508A0D9EFEAFBB7787258BC60074CEF2 Hearing Summary CLICS/CLICS2024A/commsumm.nsf PUBLICBILL SUMMARY For MORTGAGE MODIFICATION ACTJOINT COMMITTEE COMMITTEE ON COLORADO COMMISSION ON UNIFORM STATE LAWSDate Oct 30, 2024 Location HCR 0112 Mortgage Modification Act - Will not proceed forward this year Attachment Tag File Name Attachment https://www.leg.state.co.us/CLICS/CLICS2024A/commsumm.nsf/0/E2B4D81BE73C...$File/Mortgage Modifcation Act -no comments_2024.pdf?OpenElement Mortgage Modifcation Act -no comments_2024.pdf 03:15:53 PM Seth Holley, representing a Colorado Bar Association subcommittee within the Real Estate Counsel, testified that the act is not needed in Colorado and not recommended for introduction 03:15:54 PM Libby Snyder, Uniform Law Commission staff, responding to a question regarding the status of the act, stated that four states are considering it for introduction. 03:19:56 PM Commissioner Snyder asked for clarification regarding the the capitalization of interest effect on junior lien holders and the commission discussed moving the act forward versus tabling it for now. 03:25:43 PM Commissioner McGihon suggested working with the Colorado Bar Association, in conjunction with bankers, to see what in the act might need to be modified for Colorado. 03:30:47 PM Motion Moved that the Uniform Mortgage Modification Act's introduction be deferred for a year. Moved Charley Pike Seconded Gardner Yelana Love Donald Mielke Charley Pike Snyder Kerry Tipper Excused Joseph Whitfield Claire Levy Anne McGihon YES: 0 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: Pass Without Objection
