b********2
发帖数: 5191 | 1 good news for 房托
(AP) SACRAMENTO, Calif. - California will become the first state to write
into law much of the national mortgage settlement negotiated this year with
the nation's top five banks, and expand it to all mortgages, under wide-
ranging legislation approved by state lawmakers on Monday.
Majority Democrats sent the homeowner protection package to Gov. Jerry Brown
despite opposition from business and lending organizations and most
Republican legislators.
The Assembly approved the legislation on a 53-25 vote, and the Senate
followed quickly on a 25-13 vote.
The legislation would require large lenders to provide a single point of
contact for homeowners who want to discuss loan modifications. It would
prohibit lenders from foreclosing while the lenders consider homeowners'
request for alternatives to foreclosure. And it would let California
homeowners sue lenders to stop foreclosures or seek monetary damages if the
lender violates state law.
The protections would benefit all California homeowners, not just those
whose mortgages are with the five banks that signed the national settlement
in February. And many of the restrictions would become permanent, while
those in the nationwide agreement will end after five years.
It applies to all owner-occupied residences, but not commercial or rental
properties.
Jose Vega drove 70 miles to Sacramento with his two young children to lobby
lawmakers to pass the legislation after he spent three years battling to
keep his home in the San Francisco-area city of Pittsburg.
In November 2009, he said he found a trustee sale notice posted on his door
16 days after he was placed in a loan modification program. He was put into
another modification program in the spring of 2010, only to have the bank
again begin foreclosure proceedings.
Vega, 52, eventually kept his home after filing for bankruptcy and getting
help from the office of Democratic U.S. Sen. Dianne Feinstein. Now he and
his family owe $466,000 - including the bank's legal fees - on a home he
said is worth about $200,000.
"I'm not asking for a handout. All I'm saying is, you created this mess, let
's work something out," said Vega a member of the Alliance of Californians
for Community Empowerment. "Hopefully, California will lead the way so other
states will follow."
Attorney General Kamala Harris said the compromise legislation negotiated
with lawmakers "is going to bring transparency and fairness to California
homeowners in a way they've never had before."
She helped negotiate the February settlement that requires Bank of America
Corp., JPMorgan Chase & Co., Wells Fargo & Co., Citigroup Inc. and Ally
Financial Inc. to pay $18 billion in penalties to California homeowners.
Key portions of her original proposal to write the settlement into state law
were stalled by opposition from some of her fellow Democrats in the
Legislature, until the right to sue banks and other measures were
significantly narrowed.
"This legislation can be the catalyst not only for a recovery of California'
s real estate market, but a catalyst across the nation as borrowers
everywhere will demand the same protections given to California borrowers,
the same protections given to our families," said Assemblyman Mike Feuer, D-
Los Angeles, a member of the conference committee that negotiated the bill.
"And those protections boil down to this: They ought to be treated fairly,
they ought to be treated consistently."
Lenders' organizations joined by the California Chamber of Commerce said in
a letter to lawmakers on Friday that the final legislation is an improvement
, though they still fear it will "encourage frivolous litigation" by
borrowers who cannot realistically afford to stay in their homes.
The lending industry cited a study it commissioned by Beacon Economics, a
Los Angeles-based research firm. It echoes industry arguments that letting
homeowners sue their lenders, even in limited circumstances, will delay
foreclosures and increase lenders' costs, potentially harming the shaky
housing recovery and making it more difficult and costly to obtain mortgages.
The legislation can't address what lenders say is the underlying problem:
too many borrowers can't afford their payments.
"It's a mistake that will hurt this economy for years to come," said Sen.
Sam Blakeslee, R-San Luis Obispo, a member of the conference committee.
Supporters of the bill say it still takes important steps.
"The point is ... not to launch an avalanche of lawsuits. What it's really
about is having some meaningful accountability to ensure that servicers
follow the rules," said Paul Leonard, director of the California office of
the Center for Responsible Lending, a consumer group.
Previous efforts have repeatedly failed to clear the Legislature. Leonard
said the national mortgage settlement and Harris' involvement are likely to
make the difference this year.
Sen. Noreen Evans, D-Santa Rosa, who co-chaired the conference committee
that negotiated the bill, said Brown's administration worked with Democrats
on the legislation and has given every indication he would sign it into law.
However, Brown declined to comment as he left the office of Senate
President Pro Tem Darrell Steinberg, D-Sacramento, moments before the vote.
The law would not take effect until Jan. 1, though Evans and Harris said
they expect lenders would begin following the new rules immediately even if
the penalties don't yet apply. | n******h
发帖数: 2482 | 2 All good news are really for the banks, so that they can keep the value of
their MBS for as long as possible.
All ponzi scheme will end, one day.
with
Brown
【在 b********2 的大作中提到】
: good news for 房托
: (AP) SACRAMENTO, Calif. - California will become the first state to write
: into law much of the national mortgage settlement negotiated this year with
: the nation's top five banks, and expand it to all mortgages, under wide-
: ranging legislation approved by state lawmakers on Monday.
: Majority Democrats sent the homeowner protection package to Gov. Jerry Brown
: despite opposition from business and lending organizations and most
: Republican legislators.
: The Assembly approved the legislation on a 53-25 vote, and the Senate
: followed quickly on a 25-13 vote.
| q***l
发帖数: 177 | 3 我怎么卷得不是很好的消息！ 以后贷款更严了。可以这样理解吗？ |
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