New California Purposed Laws

 

CAMB Bill Summary January 2008
AB 69     ( Lieu)  Mortgage lending: reporting. ( Amended  01/18/2008)
	Position:  W
	Existing law provides for the regulation of state commercial and industrial banks and credit unions by the Commissioner of Financial Institutions. Existing law requires those banks and credit unions to submit specified reports to the commissioner. Existing law provides for specified penalties for a violation thereof. This bill would , until July 1, 2010, require the entities described above, if servicing loans secured by real property, to report to the commissioner monthly with specified information related to different types of loans servicedby those entities, including whether the loans are past due, in foreclosure, or have been modified. The bill would require the Department of Financial Institutions to make information on these reports available on its Internet Web site , as specified. This bill contains other related provisions and other existing laws.
	Status: 02/07/2008-Referred to Com. on B., F. & I.
	Current Location: 02/07/2008-S B., F. & I.
AB 180     ( Bass)  Mortgages: foreclosure consultants. ( Amended  01/24/2008)
	Position:  AW
	Existing law defines a foreclosure consultant as a person who offers, for compensation, to perform specified services for a homeowner relating to a foreclosure sale, except as specified. Existing law authorizes a foreclosure consultant to assist the owner of a residence in obtaining the remaining proceeds from a foreclosure sale of that residence. This bill would delete the provisions of law authorizing a foreclosure consultant to provide the service described above. This bill contains other related provisions and other existing laws.
	Status: 02/07/2008-Referred to Com. on JUD.
	Current Location: 02/07/2008-S JUD.
AB 239     ( DeSaulnier)  Recording fees: Contra Costa and San Mateo Counties. ( Amended  04/30/2007)
	Position:  W
	Existing law establishes the fees to be charged by the county recorder for recording and indexing every instrument, paper, or notice required or permitted by law to be recorded. Existing law, including provisions of the California Constitution, subject local governmental agencies to various requirements when imposing, increasing, or extending general or special taxes, fees, and other local exactions. This bill would authorize the Contra Costa County Board of Supervisors or the San Mateo Board of Supervisors to additionally charge a flat fee of not more than $25, as specified for each document that is recorded, if the document is in excess of one page, for every real estate instrument, as defined, paper, or notice required or permitted by law to be recorded in Contra Costa County or San Mateo County. The bill would require the Contra Costa County Board of Supervisors or the San Mateo County Board of Supervisors, if it charges this fee, to establish a fund for deposit of the moneys raised by the increase, which shall be used to assist in the development of affordable housing for extremely low income households, very low income households, lower income households, and moderate-income households. This bill contains other related provisions.
	Status: 06/27/2007-In committee: Set, first hearing. Hearing canceled at the request of author.
	Current Location: 06/07/2007-S L. GOV.
AB 250     ( DeVore)  Nonprobate transfers: revocable transfer upon death deeds. ( Amended  06/28/2007)
	Position:  ?
	Existing law provides that a person may pass real property to a beneficiary at death by various methods including by will, intestate succession, trust, and titling the property in joint tenancy, among others. This bill would create the revocable transfer on death deed (revocable TOD deed), as defined, which would transfer real property on the death of its owner without a probate proceeding. The bill would require that a person have testamentary capacity to make or revoke the deed and would require that the deed be in a statutory form provided for this purpose. The revocable TOD deed must be signed, dated, and acknowledged, as specified, and recorded to be effective. The bill would provide, among other things, that the deed, during the owner's life, does not affect his or her ownership rights and, specifically, is part of the owner's estate for the purpose of Medi-Cal eligibility and reimbursement. The bill would void a revocable TOD deed if, at the time of the owner's death, the property is titled in joint tenancy or as community property with right of survivorship. The bill would establish priorities for creditor claims against the owner and the beneficiary of the deed in connection with the property transferred and limits on the liability of the beneficiary. The bill would establish a process for contesting the transfer of real property by a revocable TOD deed. The bill would also make conforming and technical changes. The bill would require the California Law Revision Commission to study and make recommendations regarding the revocable TOD deed to the Legislature by January 1, 2012. This bill contains other related provisions and other existing laws.
	Status: 07/16/2007-In committee: Set, first hearing. Hearing canceled at the request of author.(Corrected July 13.)
	Current Location: 07/10/2007-S JUD.
AB 326     ( Benoit)  State Compensation Insurance Fund. ( Amended  06/05/2007)
	Position:  W
	Existing law provides for the existence of the State Compensation Insurance Fund and provides that the board of the fund is composed of 5 members, appointed by the Governor, with terms as specified. This bill would state findings and declarations regarding the governance of the State Compensation Insurance Fund. This bill contains other related provisions and other existing laws.
	Status: 06/21/2007-Referred to Com. on B., F. & I.
	Current Location: 06/21/2007-S B., F. & I.
AB 372     ( Salas)  Consumer credit reports: security freezes. ( Amended  01/23/2008)
	Position:  W
	Existing state and federal law defines and regulates consumer credit reports. Existing state law permits a consumer to place a security freeze on his or her credit report by making a request in writing by certified mail to a consumer credit reporting agency. Existing law requires an agency to place a security freeze on the consumer's credit report within 5 business days after receiving a request by the consumer. Existing law allows an agency to charge a fee of no more than $10 to a consumer for each freeze, removal of a freeze, or temporary lift of a freeze, and no more than $12 for a temporary lift of a freeze for a specific party, except as specified. Existing law requires a consumer credit reporting agency to provide a written summary of rights to a consumer in specified circumstances. This bill would instead require that a request be sent by mail rather than by certified mail and would require a consumer credit reporting agency to place a security freeze within 3 business days after receiving a request from a consumer. The bill would authorize an agency to charge a fee of no more than $10 to a consumer under 65 years of age and $5 to a consumer 65 years of age or older for placing , temporarily lifting, or permanently removing a security freeze, except as specified. The bill would make certain changes to the written summary of rights described above .
	Status: 02/07/2008-Referred to Com. on JUD.
	Current Location: 02/07/2008-S JUD.
AB 512     ( Lieber)  Contracts: translation. ( Amended  09/07/2007)
	Position:  O/UA
	Existing law requires a person in a trade or business who negotiates specified contracts or agreements primarily in the languages of Spanish, Chinese, Tagalog, Vietnamese, and Korean to deliver to the other party prior to execution of the contract or agreement, a translation of the contract or agreement in the applicable foreign language, except as specified. Under existing law, failure to comply with these provisions entitles the aggrieved party to rescind the contract or agreement. Under existing law, these provisions apply to specified loans or extensions of credit subject to the Industrial Loan Law and the California Finance Lenders Law. This bill would provide that these provisions also apply to specified loans or extensions of credit subject to the California Residential Mortgage Lending Act. The bill would also require supervised financial organizations, as defined, that make loans secured by real property to provide a summary translation of specified contract terms, in a form created by the Secretary of Business, Transportation and Housing , as specified, to be drafted in each of the languages described above. The bill would provide that its provisions are severable.
	Status: 09/10/2007-Re-referred to Com. on RLS. pursuant to Senate Rule 29.10. Re-referred to Com. on B., F. & I. pursuant to Senate Rule 29.10. (Ayes 4. Noes 0.)
	Current Location: 09/07/2007-S B., F. & I.
AB 529     ( Torrico)  Mortgages: adjustable interest rates: notification. ( Amended  01/22/2008)
	Position:  W1
	Existing state and federal law regulate the provision of loans that are secured by real property. Existing law prohibits a lender from accelerating the maturity date of the principal and interest on loans secured by a mortgage or deed of trust on residential real property solely by reason of specified transfers of the title. This bill would require a lender who provides a loan secured by property improved by 4 or fewer residential units, and the interest rate on the loan is initially fixed and then becomes adjustable, to notify the borrower of specified items of information 120 days, 60 days, and 30 days prior to an interest rate adjustment , as specified . The bill would provide that the notification requirements are satisfied if the lender either personally delivers the notice or mails it, as specified .
	Status: 02/07/2008-Referred to Coms. on B., F. & I. and JUD.
	Current Location: 02/07/2008-S B., F. & I.
AB 588     ( De Leon)  Credit history: public utilities. ( Amended  07/05/2007)
	Position:  ?
	(1) Existing state and federal law define and regulate credit reporting agencies, as defined. Existing law prohibits certain items of information from appearing in credit reports, including adverse information that antedates the report by more than 7 years. This bill would authorize each interval-billing public utility, as defined, and interval-billing publicly owned utility, as defined, upon receipt of the express written consent of a subscriber, to make the subscriber's utility service payment history available to a financial institution, as defined, specified by the subscriber. The bill would authorize an interval-billing public utility and interval-billing publicly owned utility to elect to provide subscriber utility service payment history to a consumer credit reporting agency, as defined, upon meeting certain notice and other requirements , and to recover reasonable related costs, as determined by the commission . The bill would make the governing board of the publicly owned utility responsible for implementing the bill's requirements. By placing additional requirements upon publicly owned utilities, the bill would impose a state-mandated local program. This bill contains other related provisions and other existing laws.
	Status: 07/09/2007-In committee: Set, first hearing. Hearing canceled at the request of author.
	Current Location: 07/05/2007-S JUD.
AB 1188     ( Coto)  Escrow: disbursements. ( Amended  04/24/2007)
	Position:  ?
	Existing law provides that a borrower under a note secured by a mortgage or deed of trust on one to four residential units shall not be required to pay interest for more than one day prior to the date that the loan proceeds are disbursed out of escrow or disbursed to the borrower or to another party on behalf of the borrower. This bill would make a technical, nonsubstantive change to that provision. This bill contains other related provisions and other existing laws.
	Status: 06/07/2007-Referred to Coms. on B., F. & I. and JUD.
	Current Location: 06/07/2007-S B., F. & I.
AB 1301     ( Gaines)  Financial institutions. ( Amended  01/08/2008)
	Position:  ?
	Existing law, the Banking Law, provides for the licensure and regulation by the Commissioner of Financial Institutions of various financial institutions, including banks, commercial banks, and trust companies. This bill would revise and recast various provisions applicable to these financial institutions, including, among others, provisions relating to the location of bank offices and to the powers, prohibited practices, and penalties applicable to banks. The bill would authorize the commissioner to adopt and implement methods of accepting electronic filings of applications, reports, and other matters. The bill would authorize a bank, with the approval of the commissioner, to be formed to facilitate a merger or an acquisition of control, as specified. The bill would establish loan and investment limitations for a bank to hold obligations made by a person and securities issued by that same person. The bill would require the applicable minimum of specified eligible assets of a foreign (other nation) bank to be no less than 1% of the adjusted liabilities of the bank, instead of 5%. The bill would make it a crime for a subject person of a bank, as defined, as a former subject person of a bank to engage in specified acts with a licensee , as defined, if that person was issued an order of suspension or removed, and thereby would impose a state-mandated local program. The bill would require the commissioner to examine California state banks and foreign banks no less than once every 12 months, except that specified California state banks and foreign banks would be required to be examined pursuant to federal standards. The bill would make various conforming and related changes. This bill contains other related provisions and other existing laws.
	Status: 02/07/2008-Referred to Com. on B., F. & I.
	Current Location: 02/07/2008-S B., F. & I.
AB 1356     ( Houston)  Real property: equity purchasers. ( Amended  01/22/2008)
	Position:  ?
	Under existing law, an equity purchaser is liable for all damages resulting from any statement made , or act committed by , the representative of the equity purchaser, as defined, in any manner connected with the equity purchaser's acquisition of a residence in foreclosure, receipt of any consideration or property from or on behalf of the equity seller, or the performance of certain prohibited acts. Existing law requires the representative of the equity purchaser to provide a statement in writing to all parties to the contract, under penalty of perjury, and written proof of licensure and bonding to the equity seller, as specified. This bill would instead require the representative of an equity purchaser to provide to the parties to a contract written proof of licensure, as specified. The bill would also require the representative to provide a statement under penalty of perjury and written proof to the parties to the contract that he or she has either (1) satisfied a certain minimum professional liability coverage requirement and has an unrestricted real estate license in good standing, as described by the regulations of the Real Estate Commissioner, that is not restricted pursuant to the Real Estate Recovery Program, as specified , or (2) met a certain minimum bonding requirement . This bill contains other related provisions and other existing laws.
	Status: 02/07/2008-Referred to Coms. on JUD. and PUB. S.
	Current Location: 02/07/2008-S JUD.
AB 1418     ( Arambula)  Credit Union Membership Investment Model. ( Amended  01/07/2008)
	Position:  ?
	Existing law establishes a Credit Union Advisory Committee in the Department of Financial Institutions to advise the Commissioner of Financial Institutions and the Deputy Commissioner of Financial Institutions for the Division of Credit Unions on matters relating to credit unions. This bill would require the Credit Union Advisory Committee, by November 1, 2009, to develop, in consultation with the commissioner, a Credit Union Membership Investment Model that would serve as a framework for the Department of Financial Institutions to identify credit union best practices relating to community development, small business and microenterprise financing, and investments of credit union capital. The bill would require the best practices to meet specified objectives for credit unions. The bill would require the Credit Union Membership Investment Model to be posted on the department's Internet Web site and updated as appropriate . The bill would require the commissioner to report annually on the progress in implementing the model and highlight new best practices identified and shared during the year.
	Status: 02/07/2008-Referred to Com. on B., F. & I.
	Current Location: 02/07/2008-S B., F. & I.
AB 1502     ( Lieu)  Banking development districts. ( Amended  06/25/2007)
	Position:  ?
	Existing law provides for various programs and activities in the development of economic opportunities for businesses in the state. The California Small Business Financial Development Corporation Law establishes small business financial development corporations and provides for their regulation by the Business, Transportation and Housing Agency. Existing law, the Banking Law, provides for the regulation of banks by the Department of Financial Institutions. This bill would create a Banking Development District Program, within the Treasurer's office, which would encourage the establishment of banking branches in specially designated geographic locations where there is a demonstrated need for banking services. The bill would require the Treasurer and the Department of Financial Institutions to adopt rules and regulations for the establishment and maintenance of banking development districts and to evaluate and approve applications for designation of banking development districts. The bill would require the Treasurer and the department to develop and provide certain incentives to banks located in a banking development district. The bill would also require the Treasurer and the department to collaborate to create a performance review process for the program, as specified.
	Status: 07/05/2007-In committee: Set, second hearing. Hearing canceled at the request of author.
	Current Location: 07/02/2007-S B., F. & I.
AB 1534     ( Nunez)  Deferred deposit transactions. ( Amended  07/05/2007)
	Position:  ?
	Existing law, the California Deferred Deposit Transaction Law, prohibits a person from offering, originating, or making a deferred deposit transaction without first obtaining a license from the Commissioner of Corporations. Existing law requires the commissioner to, by December 1, 2007, report to the Governor and the Legislature on its implementation of the California Deferred Deposit Transaction Law. This bill would require the commissioner, on or before March 1, 2008, to submit a report to the Governor and the Legislature that, among other things, summarizes the results of a study on, and includes various information related to, payday loans.
	Status: 09/11/2007-To inactive file on motion of Senator Perata.
	Current Location: 09/11/2007-S INACTIVE FILE
AB 1561     ( Calderon, Charles)  Taxation: federal conformity. ( Amended  06/14/2007)
	Position:  ?
	Under the Personal Income Tax Law and the Corporation Tax Law, various provisions of the federal Internal Revenue Code, as enacted as of a specified date, are referenced in various sections of the Revenue and Taxation Code. Those laws provide that for taxable years beginning on or after January 1, 2005, the specified date of those referenced Internal Revenue Code sections is January 1, 2005, unless otherwise specifically provided. Existing law requires, for any introduced bill that proposes changes in any of those dates, that the Franchise Tax Board prepare a complete analysis of the bill that describes all changes to state law that will automatically occur by reference to federal law as of the changed date. It further requires the Franchise Tax Board to immediately update and supplement that analysis upon any amendment to the bill, and requires that analysis be made available to the public and be submitted to the Legislature for publication in the daily journal of each house of the Legislature. This bill would change the specified date of those referenced Internal Revenue Code sections to January 1, 2007, for taxable years beginning on or after January 1, 2007, and thereby would make numerous substantive changes to both the Personal Income Tax Law and the Corporation Tax Law with respect to those areas of preexisting conformity that are subject to changes under federal laws enacted after January 1, 2005, and that have not been, or are not being, excepted or modified. This bill would make certain other changes in federal income tax laws applicable, with specified exceptions and modifications, and make specified supplemental, technical, or clarifying changes for purposes of the Personal Income Tax Law or the Corporation Tax Law, or both, with respect to, among other things, the tax treatment of certain disaster mitigation payments, depreciation of electric transmission property and natural gas gathering lines, amortization of certain atmospheric pollution control facilities and geological and geophysical expenditures, nuclear decommissioning cost provisions, a small refiner exception to oil depletion deduction, recapture rules for amortizable Section 197 intangibles, amortization of expenses incurred in creating or acquiring music or music copyrights, treatment of certain self-created musical works and qualified retirement income, funding for self-employed defined benefit pension plans and for multiemployer defined benefit pension plans, withdrawals from retirement plans for individuals called to active duty, waiver of an early withdrawal penalty tax on certain distributions of pension plans for public safety employees, allowance of additional IRA payments in certain bankruptcy cases, inflation indexing of gross income limitations on certain retirement savings incentives, treatment of death benefits from corporate-owned life insurance, exemption of income from leveraged real estate held by church plans, gratuitous transfer for benefits of employees, deductions for charitable contributions and tax treatment of certain payments to controlling tax-exempt organizations, contributions of specified real property made for conservation purposes, frivolous tax submissions, exclusion of gain from sale of principal residence by certain employees of the intelligence community, sale of property by judicial officers, excise tax on UBTI of charitable remainder trusts, certain listed and reportable transactions provisions, the taxation of certain settlement funds, the active business requirement, loans to qualified continuing care facilities, exception from suspension rules, and specified federal acts. This bill would also increase the age of minor children whose unearned income is taxed as if a parent's income and would revise, in modified conformity with the federal income tax laws, various provisions applicable to tax-exempt organizations. This bill contains other related provisions.
	Status: 08/30/2007-In committee: Placed on Appropriations suspense file.
	Current Location: 08/30/2007-S APPR. SUSPENSE FILE
AB 1565     ( Lieber)  Insurance policies: nonprofit organizations. ( Amended  01/10/2008)
	Position:  AW
	Under existing law, an insurer that issues policies to certain nonprofit organizations is prohibited from canceling or refusing to renew the policy, or from imposing an excessive or discriminatory premium solely on the basis that one or more claims has been made against the policy for a loss that is the result of a hate crime or antireproductive-rights crime, as defined. This bill would add a crime against a place of religious observance or practice, as defined, to those crimes. It would also redefine the term "hate crime" for these purposes.
	Status: 02/07/2008-Referred to Com. on B., F. & I.
	Current Location: 02/07/2008-S B., F. & I.
AB 1574     ( Houston)  Real property: transfer fees. ( Amended  07/05/2007)
	Position:  S
	Existing law permits various fees to be included in the price of a residential real estate transfer. Existing law requires the disclosure of specified attributes of residential real property prior to the transfer of title, including disclosure of a continuing lien levy of special taxes, as specified. This bill would regulate the imposition of transfer fees, to be defined as a fee payment requirement imposed in any covenant, restriction, or condition contained in any deed, contract, security instrument, or other document affecting the transfer or sale of real property that requires a fee be paid upon transfer of the real property, with specified exceptions. The bill would provide that a transfer fee imposed upon residential real property not otherwise excepted may only be received and used by a public entity or a nonprofit organization to fund a project or facility or to provide a service that provides a public benefit, as specified. The bill would require the facility to be located in, or the service provided in, the same region where the real property is located, as defined. The bill would permit a transfer fee to be imposed only for a period of time no greater than 99 years from the time it is first recorded or until an amount of funding specified in the transfer fee covenant, if any, is collected , and would prohibit the total of transfer fees imposed from exceeding 2% of the sale price of the property . The bill would require a person imposing a transfer fee to make a specified recording in connection with the property, and requires an entity receiving funds from the fee to make a recording when the aggregate amount of funding has been satisfied. The bill would require a transferor of residential real property subject to transfer fees to make a specified disclosure regarding those fees. This bill contains other related provisions and other existing laws.
	Status: 07/10/2007-In committee: Set, first hearing. Hearing canceled at the request of author.
	Current Location: 07/10/2007-S JUD.
AB 1699     ( Duvall)  Insurance: surplus line brokers' fees. ( Amended  01/24/2008)
	Position:  W
	Existing law provides that the filing fee for a license to act as a surplus line broker is $700 every 2 years, or for any initial fractional license year. This bill would provide that the filing fee for a license to act as a surplus line broker is $1,000 every 2 years, or for any initial fractional license year. This bill contains other related provisions.
	Status: 02/07/2008-Referred to Com. on B., F. & I.
	Current Location: 02/07/2008-S B., F. & I.
AB 1830     ( Lieu)  High-cost, subprime, and nontraditional loans. ( Introduced  01/23/2008)
	Position:  AO
	Existing law imposes certain limitations and prohibitions on licensed persons, including real estate brokers, finance lenders, residential mortgage lenders, and financial institutions, with respect to consumer loans and covered loans. Existing law defines a "consumer loan" as a consumer credit transaction secured by residential real property, subject to certain exceptions, and defines a "covered loan" as a consumer loan that meets certain other requirements. Existing law prohibits a covered loan from including a prepayment penalty after the first 36 months from the date of consumation of the loan but authorizes a covered loan to include a prepayment penalty before that time period if specified conditions are satisfied. Existing law prohibits a covered loan from being made unless a specified disclosure is provided to the consumer no later than 3 business days prior to signing of the loan documents. Violations of these limitations and prohibitions by licensed persons are deemed to be violations of the person's licensing law and may be punishable by, among other things, disciplinary action, civil liability, and the imposition of administrative penalties and civil penalties up to $25,000, as specified. This bill would redefine a "covered loan" as a "high-cost loan," would establish "subprime loans" and "nontraditional loans," as defined, as new categories of regulated loans, and would make various conforming changes to existing law relative to these loans. The bill would prohibit a high-cost loan from including prepayment penalties and from including at origination a payment schedule with regular periodic payments that, when aggregated, do not fully amortize the principal balance as of the maturity date of the loan. The bill would prohibit a person from making a high-cost loan unless at the time the loan is consumated the person believes the consumer will be able to make the scheduled payments, including taxes and insurance and would prohibit a high-cost loan from being originated as a stated income loan, except as specified. The bill would prohibit a person who originates a high-cost loan from receiving a yield spread premium or other incentive compensation and would prohibit a person from originating a high-cost loan unless an escrow or impound account is established for a specified period of time. The bill would delete the provisions requiring a disclosure to be provided to a consumer prior to making a covered loan and would instead prohibit a high-cost loan from being made unless a consumer receives a certificate of certain counseling. The bill would establish similar limitations and prohibitions for subprime and nontraditional loans but would require a specified disclosure to be provided to a consumer before those loans could be made. The bill would authorize a licensing agency to levy administrative penalties in an amount up to $10,000 against a person who violates the provisions regulating high-cost, subprime, and nontraditional loans and would make a person who makes a willful and knowing violation of those provisions of law liable to the consumer in the amount of $25,000 or the consumers actual damages, whichever is greater. The bill would authorize private causes of action by a consumer against a licensed person to recover damages for a violation of the provisions regulating high-cost, subprime, or nontraditional loans. The bill would provide that it is a defense against foreclosure on a property secured by a high-cost, subprime, or nontraditional loan if the loan is in violation of the laws regulating those loans. The bill's provisions would apply to high-cost, subprime, and nontraditional loans originated on or after January 1, 2009.
	Status: 02/07/2008-Referred to Coms. on B. & F. and JUD.
	Current Location: 02/07/2008-A B. & F.
AB 1837     ( Garcia)  Consumer loans: subprime and nontraditional loans. ( Introduced  01/24/2008)
	Position:  ?
	Existing law imposes certain limitations and prohibitions on licensed persons, including real estate brokers, finance lenders, residential mortgage lenders, and financial institutions, with respect to consumer loans and covered loans. Existing law defines a "consumer loan" as a consumer credit transaction secured by residential real property, subject to certain exceptions, and defines a "covered loan" as a consumer loan that meets certain other requirements. Existing law prohibits a covered loan from including a prepayment penalty after the first 36 months from the date of consumation of the loan but authorizes a covered loan to include a prepayment penalty before that time period if specified conditions are satisfied. Violations of these limitations and prohibitions by licensed persons are deemed to be violations of the person's licensing law and may be punishable by, among other things, disciplinary action, civil liability, and the imposition of administrative penalties and civil penalties up to $25,000, as specified. This bill would prohibit a covered loan from including a prepayment penalty after the first 24 months from the date of consumation of the loan and would authorize a covered loan to include a prepayment penalty before that time period if specified conditions are satisfied. The bill would define the terms "subprime loan" and "nontraditional loan" and would prohibit these loans from including prepayment fees or penalties. The bill would also prohibit a licensed person from receiving any compensation for originating a subprime loan or nontraditional loan with an interest rate above the wholesale par rate for which the consumer qualifies. The bill's provisions would apply to consumer loans originated on or after January 1, 2009.
	Status: 02/07/2008-Referred to Com. on B. & F.
	Current Location: 02/07/2008-A B. & F.
AB 1867     ( Keene)  Real estate appraisers. ( Introduced  01/31/2008)
	Position:  ?
	Existing law, the federal Financial Institutions Reform, Recovery and Enforcement Act of 1989, prohibits the criteria established by the federal financial institutions regulatory agencies, among other organizations, from excluding a certified or licensed appraiser for consideration for an assignment solely by virtue of membership or lack of membership in any appraisal organization. This bill would provide that when a public agency, including, but not limited to, a city or county, decides that a contract with a designated member of an appraisal organization is necessary to provide an appraisal, as defined, of real property, any designated member of any appraisal organization that is a member of the Appraisal Foundation shall be allowed to submit a proposal if specified criteria are met. The bill would authorize that member to bring a civil action for equitable relief against a public agency that violates this provision, as specified, and would prohibit the office from participating in that action. The bill would prohibit a public agency from requiring the member to waive certain rights, including the right to bring that action, as a condition of submitting a proposal or doing business with the agency. The bill would require that a waiver by a member of the right to file and pursue a civil action be knowing, voluntary, and not made a condition of submitting a proposal or doing business with a public agency, and would, among other things, provide that the public agency has the burden of proving that the waiver meets those conditions. The bill would also prohibit construing the Real Estate Appraisers' Licensing and Certification Law to require or authorize the office or the director to enforce these provisions. This bill contains other related provisions and other existing laws.
	Status: 02/01/2008-From printer. May be heard in committee March 2.
	Current Location: 01/31/2008-A PRINT
AJR 45     ( Coto)  Mortgage loans: conforming loan limit. ( Introduced  01/31/2008)
	Position:  ?
	This measure would respectfully urge the President and Congress of the United States to raise the federal conforming loan limit to $625,000, as specified.
	Status: 02/01/2008-From printer.
	Current Location: 01/31/2008-A PRINT
SB 328     ( Corbett)  Personal information: prohibited practices. ( Amended  04/09/2007)
	Position:  W
	Existing law requires a business to ensure the privacy of a customer's personal information, as defined, contained i