Archive for the ‘Press Releases’ Category

Need for legislation more urgent than ever for struggling Oregon homeowners

SALEM – Oregon Senate Democrats welcomed news from the Attorney General’s office this morning that Oregon will sign on to a multi-state agreement with five of the nation’s largest banks. The settlement addresses concerns about systemic fraud in the foreclosure and mortgage systems brought to light over the last several years.

“This settlement is welcome news for many thousands of Oregonians who have lost their homes or are facing foreclosure,” said Senate Majority Leader Diane Rosenbaum (D-Portland). “But our work is not done. This settlement will set quality standards for the largest lenders, but further legislative action is needed to protect all homeowners and set standards for the wide range of lenders that participate in Oregon’s marketplace.”

While today’s settlement is a breakthrough in addressing the foreclosure crisis, it does not apply to all lenders and does not provide help to the thousands of Oregonians who are already at risk of foreclosure. Senate Democrats have introduced two bills this session that will help homeowners facing foreclosure. Senate Bill 1564 would eliminate the dual-track process in which banks that are in the process of negotiating a mortgage modification with a homeowner are simultaneously pursuing foreclosure.

“Anyone driving around my district can see that we have a crisis on our hands when it comes to people losing their homes,” said Deputy Majority Leader Alan Bates (D-Medford), a chief sponsor on both foreclosure bills. “We need to act this session to help middle class families who are struggling to keep a roof over their heads.”

The other bill introduced in the Senate, SB 1552, is based on pre-foreclosure mediation programs that have proved successful in 21 other states. The bill would allow homeowners to meet with their lender in the presence of a neutral third party before a lender can proceed with a foreclosure sale. Advocates hope that a portion of the state settlement money will be used to build and operate a mediation program modeled after those utilized in other states.

“We need a system that clearly outlines the rules for struggling homeowners and their lenders,” said Senator Lee Beyer (D-Springfield), also a chief sponsor on both foreclosure bills. “Too many Oregon families are at risk of losing everything.  This bill will establish clear communication and basic fairness for Oregon homeowners.”

The terms of the multistate agreement announced this morning include apply to nation’s five largest loan servicers: Bank of America, JPMorgan Chase, Wells Fargo, Citibank and Ally Financial. For eligible borrowers, these terms include:

• Principal reduction;
• Enhanced opportunities to refinance or modify a loan;
• Payments to certain borrowers who lost their homes to foreclosure;
• Payments to participating states to fund foreclosure prevention programs;
• Nationwide reforms to servicing standards; and
• Enforcement provisions with strict penalties to assure compliance

Oregonians can find more information about the settlement announced this morning at: http://www.doj.state.or.us/homeowners/faqs.shtml

Encouraging employment numbers released this morning, but help still needed for many

SALEM –Members of the Oregon Senate Democratic Caucus signed on to a letter to Congress today urging swift action on an extension of unemployment benefits for those who continue to struggle with finding work in the wake of the global recession. Oregon’s unemployment rate for November, released this morning, was the lowest in three years at 9.1 percent, but too many Oregonians continue to look for work. Federal benefits to help them are set to expire at the end of the year unless Congress acts.

“These extensions provide much-needed assistance, helping families keep food on the table and a roof over their heads while they continue looking for work,” said Senate Majority Leader Diane Rosenbaum (D-Portland) “Oregon has suffered more than many states in the wake of the worldwide economic meltdown. While we are starting to see more encouraging signs in our recovery, 9.1 percent is still too high. These benefits help Oregonians survive while they’re working to find a job.”

During the 2011 Legislative Session, Rosenbaum was a chief sponsor of Senate Bills 637 and 638, two bills that allowed for an extension of unemployment insurance benefits to many Oregonians who continue to struggle with finding work. Both bills received unanimous support from Senate Democrats.

“Unemployment benefits not only help families make ends meet, they help communities prosper,” said Senator Laurie Monnes Anderson (D-Gresham). “These dollars go straight into local economies in the form of rent, groceries, and other essentials. If Congress fails to act, it would be detrimental to everyone’s economic recovery.”

The letter to Congress, originated by the AFL-CIO, outlines the necessity of unemployment benefits for workers who are unable to find work.  Joining Senators Rosenbaum and Monnes Anderson in the letter to Congress are:

Senate President Peter Courtney

Senate President Pro Tempore Ginny Burdick

Deputy Senate Majority Leader Alan Bates

Senator Lee Beyer

Senator Richard Devlin

Senator Jackie Dingfelder

Senator Mark Hass

Senator Rod Monroe

Senator Chip Shields

Senator Floyd Prozanski

Senator Joanne Verger

SALEM – Senate Majority Leader Diane Rosenbaum released the following statement this morning following the release of the December 2011 Revenue Forecast:

“Today’s forecast further demonstrates that we continue to face uncertain times in Oregon. Senate Democrats recognize that middle class families and small businesses are struggling to make ends meet. This volatility on Wall Street and in Europe means we must diligently monitor the economic situation while we prepare for budget adjustments in the upcoming February session.”

“This forecast is one piece of the puzzle as legislative leaders and budget writers to work together to create a plan for the February session. The forecast we receive in February will make clear what we have to work with as we re-balance the state budget while fighting to protect the essential services Oregonians rely on – our schools, services to the most vulnerable, and the safety of our communities. Just as we do every session, we will fight to protect middle class families and small businesses when the Legislature reconvenes in February.”

Small business owners, state leaders testify on legislation from recent session

SALEM – Two Senate Interim Committees have small business support and job growth on the agenda for the first of three September Legislative days being held in Salem today. The committees will hear from experts on how to grow Oregon jobs and help small businesses prosper.

“Job creation and business growth continue to be the top priority for Senate Democrats and for Oregon families,” said Senate Majority Leader Diane Rosenbaum (D-Portland). “We are focused this interim on proposals to help Oregon’s struggling families and small business owners. When we convene in February 2012, job creation will continue to be at the top of our agenda.”

This morning, the Senate Interim Committee on General Government, Small Business, and Consumer Protection heard from business owners located in Northeast Portland and McMinnville. They spoke of how small business loans and assistance through the state can continue to help home grown businesses prosper and create jobs.

“These business owners have a firsthand perspective that is crucial to our conversations about how to revitalize our economy,” said Senator Chip Shields (D-Portland), chair of the General Government, Small Business, and Consumer Protection Committee. “We’ll be hearing from local businesses over the months leading up to the 2012 session to better understand how we can work in partnership to make it easier for them to create jobs.”

Following this morning’s testimony, the Senate Interim Committee on Business, Transportation and Economic Development will meet at 2:00 this afternoon to take testimony on several key pieces of the Senate Democrats’ successful 2011 agenda. Items included in that discussion include:

• “One stop shop” for Oregon business registry (HB 3247) – Directs the Secretary of State to create and maintain a “One Stop Shop for Oregon Business” web portal to help businesses start, expand, relocate, or operate in Oregon. Business owners will be able to update, maintain, and track progress on their registration information online through this portal.

• Streamlining industrial lands permitting to accelerate growth and create jobs (SB 766) – Establishes an expedited process for approving significant industrial development projects throughout the state. Senate Bill 766 assures that proposed industrial projects with the greatest jobs potential are able to get fast and definitive approvals for required state and local land use approvals.

• Removing barriers for Oregon’s small businesses, creating jobs (SB 494) — Removes barriers to loans and capital for Oregon’s small businesses by removing the sunset and making permanent the changes in the Access to Business Capital Act, passed by the Legislature in February 2010. This bill frees up hard-to-come-by business capital and has already helped create hundreds of jobs across Oregon.

The Committee will hear from statewide elected officials, including Secretary of State Kate Brown and State Treasurer Ted Wheeler. Brown will be on hand to discuss the the implementation of the “One Stop Shop” legislation and Wheeler will testify on the state’s work to expand access to capital for Oregon businesses.

“We passed significant legislation in the recent session that will help make it easier to do business in Oregon,” said Senator Lee Beyer (D-Springfield), chair of the Business, Transportation and Economic Development Committee. “Legislative oversight is key to making sure that our intentions are followed and that legislation is being implemented effectively and efficiently. This hearing gives us the first such opportunity to see what kind of progress we’re making.”

The Business, Transportation and Economic Development committee will meet at 2:00 PM this afternoon in Hearing Room B. The meeting can be streamed live here.

Legislative days are being held three times prior to the start of the 2012 short session. The consolidation of interim work over designated three day periods was implemented in 2009 to save taxpayer dollars and improve government efficiency while the Legislature is not in session.

End-of-session report details policy successes in a wide range of areas

SALEM – Senate Democrats released today summaries of their accomplishments for the 2011 legislative session. The issue areas span a range of topics including Helping Oregon Families, Jobs and Economic Development, Health Care, Education, Public Safety, and several other important policy areas.

“Oregon Senate Democrats faced the state’s financial challenges this session with a clear set of priorities: growing jobs, protecting our children’s future, and looking out for the most vulnerable,” said Senate Majority Leader Diane Rosenbaum (D-Portland). “In tough times, we never forgot whose side we’re on: the side of middle class Oregonians, struggling families, and our most vulnerable.”

Rosenbaum pointed to legislation like the “Cool Schools” bill, the bottle bill expansion, and the historic agreements on both legislative and congressional redistricting maps as prime examples of legislative collaboration during the session. She noted legislation to extend unemployment insurance, provide loans for small businesses, protect homeowners facing foreclosure, and funding for early childhood education as key examples of Senate Democrats’ 2011 legislative priorities.

The customary “end-of-session binder” created by the caucus office at the completion of each session can be found at this link: http://www.leg.state.or.us/senatedemocrats/2011_accomplishments.pdf

The end of session checklist, outlining caucus agenda bills can be found here: http://www.leg.state.or.us/senatedemocrats/2011_agenda_checklist.pdf

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For more information on the Senate Majority Caucus, please visit www.orsenatemajority.org