June 21, 2011
A number of bills opposed by the CLTA failed to meet critical deadlines to move through the legislative process this year:
SB 729 (Leno) prohibits a trustee from recording a notice of default unless they attempt to evaluate a borrower for all available loss mitigation options to avoid foreclosure.
SB 631 (Evans) authorizes the Insurance Commissioner to order refunds and restitution by insurers and licensees whenever the commissioner finds after a hearing that there has been a violation the insurance code.
SB 588 (Evans) provides that a person who violates the Coastal Act is subject to an administrative civil penalty that may be imposed by the California Coastal Commission by a majority vote in an amount no less than $5,000 and no more than $50,000 for each violation.
The bills will remain in the Senate until next year.