This is Bill 1362 The Foreclosure Fairness Act It is attempting to: Create a foreclosure mediation...

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This is Bill 1362The Foreclosure Fairness Act

It is attempting to:•Create a foreclosure mediation process in our state,•Require banks and lenders to conduct a good faith review of the borrower's financial situation and offer a loan modification or other option if the borrower is eligible, •Create additional funding for housing counselors,•Make violations of these new requirements punishable under the Consumer Protection Act

This tells us:•The history of the bill• Who is sponsoring it• Companion Bill(s)-Similar or identical legislation which is introduced in the

Senate and House. House and Senate lawmakers who share similar views on legislation may introduce a companion bill in their respective chambers to promote simultaneous consideration of the measure

• Where it’s been so far and where it is going•The Original Bill and Fiscal Notes

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