STAND. COM. REP. NO. 855

                                   Honolulu, Hawaii
                                                     , 1999

                                   RE:  S.B. No. 777
                                        S.D. 2




Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Judiciary, to which was referred S.B. No.
777, S.D. 1, entitled: 

     "A BILL FOR AN ACT RELATING TO FORECLOSURES,"

begs leave to report as follows:

     The purpose of this bill is to clarify certain provisions of
the alternate power of sale foreclosure law and to effect
substantive changes to other provisions of the law by removing
certain requirements.

     Your Committee finds that this measure proposes reasonable
means to address concerns with the power of sale foreclosure
process adopted during the 1998 legislative session.  Your
Committee further finds that these proposed changes will improve
the efficiency of the power of sale foreclosure process and
thereby reduce the time and cost of foreclosures.

     Testimony in support of this measure was submitted by the
Department of Commerce and Consumer Affairs, the Community
Associations Institute Hawaii Chapter, the Hawaii Credit Union
League, the Hawaii Council of Associations of Apartment Owners,
Legal Aid Society of Hawaii, First American Long & Melone Title
Company, Ltd., Title Guaranty of Hawaii, Security Title
Corporation, the American Association of Retired Persons, Hawaii
Bankers Association, Hawaii Financial Services Association, and
four private attorneys.


 
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                                   STAND. COM. REP. NO. 855
                                   Page 2


     Upon further consideration, your Committee has amended this
measure by:

     (1)  Reinserting the provisions amending section 667-31(a),
          relating to signatories on the conveyance documents,
          which were inadvertantly deleted during the drafting of
          S.B. No. 777, S.D. 1; and

     (2)  Making technical, non-substantive changes for the
          purposes of clarity and style.

     As affirmed by the record of votes of the members of your
Committee on Judiciary that is attached to this report, your
Committee is in accord with the intent and purpose of S.B. No.
777, S.D. 1, as amended herein, and recommends that it pass Third
Reading in the form attached hereto as S.B. No. 777, S.D. 2.

                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Judiciary,



                                   ______________________________
                                   AVERY B. CHUMBLEY, Co-Chair



                                   ______________________________
                                   MATTHEW M. MATSUNAGA, Co-Chair

 
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