Homeowner Protection Bills Heading to California Governor

Two bills that will protect California homeowners from arbitrary foreclosures and loan fraud are on their way to Gov. Jerry Brown following their passage on Monday in the state Assembly and Senate, the San Jose Mercury News reports.
The bills, which passed 53 to 25 in the Assembly 53 to 25 and 25 to 13 in the Senate, would make California the first state to extend the provisions of the national mortgage settlement with five of the nation’s top banks to all homeowners.
If Brown signs them, they would establish a “single point of contact” for borrowers eligible for loan modifications, would give borrowers the right to sue before being foreclosed, and would impose a $7,500 fine for lenders who have filed unverified documents.