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10 posts categorized "Mark Ferrandino"

April 30, 2008

Forecolsure Reduction Bill Passes House

Co_state_rep_mark_ferrandinoCo_state_rep_sara_gagliardiDENVER – Recognizing the growing urgency for Colorado families facing serious debt, State Representatives Sara Gagliardi (D-Arvada) and Mark Ferrandino (D-Denver) carried a bill through the House to stem the foreclosure epidemic and potentially help thousands Colorado families stay in their homes. 

“Families are suffering, neighborhoods are suffering, whole communities are suffering because of the foreclosure epidemic,” said Rep. Gagliardi.  “But with the right outreach, the right counseling, and debt reduction support, thousands of foreclosures may be avoidable.”

House Bill 1402 – which passed the House 40- 24 – would provide homeowners with more opportunities –counseling assistance and outreach efforts – to save their homes from foreclosure without providing any bailouts or government dollars.  The bill also encourages banks to make a good faith effort to find a resolution to bad debt.

Specifically, the bill establishes and finances a meaningful outreach and education program, to provide at-risk borrowers in at-risk communities important information about the Colorado Foreclosure Hotline and other debt counseling services.     

Continue reading "Forecolsure Reduction Bill Passes House" »

April 14, 2008

Major Foreclosure Bill Unveiled

Lawmakers Propose The American Dream Protection Act of 2008

Mark_ferrandinoSara_gagliardi(DENVER) Legislators and supporters gathered in a middle-class west Denver neighborhood today to announce a plan to provide deserving homeowners with more opportunities to save their homes from foreclosure -- without government bailouts.

Representatives Mark Ferrandino (D-Denver) and Sara Gagliardi (D-JeffCo) stood in the midst of a neighborhood hard-hit by foreclosure to unveil the American Dream Protection Act of 2008.

“Foreclosures are skyrocketing and people are losing their homes. The American Dream is at risk in Colorado,” said Rep. Gagliardi.  “Abandoned houses litter neighborhoods all over the state.  Some people lose their homes because they were misled by greedy banks; some, because of bad luck. And some homeowners are losing their houses because they made poor choices.” 

“But most people take personal responsibility and work tirelessly to save their homes and prevent foreclosure.  We need to help hard-working, responsible Coloradans save their homes and protect their American Dream, without a government bailout.  That’s why, this week, we are introducing legislation that will make foreclosure the option of last resort – for mortgage lenders and homeowners,” Rep. Gagliardi announced.

The American Dream Protection Act of 2008 provides homeowners with more opportunities – time, communication, and counseling assistance – to save their homes from foreclosure without providing any bailouts or government dollars.         

       The bill does two things:

  • Empowers a judge to grant a ninety-day Foreclosure Temporary Time-Out to borrowers if the bank has not demonstrated a good faith effort to negotiate, and if the homeowner has demonstrated a commitment to saving their house.
  • It places new notification requirements on mortgage lenders before they foreclose. Lenders need to make their best efforts to contact people who fall behind in payments to tell them about mortgage counseling assistance that could help them save their homes.  It also directs the banks to make a good faith effort to find a resolution. 

-- Posted by staff

February 25, 2008

House Checks Predatory Lenders

Co_state_rep_mark_ferrandinoDENVER – After a second day of intensive debate on the House floor, a bill curbing predatory payday lending passed the House by a final vote of 33 to 30.  House Bill 1310, sponsored by State Representative Mark Ferrandino (D-Denver) now goes to the Senate for further consideration.

“I’m proud the House passed this important bill,” said Rep. Ferrandino.  “I look forward to continuing work with Senate President Groff and others to stop predatory payday lenders from exploiting working Coloradans.”

House Bill 1310, known as the Colorado Payday Lending Reform Act caps annual interest rates at 45% and allows lenders to charge no more than a one-time $60 finance fee per 12 months on all payday loans.

-- Posted by staff

Continue reading "House Checks Predatory Lenders" »

February 23, 2008

House Votes to Curb Predatory Lending

Bill helps working Coloradans escape cycle of debt

Mark_ferrandinoDENVER – Despite intensive lobbying from the industry, a bill sponsored by State Representative Mark Ferrandino (D-Denver), placing an important limitation on predatory payday lenders, passed the House on a close voice vote today.   

“Today we are one step closer to helping working Coloradans escape a crippling cycle of debt, ” said an elated Ferrandino.  “We cannot let this predatory industry continue preying on people living paycheck to paycheck.  I'm thrilled this bill passed.”

House Bill 1310, known as the Colorado Payday Lending Reform Act would make short-term – or payday – loans more affordable and easier to pay back.     The bill caps annual interest rates at 45% and allows lenders to charge no more than a one-time $60 finance fee per 12 months on all payday loans. 

HB 1310 awaits final approval by the House before moving to the Senate.

-- Posted by staff

February 20, 2008

Democrats Respond to High Foreclosure Rates

The priority is to keep families in their homes; several community forums planned to prevent foreclosures

Capitol(Denver) According to a report released today by the Colorado Division of Housing, foreclosures increased 40 percent in Colorado from 2006 to 2007.  The good news is that the state has a successful foreclosure hotline (1-877-601-HOPE) in place and over 6,300 families have been assisted.  Because of the hotline, at least 20 percent more families have been rescued from loosing their homes.

In other good news, the state should find out shortly if relief is in sight to help sort out loans and to create public service announcements for others to learn about services available.  In response to the high rates, the state recently submitted a request for over 2 million dollars in funding from the federal government to assist with the foreclosure hotline and HUD counselors across the state.

“We passed a comprehensive package of laws to address mortgage fraud and help families stay in their homes and prevent the housing crisis in the future. Simply put, there are still a lot of bad loans out there that can result in foreclosure before these laws go into effect,” State Representative Rosemary Marshall (D-Denver) explained.

The Governor mentioned the successful legislation tackling rise in foreclosures in his State of the State address, applauding Colorado’s leadership on the issue and citing several states that have modeled legislation after Colorado.

Continue reading "Democrats Respond to High Foreclosure Rates " »

February 18, 2008

Lawmakers Put Screws To Predatory Payday Lenders

Bill helping working Coloradans avoid debt passes House committee

Co_state_rep_mark_ferrandinoDENVER –State Representative Mark Ferrandino (D-Denver) ushered an important consumer-rights bill through a packed and at times emotional House Business Affairs & Labor Committee today.  The bill, which passed committee by a vote of 6 to 5, puts an important limitation on predatory payday lenders.  House Bill 1310, known as the Colorado Payday Lending Reform Act would make short-term – or payday – loans more affordable and easier to pay back.    

“This legislation closes a loophole that allows lenders to charge interest rates as high as 350 percent,” said Rep. Ferrandino.  “Most short-term loan customers already struggle to make ends meat.  The payday loan industry traps folks who are already vulnerable in an impossible debt crisis.  This legislation will help all payday loan customers break the cycle and keep their heads above water.”

Payday loans are short-term (usually one pay period) and made for a small amount ($300-$500).  House Bill 1310 caps annual interest rates at 45% for all payday loans.  It also changes current practice on finance charges: the proposed legislation allows lenders to charge a maximum finance fee of $60 one time per twelve months. 

After an interest rate cap regulating the industry was abolished in 2000, statistics have spiraled: since 2003, payday loan volume in Colorado has increased 117 percent.  Based on average APR, payday loan customers will pay $544 in finance fees on an average $343 loan.  And more than 70% of short-term loans went to borrowers with 11 or more loans in the last full year.  Excessive fees on payday loans are estimated to cost Colorado working families more than $76 million annually.

“Short term loans serve a valuable function as a stop-gap,” said Rep. Ferrandino.  “Unfortunately, the industry is out of control and people are reeling.  Unless we act, the situation will continue spiraling out of control.

HB 1310 moves to the House floor for further debate in the coming days.

-- Posted by staff

Upcoming Opportunities to Meet with your Representative

WEDNESDAY FEBRUARY 20th

Rep. Dianne Primavera (D-Broomfield) and Senator Brandon Shaffer (D-Longmont) will be hosting a discussion on Aging Baby Boomers and Long-term Health Care Options Wednesday, February 20th 6:00-7:30 PM at the Erie Public Library. Click here for more details.

Join Rep. Mark Ferrandino (D-West Denver) for a panel discussion on foreclosure counseling and prevention Wednesday, February 20, 2008, 6:00 pm-7:30 pm. More details here.

THURSDAY FEBRUARY 21st

Meetings with Morgan, hosted by Rep. Morgan Carroll (D-Aurora) February 21, 2007, 7:00 - 8:30 P.M., Community College of Aurora Topic: Transportation. Meetings are held the 3rd Thursday Every Month Unless Holiday. Sign up for her newsletter here.

FRIDAY FEBRUARY 22nd

Representative Mary Hodge (D-Adams) Senator Takis (D-Adams County) Friday, February 22nd, 7:00-8:30 AM Firestation #2 3100 Peoria St, Aurora

SATURDAY FEBRUARY 23

Rep. Anne McGihon (D-Denver) invites constituents to join her for a “Coffee Chat” Saturday, Feb 23, 9:00-10:00 AM, at Mile High Coffee in Englewood. More information here.

Rep. Jeanne Labuda (D-Denver) will host a town hall meeting Feb. 23rd at the Bear Valley Library from 1-3pm. The topic will be the upcoming elections. More information here.

Did you know the Denver-Metro area was ranked No. 9 in Foreclosures in 2007? Rep. Judy Solano (D-Thornton) invites you to join her for a town hall meeting on the topic of foreclosure prevention and counseling. February 23, 2008 from 10:00 AM-12:00 noon in Thornton. For more details click here. Rep. Dianne Primavera will host a town hall meeting on foreclosures in Broomfield on March 19th and Rep. Sara Gagliardi will host one in Arvada on March 1st.    

State Rep. Randy Fischer and State Rep. John Kefalas will host their monthly forum on Looking Forward-what kind of state do you want Colorado to be? Coloradoan Community Room, 1300 Riverside Ave, Fort Collins on Saturday, February 23rd 9:30-11:30 AM. The monthly forums are hosted on the fourth Saturday of each month. The next Community Forum will be held Saturday, March 22nd. Join Rep. Kefalas’ newsletter or Rep. Fischer’s newsletter for details on upcoming events.

LOOKING AHEAD

Rep. Sara Gagliardi (D-Arvada) has several upcoming events February 25th, March 1st and Match 10th. For more information and to sign up for her newsletter, click here.

-- Posted by staff

January 24, 2008

House Panel Approves Liquor Sales at Art Galleries

State Rep. calls for easing of restrictions to allow “First Friday” neighborhood events

Co_state_rep_jerry_frangasDENVER – Inspired by the successful Tennyson Street “First Friday” events, Rep. Jerry Frangas (D-Denver) is proposing an exception to the state’s liquor laws so that an art gallery may serve wine at art openings and other events. His bill, co-sponsored by other Denver Democratic Representatives Joel Judd and Mark Ferrandino, passed out of the House Business Affairs and Labor Committee on Thursday afternoon on a unanimous (11-0) vote.

“The offer of wine in a paper cup can help entice people to visit the galleries that they’ve never been into before,” said Rep. Frangas. “These events bring the community together in appreciation of the arts.  And importantly, this is a pro-business bill that takes only a minor adjustment in the law.”

House Bill 1105 grants a short-term liquor permit to art galleries to serve liquor on their premises for no more than 4 hours a day, no more than 15 days a year.

-- Posted by staff

January 09, 2008

Speaker Romanoff’s Opening Remarks Kick Off the 2008 Legislative Session

Co_state_rep_andrew_romanoff_5 Let me begin by congratulating our newest members, Representatives Mark Ferrandino and Christine Scanlan. We look forward to serving with each of you.

I would also like you to welcome my mother to the chamber.

Thank you for allowing me to share some thoughts with you on this occasion. This is the fifth year I’ve had the privilege – it’s also the last.

Representatives Borodkin, Garcia, Hodge, Jahn, Madden, Marshall, Stafford, White and I came in together – and we’re going out together. Congratulations to each of you.

Today I want to tell you a story. It’s not a story with a lot of characters in it. We’re going to have plenty of those stories in the months ahead. We’ll be talking about the 12,000 students who drop out of Colorado’s high schools each year, the 107,000 Coloradans who don’t have jobs, the 792,000 who don’t have health insurance.

This morning I want to focus on just one person. A child, to be specific. A baby.

Some 70,000 babies will be born in Colorado in 2008 – enough to populate a House district.

This little fellow was one of the first to arrive. His name is Wyatt James Sheets. He was born on New Year’s Day, at Valley View Hospital in Glenwood Springs. He weighed in at 6 pounds and measured 18½ inches long.

Wyatt showed up four weeks ahead of schedule. His parents live in Colorado Springs, but they spent the holidays on the Western Slope. Wyatt’s mother began having contractions during a New Year’s Day service at the Rocky Mountain Baptist Church in Rifle, where her father-in-law is a pastor. I think Wyatt was just in a hurry to make good on his father’s wish – that he become a NASCAR driver (His dad wanted to name him Dale, as in Earnhardt, but he lost that argument.)

Wyatt’s father, James, is an Army mechanic at Fort Carson. He served two tours of duty in Iraq, where he drove a tank with the 3rd Armored Cavalry Regiment. Wyatt’s mother, Alicea, directed an after-school program and takes care of their three daughters. Wyatt’s sisters helped decorate his room and pick out his crib. His oldest sister, Ashley, even said she thought it was “cool to have a little brother.”

James and Alicea want what all parents want – a better quality of life for their children. They want Wyatt to get the best education in the world. They want a doctor or a nurse to care for him when he gets sick and to help make sure that he stays healthy. They want Wyatt to live a happy and rewarding life.

James and Alicea have high expectations for their son – and for the state in which they plan to raise him. But for Wyatt to fulfill his potential, we have to fulfill ours.

Wyatt’s well-being will depend on the decisions that James and Alicea make in the months and years ahead. In the long run, his success will hinge on the decisions that he makes for himself.

But the quality of Wyatt’s life will also rest on the decisions that we make here, in this chamber, this year. We’re not his parents; nobody can take their place. But we can make it easier for James and Alicea to prosper and for Wyatt to thrive. That’s what I want to talk about this morning.

Let’s fast forward a few years. It’s 2011 or 2012, and Wyatt is old enough to start preschool. Whether he does is a choice his parents will have to make. But right now, you and I have a choice to make as well. Let’s make the right choice. Let’s say yes to high-quality preschool and full-day kindergarten.

Early childhood education is one of the single most effective investments we can make. Let’s help more parents like James and Alicea give their children a smart start on school.

By 2014, Wyatt will be old enough to start first grade. Most of the teachers he’ll have then have already been hired or are being recruited right now.

We need to do a better job of training, retaining and rewarding high-skilled teachers, especially those who agree to work in the schools, with the students, and in the subjects that present the greatest challenges.

Let’s equip our teachers with the tools they need – the time, the training, the technology – to give Wyatt a world-class education. Let’s put a top-flight teacher in his classroom, and in every classroom.

Of course, even the best teacher in the world will find it tough to teach in a school that’s falling down. Wyatt deserves a learning environment that is safe and healthy and educationally enriching – not a building where the roof is caving in or the floorboards are so rotten that they can’t even hold up his desk. Yet students are going to back to school this week in buildings just like that, especially in rural Colorado – in the San Luis Valley and the Arkansas Valley and the Eastern Plains.

That is fundamentally unacceptable in a state as affluent as ours. Dozens of factors will affect Wyatt’s ability to get a good education, but his zip code shouldn’t be one of them.

It’s time for the BEST plan – to Build Excellent Schools Today, schools designed not for the 19th century or the 20th century but for Wyatt’s century, the 21st century. This plan will allow us to meet our schools’ most critical health and safety needs. I want to thank Treasurer Kennedy for helping us identify nearly $1 billion in state and local resources. This will be the most significant investment in school construction since statehood.

It’s a little too soon to ask Wyatt what he wants to be when he grows up. But here’s one thing we do know: What he earns will depend on what he learns.

The workforce Wyatt enters 20 or 25 years from now will face stiff competition not just from other states but from other countries, too. We should prepare Wyatt to meet the demands of a global economy. He’ll need more than a high-school diploma. He’ll need some form of higher education – whether that means vocational training or an advanced degree.

Let’s keep the cost of college within his reach. Wyatt and his classmates should be able to get a good education even if their parents aren’t very well off. In our country, where you come from shouldn’t dictate where you end up. 

Wyatt may be a long way from joining the workforce, but there are some steps we can take right now to strengthen the economy that awaits him. First, we should continue to invest in our infrastructure. Wyatt shouldn’t have to spend all of his money fixing the roads and bridges that you and I neglected.

Second, we should support homegrown industries like aerospace, bioscience and renewable energy – industries in which Colorado is already gaining a competitive edge.

We should make sure there are plenty of good jobs for Wyatt to choose from – whether he farms wind or wheat, pilots a jet or peers into a microscope. 

Third, we should simplify our tax code, so that Wyatt’s employer doesn’t have to hire an army of accountants just to do business here. And as for our smallest employers – the 45,000 entrepreneurs who form the backbone of Colorado’s economy – we should spare them the burden of the business personal property tax once and for all.

There’s one other step we should take to shore up Wyatt’s financial future – and that is to save for a downturn. Even in a state as sunny as Colorado, a rainy-day fund makes good sense.

We’ve talked about helping Wyatt get a smart start, a top-flight teacher, and a safe place to go to school. We’ve talked about his prospects for college and for work. But more than anything else, what will enable Wyatt to live a long and productive life – the top priority of every parent – is his health.

If Wyatt had been born in 1908, he would have been lucky to live past the age of 50. That was the average life expectancy in America a hundred years ago. Babies born in the United States today can expect to live 78 years or more. Wyatt’s parents hope that he’ll live to see the 22nd century.

Wyatt is lucky to have been born in the most prosperous nation on the face of the earth. America’s medical facilities and services are among the finest in the world. What we need to figure out, as a state and as a nation, is how to make those services available to Wyatt and his parents, at a price they can afford – and how to help them stay healthy enough to avoid having to go to a hospital in the first place.

Those are some of the questions we’re going to answer over the next four months. But there are several steps we should take right now.

First, we should cut the cost of health care. Administrative expenses eat up as much as a quarter of every health-care dollar.

We can get a much bigger bang for our buck. We can save more than $100 million just by standardizing ID cards and claim forms, streamlining the processes we use to verify eligibility and credential providers, and simplifying procedures for prior authorization and appeals.

When Wyatt was born, his condition, his progress and his test results were all recorded on paper. Valley View Hospital is still developing an electronic information system. We can save money and reduce the risk of medical errors – without compromising Wyatt’s privacy – by bringing more of our hospitals into the 21st century.

Second, we should reduce the ranks of the uninsured. Wyatt’s family has health insurance. But one out of every six people in this state doesn’t. The average family in Colorado will spend $1,000 this year treating the uninsured. 

Here’s one point I hope we can agree on – every child should have health coverage. Children without insurance are 10 times more likely to miss out on the immunizations and check-ups they need to stay healthy. Uninsured children are more likely to get sick. They are more likely to stay sick. And they are more likely to die. Let’s end this debate and cover our kids.

Third, we should put a premium on prevention. The emergency room ought to be a last resort, not a primary source of care. We should give Wyatt and his parents every incentive to stay healthy – and to exercise personal responsibility. Let’s reduce their premiums if they curb their cholesterol, lower their blood pressure, or quit smoking. Let’s minimize their co-payments for preventive care and chronic-care management. Let’s encourage them to take advantage of health and wellness programs.

The last – and in some ways, the most important – step we can take to improve Wyatt’s health is to protect his environment. The more we contaminate Colorado – the more we foul our air and pollute our water – the more we diminish Wyatt’s quality of life.

We can do better. We can restore the health of our forests and replenish our rivers. We can help our ranchers and farmers hold on to their lands for future generations. And – this is key – we can find new and more efficient ways to heat our homes, fuel our cars, and power our economy.

Greenhouse gases pose the most serious threat to Wyatt’s environment. If we don’t acknowledge and attack the causes of global warming – if we don’t become, in Governor Ritter’s words, more “stubborn stewards” of this fragile planet – we will jeopardize Wyatt’s chances of surviving on it.

Now some folks will try to trick James and Alicea into believing that they have to choose between a high standard of living for themselves or for their son. That’s a false choice. When it comes to energy, James and Alicea do have choices to make – and so do we. But these choices won’t enslave Wyatt’s family or bankrupt their budget. In fact, our new energy economy is already creating thousands of new jobs.

We don’t have to savage the economy in order to salvage the environment. Quite the opposite: we can sustain both.

For James and Alicea, that means conserving more energy. It may even mean generating their own.

For us, it means providing rebates, loans and credit for those who produce renewable energy, and removing the barriers that stand in their way.

For Wyatt, it will mean a cleaner, greener place to call home.

In the end, what James and Alicea want – what Wyatt deserves – is a shot at the American Dream: the chance to enjoy a solid education, a steady job, a safe and healthy place to live and grow up. That’s not too much for them to expect, and it’s not too much for us to deliver.

There may be some distant corner of the earth where it is considered acceptable for children to languish without those opportunities. There have certainly been such times in our nation’s history. But not here, not now, not in the 21st century.

By the time Wyatt reaches the ripe old age of 42, this century will be half-over, or half-begun. Colorado will be home to nine million people – four-and-a-half times as many as there were when I was born, 42 years ago.

What will become of Wyatt, of James and Alicea, and of all the people lucky enough to live here in the year 2050? That’s mostly up to them. But for the next 120 days, it’s also up to us. Let’s get started.

Sincerely,

Andrew Romanoff

Speaker of the House

-- Posted by Staff

January 06, 2008

House Speaker Announces New Committee Assignments for 2008 Legislative Session

Capitol_line_drawing DENVER -- House Speaker Andrew Romanoff today announced committee changes for the 2008 legislative session, including assignments for the majority party’s three newest members: Reps. Mark Ferrandino (D-Denver), Christine Scanlan (D-Silverthorne), and Debbie Stafford (D-Aurora).

Rep. Ferrandino, who replaced former Rep. Mike Cerbo, will serve on the Business Affairs and Labor Committee and the State, Veterans and Military Affairs Committee.

Rep. Scanlan, who replaced Sen. Dan Gibbs, will serve on the Agriculture, Livestock and Natural Resources Committee and the Transportation and Energy Committee.

Rep. Stafford, who joined the Democrats in November, will replace Rep. Morgan Carroll (D-Aurora) as vice chair of the Judiciary Committee.  (Rep. Carroll was elected chair of the House Majority Caucus). Rep. Stafford will also retain her seat on the Health and Human Services Committee.

Rep. Gwyn Green (D-Golden) will replace Sen. Gibbs as vice chair of the Transportation and Energy Committee.

Rep. Cheri Jahn (D-Wheat Ridge) will join the Judiciary Committee, replacing former Rep. Cerbo.

The General Assembly will convene this Wednesday, January 9, and Speaker Romanoff said, “Our new team is ready to hit the ground running.”  He singled out vice-chairs Green and Stafford as “strong leaders who bring a wealth of experience to their new roles.”

Rep. Green’s district encompasses west Lakewood and Golden, including the headquarters of the National Renewable Energy Laboratory.  “My constituents have a keen interest in transportation,” Rep. Green said. “I am especially excited to help make Colorado the renewable energy capital of the world.”

Rep. Stafford, who is serving her fourth term in the legislature, has worked on juvenile justice issues for many years.  “We need to reduce the number of repeat offenders,” Rep. Stafford said.  “To me, it’s all about prevention and early intervention.”

Speaker Romanoff also praised the two newest members of the House, Reps. Ferrandino and Scanlan, as “extraordinarily promising lawmakers.”  Rep. Ferrandino said he was eager to advance consumer protection and insurance reform.  Rep. Scanlan, whose district spans Eagle, Lake and Summit counties, said she would use her assignments to spotlight the bark beetle infestation, I-70 congestion, and other local and statewide concerns.

--Posted by Staff

  • "This was a great year to be a kid in Colorado. We did more good for more children in more need than at any other point in modern memory." - House Speaker Andrew Romanoff