HEA 1084 Summary

• Expands the Attorney General's homeowner protection unit to enforce homeowners association violations of IC 32-25.5-3 and extends the mortgage foreclosure counseling fee from January 1, 2013 to January 1, 2015.

• Strengthens foreclosure consultant regulations by prohibiting misrepresentation of government affiliation, requiring written contracts with cancellation notices, and establishing enforcement through deceptive practices laws with penalties including Class A misdemeanor status.

• Requires homeowners associations to provide members with access to financial records and communications upon written request, with search fees capped at $35/hour (maximum $200) and first hour free.

• Authorizes summary suspension of mortgage broker licenses for material and intentional misrepresentations in at least three transactions, subject to notice and hearing requirements.

• Directs legislative council to study homeowners associations during 2013 interim, including mediation and arbitration of disputes, with final report due by November 1, 2013.