US SB690 | 2011-2012 | 112th Congress
Status
Spectrum: Moderate Partisan Bill (Democrat 13-1-1)
Status: Introduced on March 30 2011 - 25% progression, died in committee
Action: 2011-03-30 - 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]
Status: Introduced on March 30 2011 - 25% progression, died in committee
Action: 2011-03-30 - 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]
Summary
Office of the Homeowner Advocate Act of 2011 - Establishes in the Department of the Treasury the Office of the Homeowner Advocate to assist homeowners, housing counselors, and housing lawyers in resolving problems with the Home Affordable Modification Program (HAMP) of the Making Home Affordable initiative of the Secretary of the Treasury, authorized under the Emergency Economic Stabilization Act of 2008. Prohibits any modification of a mortgage under the Making Home Affordable Program, or with any funds from the Troubled Asset Relief Program (TARP), unless the servicer of the mortgage loan has determined, in accordance with standards and requirements established by the Secretary, that the mortgagor cannot afford to make payments under the terms of the existing mortgage loan. (Thus prohibits participation in such Program for borrowers who strategically default.) Requires the Secretary to revise the guidelines for HAMP to establish that the data collected by the Secretary from each mortgage servicer and lender participating in the Program is made public at the individual record level in a specified manner.
Title
Homeowner Advocate Act of 2011
Sponsors
Sen. Al Franken [D-MN] | Sen. Richard Blumenthal [D-CT] | Sen. Sherrod Brown [D-OH] | Sen. Richard Durbin [D-IL] |
Sen. Kirsten Gillibrand [D-NY] | Sen. Frank Lautenberg [D-NJ] | Sen. Patrick Leahy [D-VT] | Sen. Robert Menendez [D-NJ] |
Sen. Jeff Merkley [D-OR] | Sen. Patty Murray [D-WA] | Sen. Jack Reed [D-RI] | Sen. John Rockefeller [D-WV] |
Sen. Bernard Sanders [I-VT] | Sen. Jeanne Shaheen [D-NH] | Sen. Olympia Snowe [R-ME] |
History
Date | Chamber | Action |
---|---|---|
2011-03-30 | Senate | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
Subjects
Administrative remedies
Congressional oversight
Department of the Treasury
Executive agency funding and structure
Government information and archives
Housing and community development
Housing finance and home ownership
Congressional oversight
Department of the Treasury
Executive agency funding and structure
Government information and archives
Housing and community development
Housing finance and home ownership
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/112th-congress/senate-bill/690/all-info |
Text | https://www.congress.gov/112/bills/s690/BILLS-112s690is.pdf |