1. Heather Morton Fiscal Affairs Program
Foreclosures Legislation Property Records Industry Association August 27, 2014
Heather Morton Fiscal Affairs Program

2. Foreclosure Statistics
The Mortgage Bankers Association’s National Delinquency Survey
Office of the Comptroller Mortgage Metrics Report
CoreLogic Negative Equity Report

3. NCSL
“Our nation’s state legislatures serve as the forum where the ideas of America are crafted, debated and enacted.”
—William Pound, Executive Director, NCSL

4. State Legislative Activities
No "one-size-fits-all" solution
Legislators, regulators, lenders and community groups working together
Legislation has changed as the foreclosure crisis has evolved

5. First Wave of Legislation
Payment Assistance Programs
Foreclosure Hotlines
Foreclosure Consultants

6. Foreclosure ConsultantsAK WA ME MT ND MN OR WI NY ID SD MI WY PA IA VT NE OH HI NV IL IN NH UT WV CO VA MA CA KS MO KY RI NC TN CT OK AR SC NJ AZ NM AL GA DE MS MD LA TX DC FL
States with enacted legislation since 2007 PR

7. Second Wave of Legislation
Foreclosure mediation or alternative loan modification programs
Protections for tenants renting homes facing foreclosure

8. Mediation Programs States with enacted legislation since 2007 AK WA MEMT ND MN OR WI NY ID SD MI WY PA IA VT NE OH HI NV IL IN NH UT WV CO VA MA CA KS MO KY RI NC TN CT OK AR SC NJ AZ NM AL GA DE MS MD LA TX DC FL
States with enacted legislation since 2007 PR

9. Third Wave of Legislation
Process ensuring the validity of foreclosure proceedings
Property maintenance

10. Property Maintenance States with enacted legislation since 2007 AK WAME MT ND MN OR WI NY ID SD MI WY PA IA VT NE OH HI NV IL IN NH UT WV CO VA MA CA KS MO KY RI NC TN CT OK AR SC NJ AZ NM AL GA DE MS MD LA TX DC FL
States with enacted legislation since 2007 PR

11. New Waves
Allowing former homeowner to rent or repurchase the foreclosed home
Expediting foreclosure process for abandoned homes
Regulation of deficiency judgments
Incorporating the National Mortgage Settlement terms into state laws

12. Questions?
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