Colorado Supreme Court lets foreclosure initiative advance

by Heather Draper, Biz Journals
Monday, July 16th, 2012

The Colorado Supreme Court has ruled that the proponents of Initiative 84, a proposed state constitutional amendment regarding foreclosure documentation, can move ahead with the amendment.

In a June 14 ruling, the Supreme Court affirmed the state title board’s decision that the initiative could move forward, despite challenges from two of the state’s largest banking groups.

The Colorado Bankers Association  and the Independent Bankers of Colorado both oppose the initiative, saying it would hurt community banks and the mortgage market in the state.