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United States · Bill · HR

H.R. 7049 (117th)

Mortgage Borrower Protection Act of 2022

referredUnited States· United States Congress· EN

Introduced

9 March 2022

Last action

Status

Referred to the House Committee on Financial Services.

Sponsors

Subjects

Discovery layer

Source updated

3 January 2025

Summary

Mortgage Borrower Protection Act of 2022 This bill requires an entity extending a Property Assessed Clean Energy (PACE) financing agreement to receive written consent from each owner of any residential mortgage loan or other recorded lien on the property before extending such financing to the dwelling owner. (PACE financing is used to cover the costs of home improvements such as energy-efficient improvements. The subsequent lien is tied to the specific property in the form of a tax assessment.) Consent is not required if the PACE financing does not have priority over the mortgage loan or lien.

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Documents

3 official files

Introduced in House (text)

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