HI SB2394

Empowers the Director of Commerce and Consumer Affairs to enforce federal laws against fraud, deception, and abusive lending practices targeting military service members and their dependents.

Establishes a Distressed Residential Properties Program under the Hawaii Housing and Finance Development Corporation to assist homeowners facing foreclosure by purchasing existing mortgage loans.

Authorizes HHFDC to issue up to $10,000,000 in revenue bonds to fund the program and requires reports to the Legislature on loans purchased and their disposition.

Sets eligibility requirements for homeowner participation and establishes terms for qualified mortgages, including a 1% mortgage servicing fee on loaned amounts.

Appropriates unspecified amounts of general funds and general obligation bonds to implement the measure, with an effective date of July 1, 2030.