H.R. 3595 (112th): Mandatory Foreclosure Mediation Act

Introduced:
Dec 07, 2011 (112th Congress, 2011–2013)
Sponsor:
Rep. Frederica Wilson [D-FL17]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on December 7, 2011, in a previous session of Congress, but was not enacted.

Progress
Introduced Dec 07, 2011
Referred to Committee Dec 07, 2011
Cosponsors
2 cosponsors (2D) (show)
Committees

House Financial Services

The committee chair determines whether a bill will move past the committee stage.

Full Title

To establish a mandatory mediation process for servicers of residential mortgages and borrowers.

Summary

No summaries available.

Text

Read Bill Text »

Last updated Dec 07, 2011.
6 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

12/7/2011--Introduced.
Mandatory Foreclosure Mediation Act - Prohibits a servicer from initiating a foreclosure action against a borrower unless the servicer has:
(1) made a reasonable effort to initiate mediation proceedings to determine if the borrower is eligible for a loan modification or an alternative to foreclosure; and
(2) offered the borrower, if eligible, such a modification or alternative.
Requires a servicer to suspend a foreclosure action initiated before the enactment of this Act until the servicer:
(1) completes such a mediation proceeding; and
(2) offers the borrower, if eligible, a modification or alternative.
Prohibits a servicer, during the suspension period, from:
(1) sending the borrower a notice of foreclosure,
(2) conducting or scheduling a sale of the real property securing the mortgage, or
(3) causing final judgment to be entered against the borrower.
Directs the Secretary of Housing and Urban Development (HUD) to establish such a mediation process.
Declares that a servicer is not required to suspend a foreclosure action if the servicer makes a reasonable effort to schedule a mediation proceeding and documents that the borrower has not agreed to one.
Makes a violation of this Act a bar to a foreclosure action.
Allows a servicer in compliance with this Act, however, to bring or proceed with a foreclosure action, regardless of any prior violation.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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