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HI SCR39
Concurrent Resolution
AI Summary
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Requests the Hawaii Attorney General to continue collaborating with state and federal agencies to investigate wrongful and unlawful conduct by mortgage lenders and servicers.
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Addresses the mortgage crisis in Hawaii that has persisted since 2004, stemming from improper practices in loan origination, servicing, and foreclosure services.
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References a multistate settlement between the U.S. Department of Justice, Department of Housing and Urban Development, 49 state attorneys general, and the nation's five largest lenders and servicers to address wrongful foreclosure conduct.
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Notes that fraudulent practices including "robo-signing" (signing documents without verifying contents) and improper loan transfers have clouded property titles and damaged borrowers in Hawaii.
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Directs certified copies to be transmitted to the Governor, Attorney General, and Director of Commerce and Consumer Affairs.
Legislative Description
Attorney General; Mortgage Loan Servicing Settlement
Last Action
(S) The committee on JDL deferred the measure.
4/12/2012