In early January, Governor Gavin Newsom presented the Legislature with his proposed budget for fiscal year 2020-2021, which commences on July 1. Building upon nearly a decade of explosive growth in the economy and stock market, Governor Newsom proposed a $222 billion general fund spending plan, with very significant new...
AB 2501 would enact a moratorium on residential foreclosures and evictions. It provides indiscriminately a one year complete moratorium on multi-family and residential mortgages, effective January 1. After that, a borrower, self-attesting that they have a COVID impact, can get two 180-day forbearances. It has been fast tracked by the...
In California, SB 908 would create a new licensing program for debt collectors. While that bill appears to be moving through the legislative process, with a hearing before the Senate Appropriations Committee on June 9th, we are pleased to report that we have successfully secured an exemption for trustees in...
UTA has sent a letter to the Chairs of the appropriate committees in Congress expressing our opposition to legislation that would institute a moratorium preventing HOAs from collecting dues during this pandemic. A provision of HR 6379 and its companion measures in the Senate, S. 3565, would suspend debt collection...
By Holly Chisa, HPC Advocacy, UTA Washington State Lobbyist Like other states, Washington has been hit hard by COVID-19, closed businesses, and layoffs. The Employment Security Department, or ESD, which provides unemployment insurance benefits, estimates our unemployment rate is now at 15%. Some counties are finally allowed to move to...
During this time of uncertainty UTA will post links on its website to enable you to stay current on the latest information on court closings and shelter-in-place orders from local governments. Because the situation is fluid and unprecedented, if you are unsure about whether a particular court house is open or...
Given the current state of affairs and the orders coming from the federal to local governments, we are holding a virtual townhall meeting to discuss how Covid-19 and the governmental responses are affecting our industry including the closure of public locations, limits on the number of people congregating (what if...
UTA joined and supported the California Mortgage Association and the California Mortgage Bankers Association in an amicus brief prepared by Wright Finlay & Zak on the Taniguchi v. Restoration Homes LLC, case. The purpose of the amicus was to get the Court of Appeal to understand that a clear line...
The Court held in Williams v 21st Mortgage Corporation that a defaulting borrower who breaches the terms of her Chapter 13 plan by failing to make her post confirmation payments to the lender (who then obtains relief from stay) is not required to tender the allegedly current pre-petition payments as...
By Michael Belote, UTA California Lobbyist, California Advocates The California Legislature returned to Sacramento on January 6 to begin the second year of the current 2019-2020 two-year session. Under the state constitution, the Legislature must adjourn this year by midnight, August 31. 2020 promises to be a wild year in...