Legislature Considers Foreclosure Bills

April 25, 2019 |

On April 24, the Legislature’s Judiciary Committee held public hearings on four foreclosure bills. For each bill, the League offered testimony “Neither For Nor Against” and cautioned the committee against making the foreclosure process longer. The League also asked the committee to consider the impact these proposed laws would have on smaller financial institutions.

The bills discussed were:

  • LD 907, “An Act To Ensure That Defendants in Foreclosure Proceedings Receive Proper Notification,” sponsored by Representative Matthea Daughtry of Brunswick.
  • LD 1175, “An Act To Ensure the Timely and Proper Completion of Residential Foreclosures,” sponsored by Senator Robert Foley of York.
  • LD 1405, “An Act To Amend the Laws Governing Foreclosure To Ensure Timely Completion,” sponsored by Representative Anne Carney of Cape Elizabeth.
  •  LD 1327, “An Act To Require Residential Mortgage Loan Servicers To Act in Good Faith in Dealings with Homeowners,” sponsored by Senator Ned Claxton of Androscoggin.

If you would like further information about these bills, please contact League Vice-President of Governmental Affairs Robert Caverly at rcaverly@mainecul.org or League Regulatory and Legislative Advocacy Coordinator, Ellen Parent at eparent@mainecul.org.