The Florida company tasked with managing Oregon’s foreclosure mediation program has closed.
Officials at The Collins Center for Public Policy said late last week that they don’t have the finances to keep operating. The think tank was tapped last year to run the new mediation program for Oregonians at risk of foreclosure, passed by the Legislature.
The program has been slow to catch on, with many lenders refusing to mediate and starting to move foreclosures through the courts. Only a small fraction of at-risk borrowers who applied have gotten into the program.
An Oregon Department of Justice spokesman said the state is moving ahead with a stop-gap measure. Housing officials hope to tap one of The Collins Center’s managers to keep the Oregon program running.