H.R. 1231 · 111th Congress
Foreclosure Rescue Fraud Act of 2009
Key: what the circles and colors mean
Each circle is a bill. The ring fills as it moves through Congress:
Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.
Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.
Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
MooreSponsor10 cosponsors · 10 D
D
Frank
BF
D
Filner
JS
D
Schakowsky
AC
D
Carson
JS
D
Serrano
AS
D
Sires
PH
D
Hodes
DK
D
Kucinich
SD
D
Davis
GM
D
Meeks1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Foreclosure Rescue Fraud Act of 2009 - Prohibits a foreclosure consultant from: (1) receiving compensation from a homeowner for services performed regarding residential real property until such consultant has fully performed each service contracted for; (2) holding power of attorney from any homeowner, except to inspect documents; (3) receiving…
What it does: CRS summary · Introduced in House · Feb 26, 2009
Foreclosure Rescue Fraud Act of 2009 - Prohibits a foreclosure consultant from: (1) receiving compensation from a homeowner for services performed regarding residential real property until such consultant has fully performed each service contracted for; (2) holding power of attorney from any homeowner, except to inspect documents; (3) receiving consideration from a third party in connection with services rendered to a homeowner by such third party with respect to the foreclosure, unless such consideration is fully disclosed in writing before such services are rendered; (4) accepting any wage assignment, lien, or other security to secure compensation for services rendered regarding foreclosure of the residential real property; or (5) acquiring any interest in the residence of a homeowner with whom the consultant has contracted.
Sets forth contract requirements. Permits a homeowner to cancel such contract without penalty or obligation.
Declares void and unenforceable: (1) any waiver by a homeowner of the protections provided in this Act; and (2) any contract that does not comply with this Act.
Requires a loan servicer to notify a homeowner of the dangers of fraudulent activities associated with foreclosure if the servicer finds that the homeowner has failed to make two consecutive payments on a residential mortgage loan and such loan is at risk of foreclosure.
Subjects any foreclosure consultant who fails to comply with this Act to liability for actual and punitive damages and attorneys' fees.
Empowers the Federal Trade Commission (FTC) and the states to enforce this Act.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Foreclosure Rescue Fraud Act of 2009
Latest action (Mar 2, 2009): Referred to the Subcommittee on Commerce, Trade and Consumer Protection.
Policy area: Housing and Community Development · Origin: House · Introduced: Feb 26, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.