H.R. 6395 (112th): Foreclosure Accountability and Transparency Act

Introduced:
Sep 13, 2012 (112th Congress, 2011–2013)
Sponsor:
Rep. Joe Baca [D-CA43]
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 September 13, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Sep 13, 2012
Referred to Committee Sep 13, 2012
Cosponsors
none
Committees

House Financial Services

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

Full Title

To provide homeowners with additional protections and safeguards against foreclosure, and for other purposes.

Summary

No summaries available.

Text

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Last updated Sep 13, 2012.
10 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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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.

9/13/2012--Introduced.
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.

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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