AUGUSTA — A tie vote in the House on Monday upheld Gov. Paul LePage’s veto of a bill intended to address mortgage foreclosures in Maine.

Democrats said the measure would protect consumers from losing their homes to large mortgage companies that may not legally own them, but LePage said it would create red tape for businesses.

The 69-69 vote fell short of the two-thirds majority needed to override the Republican governor’s veto of the bill on Friday. In his message to lawmakers, LePage said the bill failed to measure up to its title, “An Act to Clarify and Streamline Foreclosure Proceedings.”

“If the title of this bill had matched the substance, then I would have happily signed it,” LePage wrote.

The national mortgage crisis has been marked by alleged foreclosure abuses such as bank employees signing papers they hadn’t read or using fake signatures to speed foreclosures. Banks have been charged with using false and misleading information to support their foreclosures.

Maine Rep. Bobbi Beavers’ bill would have required banks to present the original mortgage notes or proof of ownership before court proceedings, preventing potential fraud against homeowners.

“Telling the truth should not be a burden,” said Beavers, D-South Berwick.

LePage said Beavers’ bill sought to add safeguards that already are in Maine law. He said the bill might have lengthened the foreclosure process in Maine, which now stands at about 420 days per case, one of the longest in the nation. By comparison, the process takes about 120 days in neighboring New Hampshire, he said.

“We must keep in mind that every unnecessary delay in the foreclosure process will distort prices in our housing market,” LePage wrote.

The governor also said the bill would add excess paperwork to the process. Since taking office last year, LePage has sought every opportunity to cut what he sees as unnecessary regulation and red tape.

The Maine Bankers Association sided with LePage on the bill, saying higher administrative costs to lenders would be added to future mortgage loan interest rates.