Update on Home Foreclosure Mediation
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May 2012 |
- Oregon has enacted legislation to reform its foreclosure process and provide mandatory mediation for homeowners. The legislation ends the dual track in which foreclosure continued even while homeowners sought to negotiate alternatives. While Oregon joins 21 other states with foreclosure mediation programs, it is the first state in the country to require lenders to participate in mediation even before a borrower is in default, if the borrower seeks mediation before they fall behind. Experts are working out the details of the mediation program required by the legislation, which goes into effect on July 12, and are raising concerns about having enough housing counselors and mediators for the program. Salem-News.com (April 11, 2012); Statesman Journal.com (March 18, 2012)
- Maryland has enacted legislation to expand the state’s foreclosure mediation program to include pre-foreclosure mediation, so that parties need not wait until the situation worsens in order to mediate. However, both borrower and lender must agree to pre-foreclosure mediation. Early mediation satisfies the program’s mediation requirement, unless the parties agree otherwise. Baltimore Sun.com (April 16, 2012); HB 1374
- The Nevada Supreme Court affirmed the trial court’s decision that a foreclosure mediation agreement signed by the parties was an enforceable settlement that could not be undermined by later assertions that the bank did not provide the documents required by statute and rule. Once the settlement agreement was signed, any issues of improper documentation were waived. Jones v. Sun Trust Mortgage, Inc., No. 57748 (Nev., April 26, 2012)
- The Foreclosure Mediation Program in Nevada has begun sending a letter to homeowners following unsuccessful foreclosure mediations to alert them that the lender may move forward with foreclosure and that homeowners have the right to seek judicial review. JD Supra (March 23, 2012)
- The Madison County Foreclosure Mediation Program in Illinois has had a successful first ten months, with about half of all homeowners in the program avoiding foreclosure. The Program is now partnering with the St. Louis University Legal Clinic. Alton Daily News.com (April 15, 2012)
Biography
Keith L. Seat is a full-time mediator and arbitrator who can effectively assist parties in resolving a wide range of telecommunications, antitrust and other commercial disputes. With over twenty years of legal experience as a mediator, arbitrator, litigator, advocate before executive branch agencies, and key staffer in the legislative and judicial branches, Mr. Seat brings a wealth of experience to his work as a mediator and arbitrator to help parties reach successful resolutions of complex disputes.
Mr. Seat began his legal career in a federal clerkship with U.S. District Judge William H. Becker, and then litigated antitrust and commercial disputes for many years at a major Washington law firm, Howrey, Simon, Arnold & White, where he first worked on telecom and technology issues. In 1993, Mr. Seat was named General Counsel of the Antitrust, Business Rights and Competition Subcommittee of the U.S. Senate Judiciary Committee, where he served for four years, playing a significant role in the enactment of the Telecommunications Act of 1996. Returning to the private sector in 1997, Mr. Seat rounded out his experience with a senior in-house counsel position at MCI, one of the nation’s largest telecommunications firms. At MCI, he gained a first-hand appreciation for the important perspective brought to issues and disputes by in-house decision-makers. Mr. Seat also deepened his knowledge of telecom issues and gained experience addressing competition-related issues in the corporate setting, as well as helping resolve disputes among large organizations.
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