Call To Action: Bill On Governor’s Desk
Would Expand Nevada Foreclosure Mediation Program

Members are asked to contact
Governor Sandoval immediately.

AB 300 recently passed both the Nevada Assembly and the Nevada Senate and is on the Governor’s desk for is signature any day. If the bill is not vetoed, it will greatly expand the breadth and scope of the Nevada Foreclosure Mediation Program.

While the bill does contain a provision added at UTA’s request (Section 9, allowing participants in the mediation program to exit quickly (90 days) if the homeowner needs to vacate the property quickly, the bill does not include any of our other required changes and consequently we need your help in conveying our opposition to the Governor.

Please contact the Nevada Governor immediately by both email and by hard copy letter immediately to request a veto.  It is imperative that those in Nevada contact the Governor. The bill passed the Senate by a vote of 11-10, indicating to the Governor that there is support to a potential veto.

Here is a copy of the bill. Below is a sample letter:

Governor Sandoval
State Capitol
101 N. Carson Street
Carson City, NV  89701

Dear Governor Sandoval:

I am writing to urge you to veto AB 300.

The measure makes changes to the Nevada Mediation Program which are unnecessary and will only further complicate the mediation program.

AB 300 as enrolled is a punitive measure toward the lenders doing business in Nevada, and will only exacerbate a struggling housing market recovery.  The measure places additional burdens on the lender, many of which are already covered in AB 284, a measure which you signed into law last month, without any consideration for irresponsible borrower participation in the program.

This bill includes additional triggers to determine ‘bad faith’ requirements on lenders, but no such provisions requiring ‘bad faith’ provisions on the part of the applicant/borrower.  Further, the bill would allow those who stop making mortgage payments to avoid paying property taxes and HOA dues.

While we support the efforts to bring lenders and borrowers together in a non-confrontational manner that provides a mediated solution to a depressed housing market, we believe that the approach taken by the proponents of the measure have overreached and will only extend a depressed marketplace.

We urge you to veto AB 300.

Sincerely,