US Congress Senate Bill 3177 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on May 15 2012 - 25% progression, died in committee
Action: 2012-05-15 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]

Stopping Ongoing Lender Delays Act or SOLD Act - Amends the Truth in Lending Act to require each servicer of a home mortgage to respond in writing within 30 days to a mortgagor of a residential mortgage loan who hasrequested in writing a short sale of the dwelling or residential real property that is subject to the mortgage, deed of trust, or other security interest securing the mortgage loan. Authorizes an aggrieved individual to bring a civil action for damages and equitable relief for any violation of this Act. Declares this Act inapplicable to certain residential mortgages entered into before its enactment whose mortgage agreements explicitly provide a procedure or terms for a short sale approval.

SOLD Act

Sen. Dean Heller [R-NV]

Date	Chamber	Action
2012-05-15	Senate	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

SB2120 (Related) 2012-02-16 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
HB6153 (Related) 2012-10-01 - Referred to the Subcommittee on Financial Institutions and Consumer Credit.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/senate-bill/3177/all-info
Text	https://www.congress.gov/112/bills/s3177/BILLS-112s3177is.pdf