Bob Blumenfield
- Democratic
Author
Existing law sets forth the criteria for procedures for the foreclosure of property, including the filing of various notices with the county recorder, and generally sets forth the duties of the county recorder in this regard. This bill would, until January 1, 2015, for loans already originated as of the date that this bill becomes effective, with some exceptions, prohibit a notice of trustee's sale from being accepted for filing with the county recorder until the mortgage servicer pays a foreclosure mitigation charge of $20,000. It would require the county recorder to keep the moneys in trust until a notice of rescission is filed, at which time the moneys would be returned to the mortgage servicer, or until a trustee deed of sale is filed, at which time the moneys would be transmitted to the Treasurer for deposit in the Foreclosure Mitigation Fund, which would be created by the bill; the interest earned on the moneys would be retained by the county recorder in either case. The fund would be continuously appropriated for distribution by the Treasurer to local agencies for specified purposes. By imposing a new duty on county recorders in collecting this fee, 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.
From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.
Died pursuant to Art. IV, Sec. 10(c) of the Constitution.
Assembly Rule 56 suspended. (Ayes 45. Noes 24. Page 1118.)
From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.
(Pending re-referral to Com. on L. GOV.)
In committee: Set first hearing. Failed passage. Reconsideration granted.
From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.
Re-referred to Coms. on B. & F. and L. GOV. pursuant to Assembly Rule 96.
From committee chair, with author's amendments: Amend, and re-refer to Com. on L. GOV. Read second time and amended.
From printer. May be heard in committee March 22.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB935 | HTML |
| 02/18/11 - Introduced | |
| 04/04/11 - Amended Assembly | |
| 04/14/11 - Amended Assembly | |
| 04/28/11 - Amended Assembly |
| Document | Format |
|---|---|
| No related documents. |
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