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Monday, 23 April 2012 07:30

Speaker Pérez and Pro Tem Steinberg Announce Conference Committee on Foreclosure Issues

SACRAMENTO – Senate President pro Tem Darrell Steinberg (D-Sacramento) and Assembly Speaker John A. Pérez (D-Los Angeles) today announced the formation of a Conference Committee that will address foreclosure issues and homeowner protections in the wake of the foreclosure settlement recently reached by Attorney General Kamala D. Harris.

“Since the foreclosure crisis hit, the California Legislature has taken several steps to ease the impact on families, including borrower protection and foreclosure delay legislation, and providing foreclosure assistance to constituents,” Pérez said. “Following the powerful foreclosure settlement negotiated by Attorney General Kamala D. Harris, we now have a narrow window of opportunity to make several major advances, and a two-house conference committee will provide the most comprehensive and timely mechanism to seize the opportunity before us to aid Californians who despite the settlement and previous actions are still underwater or facing foreclosure.”

Speaker Pérez announced that the Assembly Conferees will be Assemblymember Mike Eng (D-Monterey Park), Chair of the Assembly Banking and Finance Committee, Assemblymember Mike Feuer (D-Los Angeles), Majority Policy Leader and Chair of the Assembly Judiciary Committee, and Assemblymember Donald Wagner (R-Irvine), Vice-Chair of the Assembly Judiciary Committee.

Senate President pro Tem Steinberg announced he will ask the Rules Committee to appoint the following Senators to serve on the AB 278 conference committee: Senator Noreen Evans (D- Santa Rosa), Chair of the Senate Judiciary Committee, Senator Juan Vargas (D- San Diego), Chair of the Senate Banking and Financial Institutions Committee, and Senator Sam Blakeslee (R-San Luis Obispo), Vice Chair of the Senate Banking and Financial Institutions Committee.

“As we have worked through these issues over the last several weeks in meetings with stakeholders and legislators, it has become clear that we are close to having a package of bills that will provide meaningful protections to homeowners struggling through the foreclosure crisis,” Steinberg said.  “The Attorney General, the sponsor of these measures, as well as the authors and the legislative leaders all agree that key pieces of this package should be resolved as expeditiously as possible in a Conference Committee.  The bills relating to due process protections for borrowers and prohibitions on dual tracking homeowners in foreclosure and loan modifications processes will be heard in a Conference that will complete its work within the next few weeks.

Steinberg also said Senate members will be asked to vote on procedural actions on the floor next Monday on a Senate conference committee vehicle.

Website of Assembly Speaker John A. Pérez: www.asmdc.org/speaker

Website of President Pro Tempore Darrell Steinberg: http://dist06.casen.govoffice.com/

CONTACT: John Vigna (916) 319-2408