HI SB1370

Extends mandatory mortgage foreclosure dispute resolution to require mortgagees to participate in mediation at the mortgagor's election before filing judicial foreclosure actions on properties that were the mortgagor's primary residence for a specified period.

Requires mortgagees to provide written notice to homeowners no later than 45 days after a mortgage becomes delinquent and engage in early intervention measures to mitigate losses.

Applies dispute resolution requirements to judicial foreclosure actions filed before the effective date of the measure and still pending an initial court hearing.

Exempts mortgagees already engaged in loss mitigation procedures with the mortgagor in compliance with statutory requirements from mediation requirements.

Sets effective date of July 1, 2112, to encourage further legislative discussion on the measure.