Legislative Update with Kayla Pulvermacher
by Kayla Pulvermacher
State Legislative Director

ND Legislative Report #3.

This last week has been full of bill introductions, bill withdrawals, and controversial bills hitting social media (SpaghettiOs, anyone?), and our weekly schedules are slowly getting longer. But, the first “light at the end of the tunnel” is due to hit today: The Senate will no longer be able to submit bills as of 5:00 p.m. As a result, we will have a clear picture of what we will be dealing with this session. 

Bills to Watch.

A new bill that has garnered our and the rest of the financial institution’s attention is SB 2223.  What this bill aims to do is unclear, but here’s the new language:

“If a deed in lieu of foreclosure is granted by a mortgagor to discharge a mortgage obligation to a mortgagee, the title to the real property that is the subject of the deed in lieu of foreclosure may not be transferred to the mortgagee until a judgment of foreclosure is entered, regardless of whether the deed in lieu of foreclosure was delivered to the mortgagee and recorded in the office of the recorder by the mortgagee before the judgment of foreclosure was entered.”

From how we interpret this language, it seems like the intentions are to slow down the entire deed in lieu of the foreclosure process, by requiring a foreclosure to happen first. There are some obvious problems with this, but most importantly, it takes a tool away from both the consumer and the lender, and we will be opposed. The hearing is set for January 28 at 2:15 p.m. (CT).

The Importance of Grassroots Activism.

As of this week, HB 1366 (The Repairman Lien bill) has not been scheduled for a hearing. We fully expect it to be scheduled next week, so stay tuned.

As lobbyists, we feel extremely honored that we get to represent our members every day at the State Capitol. It’s what makes being a part of your industry’s advocacy organization so important: As you go about your day doing the work you love, we inform you about issues that could affect that work. We become your voice when working with legislators.

As important as our job is to you, having a statewide membership that is willing to “have our back” when we need a hand is just as important to us. So, when those Action Alerts land in your inbox, take a moment to write a few emails. That’s what grassroots efforts are all about.

Be sure to contact me if you have any questions about our North Dakota advocacy plans. Have a great week!

<< Go to Memo List