I 111th CONGRESS 1st Session H. R. 2181 IN THE HOUSE OF REPRESENTATIVES April 29, 2009 Ms. Titus (for herself and Mr. Cardoza) introduced the following bill; which was referred to the Committee on Financial Services A BILL To require servicers of mortgages on single family homes to provide notice to mortgagors of possible eligibility for Federal mortgage assistance.

1.

Short title

This Act may be cited as the Mortgage Assistance Information and Scam Prevention Act of 2009.

2.

Notification of Federal assistance

(a)

Notice requirement

The Secretary of Housing and Urban Development (in this section referred to as the Secretary) shall require each covered servicer to provide notice in accordance with this section to each mortgagor under a covered mortgage serviced by such servicer. (b)

Covered servicers; servicer

(1)

Covered servicers

For purposes of this section, the term covered servicer means any servicer of a covered mortgage that has received any payments or fees under the Making Home Affordable Program of the Secretary of the Treasury, or under any program of the Department of Housing and Urban Development, in an aggregate amount of $1,000 or more. (2)

Servicer

For purposes of this section, the term servicer has the meaning given such term in section 6(i) of the Real Estate Settlement Procedures Act of 1974 (12 U.S.C. 2605). (c)

Covered mortgages

For purposes of this section, the term covered mortgage means a first mortgage (as such term is defined in section 201 of the National Housing Act (12 U.S.C. 1707)) on residential real property designed principally for occupancy of one to four families. (d)

Content

Notice in accordance with this section shall be notice, containing such information as the Secretary shall require, that is sufficient— (1)to notify the mortgagor that the mortgagor may be eligible for Federal or federally related assistance for homeowners; (2)to identify specific programs of the Department of Housing and Urban Development, the Rural Housing Service of the Department of Agriculture, the Department of Veterans Affairs, the Department of the Treasury, the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Federal Home Loan Banks, and any other Federal or federally related agencies or entities that provide home mortgage relief, home mortgage refinancing, home loan modification, home mortgage foreclosure mitigation, homeowner stability or affordability, or other homeowner assistance, including— (A)the HOPE for Homeowners Program under section 257 of the National Housing Act (12 U.S.C. 1715z–23); (B)FHA programs for mortgage refinancing under title II of such Act (12 U.S.C. 1707 et seq.); and (C)programs for homeowners under the Homeowner Affordability and Stability Plan of the Secretary of the Treasury; and (3)to explain how the mortgagor can obtain further information regarding such programs. (e)

Form and manner

Notice in accordance with this section with respect to a covered mortgage shall be provided in a form as shall be prescribed by the Secretary, and shall be provided by the same means, such as in writing provided by mail or in electronic form provided by electronic mail, that the servicer regularly uses for communication with the mortgagor under the mortgage. (f)

Period and frequency of notice

Notice in accordance with this section with respect to a covered mortgage shall be provided not less than once each calendar quarter during the period that begins upon the applicability of the requirement under this section (pursuant to subsections (a) and (b)) to the servicer of the mortgage and ends upon a determination by the Secretary of Housing and Urban Development that payments to mortgage servicers under the programs referred to in subsection (b)(1) have terminated.