Marcus Conklin
for Nevada
Press Releases
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New law to help stabilize neighborhoods to take effect October 1
FOR IMMEDIATE RELEASE
September 29, 2009
Legislation also provides new protections for renters in foreclosed homes
Almost every neighborhood has them now—foreclosed homes with dead grass and overgrown weeds, some with stagnant pools attracting mosquitoes. They are a blight on our neighborhoods and at times even a health hazard.
Reducing the number of these abandoned and unkempt houses is the goal of a new law taking effect on October 1 that requires a person to maintain any vacant residential property he or she acquires through the foreclosure of a deed or trust. AB 140 requires the purchaser to comply with local government regulations, to limit excessive growth of foliage and to prevent trespassing, the growth of mosquitoes or any other condition that would constitute a public nuisance.
Assemblyman Marcus Conklin, who chaired the special subcommittee that proposed the legislation, said the bill is critical because Nevada’s foreclosure crisis is affecting everyone, not just those who are losing their homes.
“Plummeting home values have been one of the biggest contributors to our current economic crisis,” Conklin said. “Addressing our foreclosure crisis is a critical part of turning our economy around and getting people back to work.”
Conklin pointed out that the bill also requires more notification for renters in foreclosed homes so they have more time to find alternative housing.
“This new law is part of a comprehensive package of legislation we passed to help reduce the number of foreclosures and their impact on our neighborhoods,” Conklin said.
He went on to say that thousands of homeowners facing foreclosure want to try to save their homes, but cannot even get anyone on the telephone. Legislation (AB 149) sponsored by Assembly Speaker Barbara Buckley requiring lenders to participate in mediation if requested by the homeowner went into effect on July 1, and more than 2000 Nevadans have already requested mediation.
Legislation sponsored by Conklin also went into effect earlier this year to require additional licensing of loan modification consultants to prevent foreclosure scams (AB 152) and to require lenders to disclose in plain terms certain provisions of nontraditional loans (AB 151).
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Nevadans can't afford plan to downsize mortgage lending oversight, legislator says
FOR IMMEDIATE RELEASE
February 6, 2009
Assemblyman Conklin opposes Governor's proposal to reduce consumer protection at a time when homeowners are vulnerable to fraud
Assemblyman Marcus Conklin (D-Las Vegas) today said Governor Gibbons' proposal to eliminate the state agency that oversees mortgage lending makes no sense at a time when Nevada has the worst home foreclosure problem in the nation and mortgage scams are widespread throughout the Silver State.
Gibbons has proposed eliminating the State's Mortgage Lending Division and folding its functions into the division that oversees the banking industry. The proposal was the subject of a hearing today in the Assembly Ways and Means/ Senate Finance Joint Subcommittee on General Government and Accountability.
"We're in the midst of the worst home foreclosure crisis in the nation, and too many Nevadans are becoming victims of mortgage lending schemes that hook people by telling them they can stay in their homes, but really plunge them further into debt," Conklin said. "Legislative leaders said in today's hearing that we don't understand why Gibbons would propose cutting an office that protects consumers from lending fraud."
Conklin, who chaired a special legislative subcommittee on mortgage lending issues that met between legislative sessions, sponsored legislation in 2007 to crack down on mortgage lending scams. He is proposing legislation this session to make the law even stronger.
"The housing market right now is atrocious, with one out of every 11 homes in Nevada currently in foreclosure and home values plummeting," said Conklin. "While we all certainly want to streamline government, we would be taking a huge step back by reducing state oversight of the mortgage lending industry, and it could put more Nevadans in danger of falling prey to these scams."
The subcommittee heard testimony from representatives of the banking industry, credit unions and private lenders opposing the elimination of the state oversight division.###
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Subcommittee to Discuss Mortgage Lending Proposals at August 4 Meeting
PRESS ADVISORY
July 1,2008
Legislators will discuss possible legislation to address
With
The Legislative Commission's Subcommittee to Study Mortgage Lending and Housing Issues will meet at the
Marcus Conklin (D-Las Vegas), who chairs the subcommittee, said that subcommittee members will discuss recommendations on a wide range of topics, including consumer counseling and education, renters facing evictions because of foreclosure, the licensing and oversight of those engaged in mortgage lending and consumer fraud.
The full agenda of the subcommittee meeting can be found on the legislative website at www.leg.state.nv.us.
WHAT: Work session of the Legislative Commission's Subcommittee to Study Mortgage Lending and Housing Issues to make legislative recommendations to address the foreclosure crisis
WHEN: Monday, August 4, 2008 9 a.m.
WHERE: Grant Sawyer State Office Building in
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Pen and Pad Session Scheduled for Monday, March 26, on Democrats' Quality of Life Agenda
March 23, 2007
Legislation on affordable housing and protection from mercury contamination scheduled for hearings
CARSON CITY – On Monday, March 26, Democrats will hold a pen and pad session to discuss their quality of life agenda and several bills scheduled for hearing this week.
AB 439, a bill sponsored by Assemblyman Marcus Conklin (D-Las Vegas) to strengthen requirements that cities and counties must develop a master plan for affordable housing, will be heard in the Assembly Government Affairs Committee on Tuesday, March 27. Also on Tuesday, AB 269, a bill sponsored by Assembly Speaker Barbara Buckley (D-Las Vegas) to give tax credits to businesses that assist their employees in purchasing a home, will be heard in the Assembly Taxation Committee.
Legislation to protect Nevadans from potential emissions of mercury from mines will also be discussed at the pen and pad. AB 115, sponsored by Assemblywoman Sheila Leslie (D-Reno), will be heard in the Assembly Commerce and Labor Committee on Monday, March 26.
WHO: Speaker Barbara Buckley, Assistant Majority Leader Marcus Conklin, Majority Whip Sheila Leslie and Assemblywoman Marilyn Kirkpatrick
WHAT: Pen and pad session on Democrats' quality of life agenda, with discussion of bills on affordable housing and mercury emissions
WHEN: Monday, March 26, at 10:30 A.M.
WHERE: Speaker Buckley's office, Legislative Building, Carson City, NV
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Mortgage Lending Consumer Protection Measures To Be Heard in Committee
FOR IMMEDIATE RELEASE
April 4, 2007
AB 329, AB 440 and AB 375 were discussed at the Pen and Pad session held on April 2 in Speaker Barbara Buckley's office.
A description of the bills follows:
AB 329—Assemblyman David Parks
Requires Commissioner of Financial Institutions to adopt regulations
for non-traditional mortgage loans
AB 440—Assemblyman Marcus Conklin
Creates the crime of mortgage lending fraud Applies unfair lending practice provisions to low-document, non-document, or stated-document loans
Establishes statutory guidelines for foreclosure consultants and
purchasers, including civil and criminal liability for violation of
these provisions
AB 375—Assemblyman John Oceguera
Requires the Commissioner of Mortgage Lending to adopt regulations establishing limitations on loans made to directors, officers, or employees
Prohibits the Commissioner from issuing or renewing a mortgage
broker's license if the applicant is exempt from licensing as a
broker-dealer
Requires the Commissioner to establish minimum financial conditions
investors must comply with in order to invest in private money loans
Mandates that a mortgage broker must receive the approval of all of the investors on a loan if the mortgage broker is assigning out his interest on a loan that is in default###
CONTACT FOR MORE INFORMATION:
775-684-8595
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