Zombie Property Relief Act of 2016

2016-04-28

Introduced in House

Zombie Property Relief Act of 2016

This bill authorizes the Consumer Financial Protection Bureau (CFPB) to assess a specified fine against a mortgagee that has failed to maintain residential real property that is subject to a federally-related mortgage in foreclosure (nuisance property) until ownership has been transferred to a new owner and the deed for such property transfer has been recorded.

The CFPB shall establish a system for reporting the existence of nuisance properties.

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