Two major pieces of legislation impacting Colorado lenders and mortgage servicers were passed in the 2006 session of the Colorado General Assembly. Although the two pieces of legislation originated in separate houses, they were joint efforts to address the increasing foreclosures in Colorado leading to Real Estate Owned (REO) properties by lenders and activities by opportunists looking at making a quick buck at the expense of the home owner. The first bill to be introduced was Senate Bill 71 sponsored by Senator Vega and strongly supported by the Colorado Attorney General. This bill was aimed at defining specific roles which investors and assistance agencies may play in assisting borrowers facing foreclosure and detailing rules that must be followed in order to avoid criminal prosecution. The second bill, House Bill 1387, originated out of the House and was sponsored by Representative Michael Garcia, a long time supporter of foreclosure statute reform in Colorado. House Bill 1387 is a full re-write of the Colorado foreclosure statutes addressing new procedures and organization of the foreclosure process as a continued effort by the Colorado Public Trustees Association to bring Colorado procedures in line with the times. Robert J. Hopp as a member of the Colorado Bar Real Estate Section and a guest of the Colorado Public Trustee Association, legislative committee, participated as a key drafter of this legislation for the Colorado Public Trustees and the Colorado Bar Associations.