THE SENATE
THE TWENTY-SIXTH LEGISLATURE
REGULAR SESSION OF 2012

COMMITTEE ON JUDICIARY AND LABOR
Senator Clayton Hee, Chair
Senator Maile Shimabukuro, Vice-Chair

MEASURES DEFERRED TO WEDNESDAY, APRIL 04, 2012

DATE:

Wednesday, April 04, 2012

TIME:

10:00 AM

PLACE:

Conference Room 016
State Capitol
415 South Beretania Street

DECISION MAKING ON THE FOLLOWING MEASURE(S):

HB1875 SD1
(SSCR2945)

Status and Testimony

RELATING TO FORECLOSURES.
Implements the 2011 recommendations of the mortgage foreclosure task force, and other best practices, to address various issues relating to the mortgage foreclosures law and related issues affecting homeowner association liens and the collection of unpaid assessments.  Repeals the nonjudicial foreclosure process under part I of chapter 667, HRS.  Makes permanent the mortgage foreclosure dispute resolution program and the process for converting nonjudicial foreclosures of residential property into judicial foreclosures.  Repeals the provision excluding participants of the dispute resolution program from converting nonjudicial foreclosure proceedings to judicial actions.  Effective 6/30/20.  (SD1)

CPN, JDL

HB2019 SD1
(SSCR2851)

Status and Testimony

RELATING TO MORTGAGES.
Requires a court to find the fair market value of the real property or interest in real property prior to issuing a money judgment following a power of sale foreclosure.  Prohibits deficiency judgments on certain purchase money mortgages, when a mortgagee has elected to foreclose under power of sale, and for certain residential property sold in a short sale.  (SD1)

CPN, JDL

No testimony will be accepted.

FOR AMENDED NOTICES:  Measures that have been deleted are stricken through and measures that have been added are underscored.  If a measure is both underscored and stricken through, that measure has been deleted from the agenda.

FOR FURTHER INFORMATION, PLEASE CONTACT THE COMMITTEE CLERK AT 808-586-7330.