Mandatory Foreclosure Mediation Act

Summary

Mandatory Foreclosure Mediation Act - Prohibits a servicer from initiating a foreclosure action against a borrower unless the servicer has: (1) made a reasonable effort to initiate mediation proceedings to determine if the borrower is eligible for a loan modification or an alternative to foreclosure; and (2) offered the borrower, if eligible, such a modification or alternative. Requires a servicer to suspend a foreclosure action initiated before the enactment of this Act until the servicer: (1) completes such a mediation proceeding; and (2) offers the borrower, if eligible, a modification or alternative. Prohibits a servicer, during the suspension period, from: (1) sending the borrower a notice of foreclosure, (2) conducting or scheduling a sale of the real property securing the mortgage, or (3) causing final judgment to be entered against the borrower. Directs the Secretary of Housing and Urban Development (HUD) to establish such a mediation process. Declares that a servicer is not required to suspend a foreclosure action if the servicer makes a reasonable effort to schedule a mediation proceeding and documents that the borrower has not agreed to one. Makes a violation of this Act a bar to a foreclosure action. Allows a servicer in compliance with this Act, however, to bring or proceed with a foreclosure action, regardless of any prior violation.

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

Timeline

1. 7 December 2011

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 7 December 2011

   Introduced

   Introduced in House

   Source: IntroReferral

3. 7 December 2011

   Introduced

   Introduced in House

   Source: IntroReferral

4. 12 January 2012

   Referred

   Referred to the Subcommittee on Insurance, Housing and Community Opportunity.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 7 December 2011 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 7 December 2011

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 7 December 2011

  ViewDownloadOpen at official source

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  Vertaal document

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• Introduced in House

  summary · EN · 7 December 2011

  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. Wilson, Frederica S. [D-FL-24] · D · Sponsor
• Rep. Blumenauer, Earl [D-OR-3] · D · Cosponsor
• Rep. Wasserman Schultz, Debbie [D-FL-25] · D · Cosponsor
• · hsba00 · Standing

Related records

• related to ← Regulation of Mortgage Servicing Act of 2012
• related to ← Regulation of Mortgage Servicing Act of 2011