Legislative Update: Senate Insurance Committee

SB 6 (Calderon): This bill would update California's Real Estate Law, Appraisal Law, and Civil Code, to reflect recent changes enacted at the federal level, pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank).

SB 6 passed the committee with a vote of 7-0.

SB 33 (Simitian): This bill would delete the January 1, 2013 sunset date on the Elder and Dependent Adult Financial Abuse Reporting Act, originally enacted in 2005.

SB 33 passed the committee with a vote of 7-0.

SB 53 (Calderon): This bill would make several changes to California's Real Estate Law, to give the Department of Real Estate (DRE) more enforcement tools with which to crack down against mortgage fraud and other real estate violations, add safeguards to protect consumers who seek out services from real estate licensees, and make technical changes, intended to clean up certain portions of the Real Estate Law.

SB 53 passed the committee with a vote of 6-1.

SB 412 (Vargas): This bill would clarify the scope of a measure enacted last year (SB 931, Ducheny, Chapter 701, Statutes of 2010). SB 412 was introduced, to ensure that SB 931 does not result in unintended, negative consequences, which could lead certain types of lenders to foreclose in lieu of approving a short sale.

SB 412 passed the committee with a vote of 7-0.