Calif. Foreclosure Bills To Implement $18B Bank Deal

Law360, New York (May 10, 2012, 6:45 PM EDT) -- Two California bills addressing the state's mortgage crisis will tailor the terms of its $18 billion agreement with the nation's five largest mortgage servicers to fit the state's nonjudicial foreclosure process, California Attorney General Kamala Harris said Thursday.

In a hearing before a California assembly conference committee, Harris said that the Foreclosure Reduction Act and the Due Process Reform Act, part of a package of six bills proposed under the California Homeowner Bill of Rights in February, would help implement the agreement California reached with the...
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