US Congress House Bill 6395 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on September 13 2012 - 25% progression, died in committee
Action: 2012-10-01 - Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Pending: House Subcommittee on Financial Institutions and Consumer Credit Committee
Text: Latest bill text (Introduced) [PDF]

Foreclosure Accountability and Transparency Act - Prohibits commencement of a foreclosure action with respect to a federally related residential mortgage loan secured by a first or subordinate lien unless the person commencing the foreclosure complies with specified requirements pertaining to borrower: (1) notification, (2) assistance obtained from a Department of Housing and Urban Development (HUD)-approved housing counseling agency, and (3) application for loan modification or commencement of an alternative to foreclosure. Makes a violation of this Act a bar to a foreclosure action. Requires the person who commenced a foreclosure action, at the completion of such action, to certify that all federal, state, and local laws and regulations were followed and submit all applicable documentation in connection with such action to: (1) the borrower who was a party to the foreclosure action, (2) the recorder's office in the muncipality where the property securing the loan in connection with the covered residential mortgage is located, and (3) the Secretary of HUD.

Foreclosure Accountability and Transparency Act

Rep. Joe Baca [D-CA]

Date	Chamber	Action
2012-10-01	House	Referred to the Subcommittee on Financial Institutions and Consumer Credit.
2012-10-01	House	Referred to the Subcommittee on Insurance, Housing and Community Opportunity.
2012-09-13	House	Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/6395/all-info
Text	https://www.congress.gov/112/bills/hr6395/BILLS-112hr6395ih.pdf