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6/29/2012 |
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Category: Member News
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Washington, D.C. (June 29, 2012) - Richard A. Lash, Esq., principal of the law firm of Buonassissi, Henning & Lash, P.C. (“BHL”), testified at the public hearing on Bill 19-676: Saving DC Homes from Foreclosure Clarification Amendment Act of 2012 announced by District of Columbia Councilmember Yvette M. Alexander, Chairperson of the Committee on Public Services and Consumer Affairs. The public hearing was held at 11AM on Thursday, June 28, 2012 in Room 412 of the John A. Wilson Building in Washington, D.C.
The stated purpose of Bill 19-676 is to amend an Act to extend to borrowers numerous new rights during the foreclosure process in the District of Columbia, including amendments to the mediation process and to its relationship to the foreclosure process.
Mr. Lash, a member of the Creditors’ Rights bar, in his remarks primarily addressed the issue of the proposed mediation rules related to the DC foreclosure process. Mr. Lash observed that the mediation provisions as proposed, including forcing the lender to submit evidence proving that the lender has standing to commence foreclosure against the borrower, were more akin to arbitration, impermissibly mixing concepts of assisting borrowers, who owe but can’t pay their loans, with an evidentiary hearing conducted by non-judicial mediators absent the normal checks and balances offered by the judicial system. Mr. Lash also addressed what he considered excessive penalties for lenders violating the subjective “good faith” standard which non-judicial “mediators” would be permitted to apply.
For more than 30 years, Buonassissi, Henning & Lash, P.C. has provided comprehensive legal representation to mortgage lenders, mortgage loan servicers and others in the Creditors’ Rights industry. The law firm is AV rated and is a Freddie Mac Designated Counsel in Maryland.
Contact:
Richard A. Lash, Esq.
Buonassissi, Henning & Lash, P.C.
(703) 796-1341, x1104
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