of State - Chapter 556, Statutes of 2012.
Enrolled and presented to the Governor at 2:30 p.m.
Read third time. Passed. Ordered to the Assembly. (Ayes 29. Noes 9. Page 5083.).
Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 58. Noes 19. Page 6780.).
Assembly Rule 63 suspended. (Page 6775.)
In Assembly. Concurrence in Senate amendments pending.
Pursuant to Joint Rule 33.1,
Read third time and amended. Ordered to third reading. (Page 5038.)
Joint Rule 61(b)(16) suspended. (Page 5015.)
Read second time. Ordered to third reading.
Read third time and amended. Ordered to second reading.
Read second time. Ordered to third reading.
From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 4. Noes 0.) (July 3).
Read second time and amended. Re-referred to Com. on APPR.
From committee: Be placed on second reading file pursuant to Senate Rule 28.8.
From committee: Do pass and re-refer to Com. on JUD. (Ayes 5. Noes 1.) (June 27). Re-referred to Com. on JUD.
In committee: Set, first hearing. Hearing canceled at the request of author.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 49. Noes 25. Page 4922.)
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 12. Noes 5.) (May 16).
Read second time and amended.
From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 9. Noes 1.) (April 17).
From committee chair, with author's amendments: Amend, and re-refer to Com. on JUD. Read second time and amended.
From printer. May be heard in committee March 8.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB1599 | HTML |
| 02/06/12 - Introduced | |
| 04/11/12 - Amended Assembly | |
| 04/30/12 - Amended Assembly | |
| 08/06/12 - Amended Senate | |
| 08/24/12 - Amended Senate | |
| 08/30/12 - Amended Senate | |
| 09/11/12 - Enrolled | |
| 09/25/12 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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