Poll: Should Oregon lawmakers give foreclosures, MERS a do-over?

A federal judge this week issued a stern rebuke to big banks and the Mortgage Electronic Registration System in its handling of foreclosures and what he called a violation of a long-standing Oregon recording law.

Now, the financial industry lobby wants the Oregon Legislature to amend an affordable housing bill to retroactively waive those reporting requirements.

U.S. District Court Judge Owen Panner wrote in his ruling: “Given the numerous problems I see in nearly every non-judicial foreclosure case I preside over, a procedure relying on a bank or trustee to self-assess its own authority to foreclose is deeply troubling to me.” Among those problems: Gaps in ownership records and possible “robo-signing” of mortgage documents.

But loan servicers, credit unions and title companies say the legal questions have cast a cloud over title on thousands of homes and mortgages in the state, slowing the process and holding back the housing market. Under the proposed amendment, past and future foreclosure sales with improperly recorded deeds could no longer be voided by a judge.

Now get over to the original post and get involved in the poll here…

Here is links to the reps as well…

Email addresses for each are on there individual pages…

Be sure to contact them on the issues…

House Judiciary Committee
Click here to return to individual Committee Pages
Committee Services Office:
900 Court St. NE, Room 453 Salem, Oregon 97301
Phone: 503-986-1813 Fax: 503-986-1814

Committee Membership:
Jeff Barker, Co-Chair Wayne Krieger, Co-Chair Chris Garrett, Co-Vice Chair
Wally Hicks, Co-Vice Chair Mary Nolan Andy Olson
Mike Schaufler Carolyn Tomei Matt Wand
Gene Whisnant




Proposed Amendments to a-Engrossed Senate Bill 519