HR 1477

112th CONGRESS
1st Session

H. R. 1477

To require certain mortgagees to evaluate loans for modifications, to establish a grant program for State and local government mediation programs, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

April 12, 2011

Mr. CUMMINGS (for himself, Mr. CLARKE of Michigan, Mr. MILLER of North Carolina, Mr. GEORGE MILLER of California, Mr. CLAY, Ms. BERKLEY, Ms. ESHOO, Ms. WOOLSEY, Mr. WELCH, Ms. SPEIER, Mr. GARAMENDI, Ms. BROWN of Florida, Ms. NORTON, Mr. TIERNEY, Mr. GRIJALVA, Mr. HINCHEY, Ms. EDWARDS, Mr. HOLT, Mr. CICILLINE, Ms. MOORE, Ms. SUTTON, Ms. SCHAKOWSKY, Mr. HASTINGS of Florida, and Mr. AL GREEN of Texas) introduced the following bill; which was referred to the Committee on Financial Services


A BILL

To require certain mortgagees to evaluate loans for modifications, to establish a grant program for State and local government mediation programs, and for other purposes.

SECTION 1. SHORT TITLE.

SEC. 2. DEFINITION.

SEC. 3. LOAN MODIFICATION REQUIREMENTS.

(aa) made by a covered mortgagee; and

(bb) secured by the principal residence of the mortgagor; or

SEC. 4. MEDIATION INITIATIVES.

SEC. 5. OVERSIGHT OF PUBLIC AND PRIVATE EFFORTS TO REDUCE MORTGAGE DEFAULTS AND FORECLOSURES.

SEC. 6. HOUSING TRUST FUND.

END