CT HB06351

Extends foreclosure mediation program requirements through June 30, 2014 (from 2012) for residential properties and adds religious organizations owning real property as eligible participants in the mediation process.

Adds highly compensated mortgage loan originators (as defined in federal regulations) to the list of exempt employees under Connecticut wage and hour laws, with annual compensation adjustments starting October 1, 2012.

Establishes protections for tenants in foreclosed properties by requiring 90-day notice to vacate and preserving existing lease rights through December 31, 2017, with special protections for federally-subsidized tenants.

Regulates general-use prepaid cards to prohibit expiration dates on underlying funds and requires issuers to provide toll-free replacement services, toll-free numbers, and website information without imposing fees for replacements or balance transfers.

Revises residential property registration requirements for foreclosing parties and post-foreclosure owners, with registration due at time of lis pendens filing and updated registration due within 15 days of title vesting, including civil penalties up to $5,000 for non-compliance.