National Homeowners Bill of Rights Act of 2017
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jun 22, 2017)
National Homeowners Bill of Rights Act of 2017
This bill requires servicers of federally related mortgage loans to (1) establish for each borrower's account a single electronic record accessible throughout the servicer and available to all relevant staff; (2) maintain a website where borrowers may check their estimated net present value; and (3) provide free interpretation services to borrowers.
The bill also (1) establishes a loan-modification process to reduce the payments of eligible borrowers, (2) directs the Consumer Financial Protection Bureau to appoint a Mortgage Servicer Ombudsman, and (3) establishes certain limits on foreclosure sales.
What just happenedJun 22, 2017
Referred to the House Committee on Financial Services.
Who’s behind it
- Introduced in HouseJun 22, 2017
- Jun 22, 2017IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - Jun 22, 2017IntroReferralB00100
Sponsor introductory remarks on measure. (CR H5096)
- Jun 22, 2017IntroReferralIntro-H
Introduced in House
- Jun 22, 2017IntroReferral1000
Introduced in House