Nevada Legislative Session Report

UTA’s Nevada Lobbyist, Rocky Finseth, provides a complete report on the just-completed tumultuous 2009 legislative session in Nevada. “The role of the trustee in a foreclosure sale was largely misunderstood and under assault,” Rocky reports. “The UTA ensured that revisions were achieved that assured its members that their role in the process was preserved and proposed monumental burdens on the trustee were avoided.

The lynchpin of Nevada’s legislative leadership to address the foreclosure crisis, this measure created a loan mediation program through the Nevada Supreme Court. In its original form, the measure placed all of the burdens of the negotiations on the trustees, not the lenders. The engrossed version of the measure sent to the Governor reflected a much better mediation process than originally contemplated, while also refining the role of the trustee in the process. The State Supreme Court will be drafting regulations to carry out the provisions of AB 149, and it is critically important that the UTA remains engaged as the Court promulgates these regulations.”

Read the full report