Oregon's 35-day Legislative Session Reaches Midpoint

Drew Hagedorn

Oregon's 35-day even year legislative session is nearly half complete and of the multiple mortgage foreclosure bills introduced into the abbreviated session only two bills remain:  Senate Bill 1552 (mandatory mediation) and SB 1564 (notice and reporting mandates).

Despite strong industry opposition, the Senate Committee on General Government & Consumer Protection approved both bills on a partisan vote this week.  “The bills are likely to be approved by the Democratically controlled Senate and die in the House where the chamber is divided evenly among 30 Republicans and 30 Democrats,” said Drew Hagedorn, Tonkin Torp, UTA’s Oregon Lobbyist.

Oregon's financial lobby, including UTA,  lobbied strongly against Senate Bill 1552 and 1564's complex provisions requiring mandatory mediation, costly notice requirements and subjecting trustees and others to Unlawful Trade Practice Act penalties for minor violations of the act.

The UTA is working closely together with banks, credit unions, MERS lobbyists and House Republican leadership to ensure the bill does not receive a hearing once it reaches the Oregon House.  If the bills are not scheduled for a House hearing by Tuesday, February 21 they will die in committee.  Even if they receive a hearing, the bills must move to the House floor by Thursday, February 23 or they will die.