California’s AG Pushing New Mortgage, Homeowner Protections

SACRAMENTO, Calif. (CBS SF/AP) – California’s attorney general is seeking to build on a recent nationwide bank settlement over home foreclosures by lobbying state lawmakers to advance a package of mortgage-protection bills.

The proposals by Attorney General Kamala Harris would provide safeguards for homeowners while giving her office more leeway to investigate financial crimes.

Harris plans to testify before legislative committees Monday and Wednesday as she promotes an 11-bill package that she is calling the California Homeowner Bill of Rights.

Harris was instrumental in negotiating a settlement with the nation’s top five banks in February that will bring $18 billion to California.

Her bill package would ban some of the worst practices that contributed to the housing crisis and write the terms of the national agreement into state law and apply them to every lender.

KCBS’ Holly Quan Reports:

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)


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