Posts Tagged ‘lobbyist’

Bill to fast track foreclosures has sparked a rare internal Florida Bar fight

Friday, March 29th, 2013

Below is a condensed version of an article written by Paola Iuspa-Abbott in The Daily Business Review. which included Roy Oppenheim .

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A controversial bill that aims to fast track foreclosures has sparked a rare internal fight among members of an influential Florida Bar section.

On one side are Bar members who assist homeowners facing foreclosure. Opposing them are members of the Bar’s Real Property, Probate and Trust Law Section who not only decided to support the foreclosure bill this year but also hired a lobbyist to get the bill passed in Tallahassee.

Members of the Real Property section say the bill offers many new protections to distressed homeowners and buyers of repossessed homes.

HB 87 is moving quickly through the House. But SB 1666 still needs to clear three Senate committees before it would receive a full vote.

“Under this bill, the presumption of innocence would be destroyed,” Oppenheim said.

This is the fourth year in a row a bill seeking to expedite foreclosures is before the Legislature.

In the past, Oppenheim was among Bar members who reviewed any proposed foreclosure legislation.

“Last year, we had people on my subcommittee who agreed with me that we didn’t like a lot of the stuff in the bill, so the Bar never agreed to approve or disapprove anything,” Oppenheim said, citing a measure that passed the House but died in the Senate for lack of action.

He was part of the section’s Mortgage and Encumbers Subcommittee until last year, when it was dismantled without notice, he said. The section was restructured and the Foreclosure Reform Ad Hoc Committee was created to help shape the proposed legislation. Oppenheim claimed he was left off the ad hoc committee because of his history of opposing foreclosure bills at a time when the section was eager to see the bill pass.

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The Hazard of Moral Hazard

Tuesday, January 15th, 2013

Roy Oppenheim’s commentary was originally published on Yahoo Homes! and is being redistributed on South Florida Law Blog with their permission

Businessman walking tightropeThose who cannot learn from history are doomed to repeat it.

We already know that the banks haven’t learned from their mistakes. They can and often will engage in risky behavior given the opportunity.

So why do regulators and those who have the chance to do something about it continue to give banks the wiggle room? Wall Street’s business model is inherently flawed, which is why banks are continually getting hit with hefty fines.

Yet banking lobbyists continue to hold immense clout in shaping regulation that will have a lasting impact on housing for years to come.

The business pages have been littered with headlines lately suggesting that governments still treat the banks like E.F. Hutton. When they talk, regulators still listen; case in point, the Basel Committee on Banking Supervision easing up on certain liquidity requirements in the Basel III rule. There is a great deal of dense technical jargon that will quite frankly bore most of you but the takeaway is this — banks still get their way and will still be able to take as many risks as they want.

Back here in the States, new mortgage lending rules trotted out by the Consumer Financial Protection Bureau are supposed to curtail so-called “liar loans” by requiring a more vigorous income verification process.

Except that those new tougher standards will be eased in over the next few years rather implemented immediately, so for the meanwhile it is business as usual.
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