Today it is expected that a late Bill will be introduced in the Colorado Legislator proposing to mandate undefined loss mitigation efforts by the lender prior to foreclosure.  Although there may be merit underlying this effort, the late nature of the legislation and the impact on the judiciary and lending industry would be massive and should not be taken lightly.  The proposed requirements and procedures will have a fiscal impact and participation by all interested parites should be had before implementing more changes on the heels of the major foreclosure law reform last year.

House Bill 1157 sponsored by House Assistant Majority Leader Representative Michael Garcia has completed its Senate and confirmation hearings as in now on the Governor's desk for signature.

House Bill 1157 sponsored by House Assistant Majority Leader Representative Michael Garcia was heard by the Business Affairs Committe on February 8th, 2007 and unanimously approved, 9-0.

The 2007 session of the Colorado legislature is in full swing.  Robert J. Hopp is once again active in the session promoting legislative changes in the real estate and foreclosure statutes.

Government Technology Systems, LLC initiated a strong marketing campaign across Colorado introducing its electronic foreclosure software, GTSData.

Recognizing increased default rates in the southwest, Robert J. Hopp has expanded the services offered to mortgage servicers and lenders in the areas of default.

House Bill 1387 was signed, with effective dates of July 1st 2006 and July 1st 2007.

Two major pieces of legislation impacting Colorado lenders and mortgage servicers were passed in the 2006 session of the Colorado General Assembly.