LePage vetoes bill to regulate foreclosure documents | The Portland Press Herald / Maine Sunday Telegram

LePage vetoes bill to regulate foreclosure documents | The Portland Press Herald / Maine Sunday Telegram.

By Susan M. Cover scover@mainetoday.com
State House Bureau

 AUGUSTA — Gov. Paul LePage today vetoed a bill that sought to streamline foreclosure proceedings.

The bill, LD 145, was sponsored by Rep. Roberta Beavers, D-South Berwick.

In his veto letter, LePage said the bill “would add a new burden on our lenders to produce original copies of documents or swear under penalty of perjury why they are not able to.”

“This would simply create more paperwork in the foreclosure process with little benefit for Maine people,” he wrote.

Beavers, who spent a year and a half working on the bill, said it would require financial institutions to produce documents up front, which would save time. The bill passed the Senate 32-2 and the House 90-54.

“I feel he gave in to the big banks that caused the financial meltdown of 2008 instead of supporting the people of Maine and helping them stay in their homes,” she said.

This is LePage’s 16th veto of the two-year legislative session. It will appear on the House calendar next week for consideration. The Legislature has never overridden a LePage veto.

Gov. LePage’s veto letter (pdf)

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