3.0.0 1477 2021-09-28T13:31:36Z 2021-09-28T13:31:36Z House H HR 2011-04-12 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. CUMMINGS:H.R. 1477.Congress has the power to enact this legislation pursuantto the following:Art. 1, Sec. 8, cl. 1 of the United States Constitution,which states ``The Congress shall have Power to lay andcollect Taxes, Duties, Imposts and Excises, to pay the Debtsand provide for the common Defence and general Welfare of theUnited States; but all Duties, Imposts and Excises shall beuniform throughout the United States;'' andArt. 1 Sec. 8, cl. 3 ``[The Congress shall have Power] [t]oregulate Commerce with foreign Nations, and among the severalStates, and with the Indian Tribes.''[Page H2604]]]> hsba00 Financial Services Committee House Standing hsba04 Housing and Insurance Subcommittee Referred to 2011-05-02T15:56:06Z hsba15 Consumer Protection and Financial Institutions Subcommittee Referred to 2011-05-02T15:55:47Z Referred to 2011-04-12T16:01:25Z Preserving Homes and Communities Act of 2011 112 489 S 2011-03-03 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S1233-1235) Identical bill CRS 2011-05-02 hsba04 Housing and Insurance Subcommittee 1 House committee actions Referred to the Subcommittee on Insurance, Housing and Community Opportunity. Committee 2011-05-02 hsba15 Consumer Protection and Financial Institutions Subcommittee 1 House committee actions Referred to the Subcommittee on Financial Institutions and Consumer Credit. Committee 2011-04-12 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2011-04-12 Introduced in House IntroReferral Intro-H 9 Library of Congress 2011-04-12 Introduced in House IntroReferral 1000 9 Library of Congress C000984 Rep. Cummings, Elijah E. [D-MD-7] ELIJAH CUMMINGS D MD E. 7 N C001085 Rep. Clarke, Hansen [D-MI-13] Hansen Clarke D MI 13 2011-04-12 True M001154 Rep. Miller, Brad [D-NC-13] Brad Miller D NC 13 2011-04-12 True M000725 Rep. Miller, George [D-CA-7] GEORGE MILLER D CA 7 2011-04-12 True C001049 Rep. Clay, Wm. Lacy [D-MO-1] WM. CLAY D MO LACY 1 2011-04-12 True B001231 Rep. Berkley, Shelley [D-NV-1] SHELLEY BERKLEY D NV 1 2011-04-12 True E000215 Rep. Eshoo, Anna G. [D-CA-14] ANNA ESHOO D CA G. 14 2011-04-12 True W000738 Rep. Woolsey, Lynn C. [D-CA-6] LYNN WOOLSEY D CA 6 2011-04-12 True W000800 Rep. Welch, Peter [D-VT-At Large] Peter Welch D VT 0 2011-04-12 True S001175 Rep. Speier, Jackie [D-CA-12] Jackie Speier D CA 12 2011-04-12 True G000559 Rep. Garamendi, John [D-CA-10] John Garamendi D CA 10 2011-04-12 True B000911 Rep. Brown, Corrine [D-FL-3] CORRINE BROWN D FL 3 2011-04-12 True N000147 Del. Norton, Eleanor Holmes [D-DC-At Large] ELEANOR NORTON D DC HOLMES 0 2011-04-12 True T000266 Rep. Tierney, John F. [D-MA-6] JOHN TIERNEY D MA F. 6 2011-04-12 True G000551 Rep. Grijalva, Raúl M. [D-AZ-7] Raúl Grijalva D AZ M. 7 2011-04-12 True H000627 Rep. Hinchey, Maurice D. [D-NY-22] MAURICE HINCHEY D NY D. 22 2011-04-12 True E000290 Rep. Edwards, Donna F. [D-MD-4] Donna Edwards D MD F. 4 2011-04-12 True H001032 Rep. Holt, Rush [D-NJ-12] RUSH HOLT D NJ D. 12 2011-04-12 True C001084 Rep. Cicilline, David N. [D-RI-1] David Cicilline D RI N. 1 2011-04-12 True M001160 Rep. Moore, Gwen [D-WI-4] Gwen Moore D WI 4 2011-04-12 True S001174 Rep. Sutton, Betty [D-OH-13] Betty Sutton D OH 13 2011-04-12 True S001145 Rep. Schakowsky, Janice D. [D-IL-9] JANICE SCHAKOWSKY D IL D. 9 2011-04-12 True H000324 Rep. Hastings, Alcee L. [D-FL-23] ALCEE HASTINGS D FL L. 23 2011-04-12 True G000553 Rep. Green, Al [D-TX-9] Al Green D TX 9 2011-04-12 True J000283 Rep. Jackson, Jesse L., Jr. [D-IL-2] JESSE JACKSON D IL L. 2 2011-04-13 False Q000023 Rep. Quigley, Mike [D-IL-5] Mike Quigley D IL 5 2011-04-13 False M000404 Rep. McDermott, Jim [D-WA-7] JIM MCDERMOTT D WA 7 2011-04-14 False G000535 Rep. Gutierrez, Luis V. [D-IL-4] LUIS GUTIERREZ D IL V. 4 2011-04-14 False K000336 Rep. Kucinich, Dennis J. [D-OH-10] DENNIS KUCINICH D OH J. 10 2011-05-02 False C000714 Rep. Conyers, John, Jr. [D-MI-14] JOHN CONYERS D MI 14 2011-05-02 False V000081 Rep. Velazquez, Nydia M. [D-NY-12] NYDIA VELAZQUEZ D NY M. 12 2011-05-02 False C001068 Rep. Cohen, Steve [D-TN-9] Steve Cohen D TN 9 2011-05-10 False S001168 Rep. Sarbanes, John P. [D-MD-3] John Sarbanes D MD P. 3 2011-05-24 False L000559 Rep. Langevin, James R. [D-RI-2] JAMES LANGEVIN D RI R. 2 2011-05-24 False F000339 Rep. Frank, Barney [D-MA-4] BARNEY FRANK D MA 4 2011-05-24 False C001080 Rep. Chu, Judy [D-CA-32] Judy Chu D CA 32 2011-06-03 False S000480 Rep. Slaughter, Louise McIntosh [D-NY-28] LOUISE SLAUGHTER D NY M. 28 2011-06-15 False S000810 Rep. Stark, Fortney Pete [D-CA-13] PETE STARK D CA 13 2011-06-15 False H001034 Rep. Honda, Michael M. [D-CA-15] MICHAEL HONDA D CA M. 15 2011-07-11 False B001270 Rep. Bass, Karen [D-CA-33] Karen Bass D CA 33 2011-07-11 False T000326 Rep. Towns, Edolphus [D-NY-10] EDOLPHUS TOWNS D NY 10 2011-09-12 False H001042 Rep. Hirono, Mazie K. [D-HI-2] Mazie Hirono D HI K. 2 2011-09-12 False L000287 Rep. Lewis, John [D-GA-5] JOHN LEWIS D GA 5 2011-09-13 False D000216 Rep. DeLauro, Rosa L. [D-CT-3] ROSA DELAURO D CT 3 2011-10-14 False A000022 Rep. Ackerman, Gary L. [D-NY-5] GARY ACKERMAN D NY L. 5 2011-10-27 False W000808 Rep. Wilson, Frederica S. [D-FL-17] Frederica Wilson D FL S. 17 2011-11-30 False D000610 Rep. Deutch, Theodore E. [D-FL-19] Theodore Deutch D FL E. 19 2011-12-06 False T000460 Rep. Thompson, Mike [D-CA-1] MIKE THOMPSON D CA 1 2011-12-14 False R000515 Rep. Rush, Bobby L. [D-IL-1] BOBBY RUSH D IL L. 1 2012-02-02 False L000397 Rep. Lofgren, Zoe [D-CA-16] ZOE LOFGREN D CA 16 2012-03-28 False B000574 Rep. Blumenauer, Earl [D-OR-3] EARL BLUMENAUER D OR 3 2012-04-17 False C001066 Rep. Castor, Kathy [D-FL-11] Kathy Castor D FL 11 2012-11-13 False Housing and Community Development Civil actions and liability Financial crises and stabilization Government trust funds Housing finance and home ownership State and local government operations User charges and fees Housing and Community Development 00 2011-04-12 Introduced in House 2011-06-09T16:44:13Z Preserving Homes and Communities Act of 2011 - Prohibits a covered mortgagee from initiating either a nonjudicial or a judicial foreclosure, otherwise authorized under state law, against a covered mortgagor unless the mortgagee: (1) has used its best efforts to determine whether the mortgagor is eligible for a qualified loan modification, and to offer one if this is the case; and (2) has made certain documentation available to an ineligible mortgagor regarding a loan modification calculation or net present value calculation, the loan origination, any pooling and servicing agreement, the mortgagor's payment history, as well as specific alternatives to foreclosure, including qualified loan modifications, workout agreements, and short sales.

Requires a covered mortgagee to use its best efforts to suspend any foreclosure proceeding initiated before enactment of this Act, and to toll any deadlines limiting the mortgagor's rights. Prohibits any sale of the property under the mortgage or the entry of judgment against the mortgagor.

Requires the mortgagee to reevaluate an eligible mortgagee's application for a qualified loan modification and, if the mortgagor is eligible, offer one.

Requires the Secretary of the Treasury, the Secretary of Housing and Urban Development (HUD), and the Director of the Bureau of Consumer Financial Protection (CFPB) to ensure that any home loan modification protocol includes a dispute resolution procedure.

Declares any sale of property in violation of this Act void. Makes failure to comply with this Act a bar to foreclosure under state law.

Prohibits loan modification fees and sets forth rules governing foreclosure-related fees.

Directs the Secretary of HUD to: (1) establish a program to make competitive grants to state and local governments to establish mediation programs that assist mortgagors facing foreclosure, and (2) develop and implement a plan to monitor conditions and trends in home ownership and the mortgage industry and the effectiveness of public and private efforts to reduce mortgage defaults and foreclosures.

Directs the Secretary of the Treasury, out of funds received or to be received from the sale of warrants under the Emergency Economic Stabilization Act of 2008, to transfer and credit $1 billion to the Housing Trust Fund established under the Federal Housing Enterprises Financial Safety and Soundness Act of 1992.

]]> Preserving Homes and Communities Act of 2011 Short Titles as Introduced Preserving Homes and Communities Act of 2011 Official Title as Introduced To require certain mortgagees to evaluate loans for modifications, to establish a grant program for State and local government mediation programs, and for other purposes. Display Title Preserving Homes and Communities Act of 2011 Introduced in House 2011-04-12T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr1477ih/xml/BILLS-112hr1477ih.xml 2011-05-02 Referred to the Subcommittee on Insurance, Housing and Community Opportunity. 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.