ALL PHOENIX REAL ESTATE

Posted on April 2nd, 2007 by Jonathan Dalton

Readers of this blog already knew this, but yesterday in the Arizona Republic, Catherine Reagor informed the masses that the mortgage loan office licensing bill had died a silent death in the state Legislature last week.

As I had mentioned in my post, nothing’s truly dead at the Legislature until sine die. And so it is that Sen. Jay Tibshraeny’s mortgage fraud bill received second life as a strike-all amendment to an unrelated measure.

Go back to my original post when this bill was announced in a blaze of television lights with a back-thumping Arizona Republic proudly taking credit …

A day after the Republic’s special investigation into the cash-back mortgage scheme, Sen. Jay Tibshraeny of Chandler introduced today a bill he’s had in the works. The legislation, Senate bill 1221, would make it easier for prosecutors to go after mortgage fraud in Arizona.

Is it possible to get a page one re-write?

Three month’s after the Republic’s special investigation into the cash-back mortgage scheme, Senate bill 1221 was on life support after the majority of the Legislature declined to take action. No press conference was held to announce the bill’s tenuous existence.

I’m not commenting on whether the death of these bills is good or bad since, as is the case with most legislation, the answer depends on your perspective. But I do wish the same trumpets that blared at the announcement were present at the demise.

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Categories: Real Estate Financing, Phoenix Market, General Real Estate