The St. Louis County Council approved additional changes to an ordinance that requires lenders to offer mediation to homeowners on the edge of foreclosure.
The tweaks to the ordinance include removing the right for homeowners to sue lenders after they’ve gone through mediation, and they come in the shadow of an ongoing legal battle with lenders over whether the county even has the authority to enforce the ordinance.
Councilwoman Hazel Erby first introduced the mediation plan and is confident in the county’s case.
St. Louis County has new accountants auditing its financial records and they want changes to how officials track extra cash left in bank accounts at the end of the fiscal year.
The county’s Chief Operating Officer Garry Earls says in the past they would consider the leftover money as revenue, but the audit recommends it now be accounted for as an asset.
“There’s a reason accountants have the reputation that they do,” Earls says. “This is a perfectionism of the system, and I’d tell you outright that it is an asset of the county so we might as well count it as an asset.”