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Mortgage review motion aims to examine surveyors, courts role in foreclosure

On the heels of a community meeting Tuesday night (24 April), George Town Central MLA Kenneth Bryan took his push for mortgage reform to the airwaves.

This morning on our sister station Rooster 101’s popular morning radio show ‘Cayman Crosstalk.’ On the show, Mr. Bryan elaborated on a motion he plans to bring to the LA chamber calling for a committee to investigate the mortgage loan process, and recommend legislative change.

He told Cayman 27 petitioning the motion will send a message to his colleagues that it’s an issue not to ignore.

“We don’t have a large population here, so when you have 100 people being foreclosed on in one year with a population of 60 [thousand],” explained Mr. Bryan. “If you equivalate that to a population like the United States, tell me if you think it’s a crisis then. Proportionality and ratio wise, it is a crisis, it is a problem.”

Mr. Bryan said his motion aims to consider the need for an independent body to regulate valuation surveyors, and the role the courts play in foreclosures, among other issues.

About the author

Joe Avary

Joe Avary

Joe Avary has been with Cayman 27 since 2014. He brings 20 years in television experience to the job, working hard every day to bring the people of Cayman stories that inform the public and make a difference in the community. Joe hopes his love for the Cayman Islands shines through in his informative and entertaining weather reports. If you have a story idea for Joe or just want to say hello, call him at 324-2141 or send an email to josephavary@hurleysmedia.ky

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