H.R. 7326 · 110th Congress
Systematic Foreclosure Prevention and Mortgage Modification Act
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
WatersSponsor8 cosponsors · 8 D
8 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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…
What it does: CRS summary · Introduced in House · Dec 10, 2008
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Systematic Foreclosure Prevention and Mortgage Modification Act
Latest action (Dec 10, 2008): Referred to the House Committee on Financial Services.
Policy area: Housing and Community Development · Origin: House · Introduced: Dec 10, 2008
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.