Foreclosure Rescue Fraud Act of 2009

Summary

Foreclosure Rescue Fraud Act of 2009 - Prohibits a foreclosure consultant from: (1) receiving compensation from a homeowner for services performed regarding residential real property until such consultant has fully performed each service contracted for; (2) holding power of attorney from any homeowner, except to inspect documents; (3) receiving consideration from a third party in connection with services rendered to a homeowner by such third party with respect to the foreclosure, unless such consideration is fully disclosed in writing before such services are rendered; (4) accepting any wage assignment, lien, or other security to secure compensation for services rendered regarding foreclosure of the residential real property; or (5) acquiring any interest in the residence of a homeowner with whom the consultant has contracted. Sets forth contract requirements. Permits a homeowner to cancel such contract without penalty or obligation. Declares void and unenforceable: (1) any waiver by a homeowner of the protections provided in this Act; and (2) any contract that does not comply with this Act. Requires a loan servicer to notify a homeowner of the dangers of fraudulent activities associated with foreclosure if the servicer finds that the homeowner has failed to make two consecutive payments on a residential mortgage loan and such loan is at risk of foreclosure. Subjects any foreclosure consultant who fails to comply with this Act to liability for actual and punitive damages and attorneys' fees. Empowers the Federal Trade Commission (FTC) and the states to enforce this Act.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 26 February 2009

   Introduced

   Referred to the Committee on Financial Services, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 26 February 2009

   Introduced

   Referred to House Financial Services

   Source: IntroReferral

3. 26 February 2009

   Introduced

   Introduced in House

   Source: IntroReferral

4. 26 February 2009

   Introduced

   Introduced in House

   Source: IntroReferral

5. 2 March 2009

   Referred

   Referred to the Subcommittee on Commerce, Trade and Consumer Protection.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 26 February 2009 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 26 February 2009

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 26 February 2009

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 26 February 2009

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Moore, Gwen [D-WI-4] · D · Sponsor
• Rep. Frank, Barney [D-MA-4] · D · Sponsor
• Rep. Filner, Bob [D-CA-51] · D · Cosponsor
• Rep. Schakowsky, Janice D. [D-IL-9] · D · Cosponsor
• Rep. Carson, André [D-IN-7] · D · Cosponsor
• Rep. Serrano, Jose E. [D-NY-15] · D · Cosponsor
• Rep. Sires, Albio [D-NJ-13] · D · Cosponsor
• Rep. Hodes, Paul W. [D-NH-2] · D · Cosponsor
• Rep. Kucinich, Dennis J. [D-OH-10] · D · Cosponsor
• Rep. Davis, Susan A. [D-CA-53] · D · Cosponsor
• Rep. Meeks, Gregory W. [D-NY-5] · D · Cosponsor
• · hsif00 · Standing
• · hsba00 · Standing

Related records

• related to ← A bill to protect the property and security of homeowners who are subject to foreclosure proceedings, and for other purposes.