A Response to the Star Advertiser’s Foreclosure Report

Sen. Roz Baker Chair, Commerce and Consumer Protection The three-part “Foreclosure Special Report” published by the Honolulu Star-Advertiser on August 5-7, 2012 pointedly focused on the critics of the State’s recently amended foreclosure laws (Act 48 and Act 182).  It did not, at any time, offer perspectives from economically distressed homeowners who actually stood to benefit from the consumer protections under the new law.  Those homeowners were the focus of the Legislature’s actions. In light…

Read More

State-Federal Mortgage Servicing Settlement to be Discussed

  HONOLULU – In reaction to a landmark state-federal deal with the nation’s five largest mortgage servicers over foreclosure abuses and fraud during the housing crisis, the Senate Committee on Commerce and Consumer Protection along with the House Committee on Consumer Protection and Commerce will be holding an informational briefing to discuss the settlement terms and its conditions.  The briefing will be held on Tuesday, February 14, 2012 at 10am in conference room 229, at…

Read More

Discussion of the Mortgage Foreclosure Task Force 2012 Report

On January 19, 2012, the Mortgage Foreclosure Task Force presented its report to the Senate Committee on Commerce & Consumer Protection and the House Committee on Consumer Protection & Commerce during a joint informational briefing. The task force was created by the Legislature in 2010 by Act 162 to conduct an extensive analysis of factors affecting mortgage foreclosures in the state and to provide recommendations to the Legislature. The result of their work assisted in…

Read More

State Launches Mortgage Foreclosure Dispute Resolution Program

On October 3, 2011, the Hawai’i State Department of Commerce and Consumer Affairs (DCCA) held a press conference to unveil the Mortgage Foreclosure Dispute Resolution (MFDR) Program. The MFDR program is established under Act 48 (Senate Bill 651) and is designed to offer owner-occupants of residential property in non-judicial foreclosure the opportunity to meet directly with their lenders to modify their loans or work out an alternative to the foreclosure process. Sen. Roz Baker, Chair…

Read More

Mortgage Briefing to be Held at State Capitol

Honolulu — The Hawaii State Senate and House of Representative Committees on Consumer Protection and Commerce will hold a joint informational briefing on Wednesday, June 29, 2011, at the State Capitol regarding the new home mortgage foreclosure law (Act 48) passed in May. The briefing will be held in Conference Room 325, located in the State Capitol, beginning at 1:00 p.m. The public is invited to attend. “Assuring fairness and transparency in the mortgage foreclosure…

Read More