2008 House Bill 6614

Impose new regulations on subprime foreclosures

Introduced in the House

Nov. 6, 2008

Introduced by Rep. Steve Tobocman (D-12)

To require a certification to be filed attesting that the new notice and record-keeping requirements that House Bill 6615 would impose on lenders or loan servicers before foreclosure proceedings could begin have been complied with, and if they have not been, give courts the power to dismiss a foreclosure action and order the plaintiff to pay the non-performing lender’s costs.

Referred to the Committee on Banking and Financial Services

Nov. 13, 2008

Reported without amendment

With the recommendation that the substitute (H-1) be adopted and that the bill then pass.

Substitute offered

To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.

The substitute passed by voice vote

Passed in the House 69 to 32 (details)

Received in the Senate

Dec. 2, 2008

Referred to the Committee on Banking and Financial Institutions

Dec. 11, 2008

Reported without amendment

With the recommendation that the substitute (S-1) be adopted and that the bill then pass.