STAND. COM. REP. NO.  1571

Honolulu, Hawaii

                , 2013

RE:   S.B. No. 960

      S.D. 1

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Seventh State Legislature

Regular Session of 2013

State of Hawaii

Sir:

     Your Committee on Judiciary, to which was referred S.B. No. 960, S.D. 1, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO FORECLOSURES,"

begs leave to report as follows:

The purpose of this measure is to provide homeowners with timely notice of the postponement or cancellation of the public sale of their foreclosed properties by establishing a mandatory system for public notice of postponement or cancellation of such public sale under part IA, Chapter 667, Hawaii Revised Statutes, relating to judicial foreclosures.

The Office of Consumer Protection of Department of Commerce and Consumer Affairs and Hawaii Bankers Association testified in support of this measure.  The Hawaii Financial Services Association provided comments.

     As affirmed by the record of votes of the members of your Committee on Judiciary that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 960, S.D. 1, H.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Judiciary,

____________________________

KARL RHOADS, Chair