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GA HR1643
Resolution
Status
Introduced
3/3/2014
Primary Sponsor
Paulette Rakestraw
Click for details
AI Summary
- Creates the House Study Committee on Foreclosure Reform, composed of four House members and four public members appointed by the Speaker of the House and the commissioner of banking and finance
- Directs the committee to study Georgia's nonjudicial foreclosure process, including issues of mortgage transfer tracking, dual tracking (simultaneous foreclosure and loan modification negotiations), and robo-signing of foreclosure documents
- Requires analysis of how Georgia spent its share of the $25 billion national mortgage servicer settlement, specifically the $4.25 billion allocated to the states
- Committee members receive no compensation or expense reimbursement; funding comes from House of Representatives appropriations
- Committee must publish a report with findings, recommendations, and proposed legislation by December 1, 2014, at which point it is abolished
Legislative Description
House Study Committee on Foreclosure Reform; create
Last Action
House Second Readers
3/5/2014
Full Bill Text
No bill text available