Certification of Exemption from Foreclosure Mediation Due by Jan. 31

Credit unions in Washington and Oregon have until the end of the month to renew their Certification of Exemption from Foreclosure Mediation to avoid the mandatory mediation clauses in both states’ foreclosure statutes.

Oregon Senate Committee Holds Hearing on Foreclosure Mediation Bill

The NWCUA is advocating for changes to a bill that would make technical updates to Oregon’s Foreclosure Avoidance Mediation Program. The legislation was heard yesterday by the State Senate’s General Government, Consumer and Small Business Protection Committee.

Reminder: Certification of Exemption from Foreclosure Mediation Due by January 31

Credit unions in Oregon and Washington have until the end of the month to renew the certifications to avoid the mandatory mediation clauses in the foreclosure statutes. The NWCUA’s compliance team has uploaded templates of the certifications online.

Oregon Legislative Week in Review

This Oregon Legislative Update outlines the eight mortgage/foreclosure bills currently of interest to credit unions during the Oregon Legislature’s first-ever “short session.”

Don’t Forget to Recertify for the Foreclosure Fairness Act!

All credit unions (yes, even Oregon credit unions) who do real estate lending in Washington State should be preparing their certifications to avoid a $250 fee and mandatory mediation on troubled real estate loans in 2012.