3.0.0 1386 2023-01-11T16:47:42Z 2023-01-11T16:47:42Z Senate S S 2007-05-14 110 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2007-05-14T21:22:31Z 2007-05-14 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S6066-6069) IntroReferral 2007-05-14 Sponsor introductory remarks on measure. (CR S6065) IntroReferral B00100 9 Library of Congress 2007-05-14 Introduced in Senate IntroReferral 10000 9 Library of Congress R000122 Sen. Reed, Jack [D-RI] John Reed D RI F. N W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI 2007-05-15 False C001070 Sen. Casey, Robert P., Jr. [D-PA] Bob Casey D PA 2007-06-14 False L000261 Sen. Levin, Carl [D-MI] CARL LEVIN D MI MILTON 2007-07-19 False D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2007-07-31 False S000770 Sen. Stabenow, Debbie [D-MI] Debbie Stabenow D MI 2007-09-10 False B000711 Sen. Boxer, Barbara [D-CA] BARBARA BOXER D CA 2007-10-30 False K000367 Sen. Klobuchar, Amy [D-MN] Amy Klobuchar D MN 2007-11-13 False Housing and Community Development Counseling Data banks Economics and Public Finance Federal aid to housing Finance and Financial Sector Foreclosure Government Operations and Politics Government publicity Home ownership Loan defaults Low-income housing Moderate income housing Mortgage banks Mortgages Science, Technology, Communications Social Welfare Housing and Community Development 00 2007-05-14 Introduced in Senate 2007-06-21T23:15:44Z Homeownership Protection and Enhancement Act of 2007 - Amends the Housing and Urban Development Act of 1968 to reauthorize and revise requirements for assistance with respect to housing for low- and moderate-income families.

Specifies additional circumstances making a homeowner eligible for homeownership counseling from an organization that has received a grant from the Department of Housing and Urban Development (HUD) to provide it.

Requires a proposed mortgagee to notify any eligible mortgage applicant of the availability of pre-purchase homeownership counseling, homeownership counseling, and homeownership protection center services.

Requires a proposed mortgagee, also, to notify a homeowner at closing of the availability of counseling upon delinquency and of the services of State Homeownership Protection Centers.

Requires specified mortgagee notices to homeowners in the event of mortgage payment delinquencies.

Directs the Secretary of HUD to award competitive grants to enable state housing finance agencies to establish State Homeownership Protection Centers.

Requires any State Homeownership Protection Center to provide a centralized location for information on, and referral to, public services for assisting a homeowner in default on a home loan.

Requires the Secretary also to award competitive grants to enable state housing finance agencies in states with such Centers to provide one-time emergency grants or subsidized home preservation loans to assist eligible homeowners in satisfying any amounts past due on their home loans.

Requires mortgagees to engage in reasonable loss mitigation activities to provide an alternative to foreclosure.

Prohibits a mortgagee from initiating or continuing a foreclosure upon written confirmation that the homeowner has applied for a home preservation loan.

Directs the Secretary to develop a plan to monitor the mortgage industry in order to predict likely future trends in foreclosures.

Requires the Secretary to develop recommendations for a national database on mortgage defaults and foreclosures.

Directs the Federal Financial Institutions Examination Council to create such a database.

]]> Homeownership Protection and Enhancement Act of 2007 Display Title Homeownership Protection and Enhancement Act of 2007 Official Title as Introduced A bill to amend the Housing and Urban Development Act of 1968, to provide better assistance to low- and moderate-income families, and for other purposes. Introduced in Senate IS Short Titles as Introduced Homeownership Protection and Enhancement Act of 2007 Introduced in Senate 2007-05-14T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s1386is/xml/BILLS-110s1386is.xml 2007-05-14 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S6066-6069) text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.