US HB37 | 2009-2010 | 111th Congress
Status
Spectrum: Partisan Bill (Democrat 12-0)
Status: Introduced on January 6 2009 - 25% progression, died in committee
Action: 2009-01-06 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 6 2009 - 25% progression, died in committee
Action: 2009-01-06 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Systematic Foreclosure Prevention and Mortgage Modification Act - Directs the Chairperson of the Federal Deposit Insurance Corporation (FDIC) to establish a systematic foreclosure prevention and mortgage modification program by: (1) paying mortgage servicers $1,000 to cover expenses for each loan modified according to specified standards; and (2) sharing up to 50% of any losses incurred if a modified loan should subsequently re-default.
Title
Systematic Foreclosure Prevention and Mortgage Modification Act
Sponsors
| Rep. Joe Baca [D-CA] | Rep. Michael Capuano [D-MA] | Rep. Yvette Clarke [D-NY] | Rep. Emanuel Cleaver [D-MO] |
| Rep. Al Green [D-TX] | Rep. Maurice Hinchey [D-NY] | Rep. Paul Hodes [D-NH] | Rep. Barbara Lee [D-CA] |
| Rep. Carolyn Maloney [D-NY] | Rep. Nydia Velazquez [D-NY] | Rep. Maxine Waters [D-CA] | Rep. Melvin Watt [D-NC] |
History
| Date | Chamber | Action |
|---|---|---|
| 2009-01-06 | Referred to the House Committee on Financial Services. |
Same As/Similar To
SB73 (Same As) 2009-01-06 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S73-74)
Subjects
Housing and community development
Housing and community development funding
Housing finance and home ownership
Housing and community development funding
Housing finance and home ownership
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/111th-congress/house-bill/37/all-info |
| Text | https://www.congress.gov/111/bills/hr37/BILLS-111hr37ih.pdf |
