H.R. 2666 · 111th Congress
Mortgage Foreclosure Rescue and Loan Modification Services Fraud Prevention Act of 2009
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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
MatsuiSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Mortgage Foreclosure Rescue and Loan Modification Services Fraud Prevention Act of 2009 - Directs the Federal Trade Commission (FTC) to conduct a rulemaking proceeding with respect to mortgage foreclosure rescue and loan modification services.
What it does: CRS summary · Introduced in House · Jun 2, 2009
Mortgage Foreclosure Rescue and Loan Modification Services Fraud Prevention Act of 2009 - Directs the Federal Trade Commission (FTC) to conduct a rulemaking proceeding with respect to mortgage foreclosure rescue and loan modification services.
Directs the FTC to include in the rule, among other things, requirements that: (1) any residential real property mortgage foreclosure rescue or loan modification service provided to a homeowner contain a written contract meeting specified criteria; (2) any such contract contain a clearly and prominently disclosed right for the homeowner to cancel within a set number of business days with no penalty or obligation; and (3) prohibits or restricts mortgage foreclosure rescue and loan modification services from requesting or receiving any funds until any such services have been fully performed, results have been achieved, and both have been documented to the consumer.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Mortgage Foreclosure Rescue and Loan Modification Services Fraud Prevention Act of 2009
Latest action (Jun 3, 2009): Referred to the Subcommittee on Commerce, Trade and Consumer Protection.
Policy area: Housing and Community Development · Origin: House · Introduced: Jun 2, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.