Date: 02/16/2010

Final
BILL SUMMARY for HB10-1240

HOUSE COMMITTEE ON LOCAL GOVERNMENT

Votes: View--> Action Taken:
Moved amendment L.002 (Attachment B). The motion
Moved to refer House Bill 10-1240, as amended, to 		Pass Without Objection
PASS



01:33 PM

The committee chair, Representative Peniston, called the meeting to order.


01:33 PM -- House Bill 10-1240

Representative Ferrandino, prime sponsor, presented House Bill 10-1240, concerning the foreclosure deferment process for residential properties. He explained that the bill clarifies House Bill 09-1276, which was passed by the general assembly last year to establish a 90-day foreclosure deferment period for eligible borrowers. Representative Ferrandino responded to questions concerning the fiscal impact of House Bill 10-1240.


01:40 PM

Mike Rosser, representing the Colorado Mortgage Lenders Association, the Colorado Foreclosure Prevention Task Force, and the Division of Housing testified in support of the bill and discussed the need to amend state law implemented by House Bill 09-1276. Mr. Rosser discussed the fiscal impact of House Bill 10-1240, and discussed the success of the foreclosure hotline implemented by the Division of Housing. Mr. Rosser addressed questions concerning the foreclosure process, discussed the notification process implemented by House Bill 09-1276, and distributed a handout to the committee concerning the U.S. mortgage market (Attachment A).

10HseLoc0216AttachA.pdf

01:47 PM

Tom Mowle, Public Trustee, El Paso County, representing the Colorado Public Trustees' Association, testified in support of the bill and explained the need to allow foreclosure rules to be promulgated by the Division of Housing, promote notices for deferment eligibility, and allow a deferment to be retracted if homeowners do not qualify.


01:51 PM

Larry Castle, Castle Meinhold and Stawiarski LLC, testified in support of the bill as amended by L.002 (Attachment B). Mr. Castle addressed questions concerning the procedure for deferments and evictions.


01:55 PM

Representative Ferrandino made closing comments on the bill and discussed prepared amendment L.002 (Attachment B).

10HseLoc0216AttachB.pdf
BILL:HB10-1240
TIME: 01:55:43 PM
MOVED:Massey
MOTION:Moved amendment L.002 (Attachment B). The motion passed without objection.
SECONDED:Schafer S.
VOTE
Acree
Apuan
Bradford
Liston
Massey
McKinley
Priola
Schafer S.
Vigil
Soper
Peniston
Not Final YES: 0 NO: 0 EXC: 3 ABS: 0 FINAL ACTION: Pass Without Objection


BILL:HB10-1240
TIME: 01:57:10 PM
MOVED:Apuan
MOTION:Moved to refer House Bill 10-1240, as amended, to the Committee on Appropriations. The motion passed on a 11-0 roll call vote.
SECONDED:Massey
VOTE
Acree
Yes
Apuan
Yes
Bradford
Yes
Liston
Yes
Massey
Yes
McKinley
Yes
Priola
Yes
Schafer S.
Yes
Vigil
Yes
Soper
Yes
Peniston
Yes
Final YES: 11 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS