Governor Rendell Signs Bills to Protect Homeowners From Mortgage Fraud

HARRISBURG, Pa., June 29 /PRNewswire-USNewswire/ -- Governor Edward G. Rendell
today signed a pair of bills to combat mortgage fraud by strengthening
communication between homeowners and their lenders and encouraging employees
at mortgage companies to report illegal activity.

"These bills will provide increased protection for Pennsylvania consumers
shopping for a mortgage or refinancing their homes," said Governor Rendell.
"They represent a critical step forward in our strategy to combat mortgage
lending fraud and abuse in Pennsylvania."

The first law, Senate Bill 170 (Sen. Mike Brubaker), will prohibit a mortgage
broker or originator from being the sole recipient of communications from
lenders. This will help ensure that consumers receive monthly statements and
other notices intended for them by their lenders.

The second measure, House Bill 985 (Rep. David Kessler), will shield mortgage
company employees who report illegal activity or take part in an investigation
from retaliation through reduced salaries, termination or other actions taken
by their employer.

"I commend Representative Kessler and Senator Brubaker for introducing and
pressing for quick enactment of these important bills," said Governor Rendell.
"With their help, we have accomplished a lot in the past few years to require
much greater oversight and protections for Pennsylvania's homeowners.

"Securing a home mortgage is the largest, most significant financial
responsibility most people will ever take on. With the enactment of these
bills, we continue our efforts to help more Pennsylvanians secure their part
of the American dream," he added.

Both bills take effect in 60 days.

Also, Governor Rendell privately signed four other bills:

-- House Bill 370 (Rep. Hickernell), which designates the reconstructed
bridge spanning Shawnee Run on State Route 462 in the Borough of
Columbia, Lancaster County, as the Herbert "Cubby" Spiese
Bridge.

-- House Bill 718 (Rep. Melio), which extends until June 30, 2014, a
one-dollar monthly surcharge on cellular telephones to support 911
services.

-- House Bill 988 (Rep. Longietti), which names the bridge carrying
Walnut
Street over the Shenango River in the Borough of Sharpsville, Mercer
County, as the Sgt. David W. Wallace III "Walleye" Memorial
Bridge.

-- House Bill 1342 (Rep. Stevenson), which allows for an additional year
of
sales of non-fire safe cigarettes that are in current inventory.

To view the text of legislation, visit the General Assembly on the Web at
www.legis.state.pa.us. For more information about Governor Rendell and his
administration, visit www.pa.gov.

The Rendell administration is committed to creating a first-rate public
education system, protecting our most vulnerable citizens and continuing
economic investment to support our communities and businesses.To find out more
about Governor Rendell's initiatives and to sign up for his newsletter, visit
his Web site at: www.governor.state.pa.us.

CONTACT:
Mia DeVane
717-783-1116

Ed Novak (Banking)
717-783-4721

SOURCE Pennsylvania Office of the Governor

Mia DeVane of the Pennsylvania Office of the Governor, +1-717-783-1116; or Ed
Novak (Banking), +1-717-783-4721