S. 690 · 112th Congress
Homeowner Advocate Act of 2011
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
FrankenSponsor14 cosponsors · 12 D, 1 R, 1 I
D
Brown
RD
D
Durbin
FL
D
Lautenberg
PL
D
Leahy
BM
D
Menendez
PM
D
Murray
JM
D
Merkley
JR
D
Reed
JR
D
Rockefeller
BS
I
Sanders
OS
R
Snowe
JS
D
Shaheen
KG
D
Gillibrand
RB
D
Blumenthal12 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Office of the Homeowner Advocate Act of 2011 - Establishes in the Department of the Treasury the Office of the Homeowner Advocate to assist homeowners, housing counselors, and housing lawyers in resolving problems with the Home Affordable Modification Program (HAMP) of the Making Home Affordable initiative of the Secretary of the Treasury, authorized under…
What it does: CRS summary · Introduced in Senate · Mar 30, 2011
Office of the Homeowner Advocate Act of 2011 - Establishes in the Department of the Treasury the Office of the Homeowner Advocate to assist homeowners, housing counselors, and housing lawyers in resolving problems with the Home Affordable Modification Program (HAMP) of the Making Home Affordable initiative of the Secretary of the Treasury, authorized under the Emergency Economic Stabilization Act of 2008.
Prohibits any modification of a mortgage under the Making Home Affordable Program, or with any funds from the Troubled Asset Relief Program (TARP), unless the servicer of the mortgage loan has determined, in accordance with standards and requirements established by the Secretary, that the mortgagor cannot afford to make payments under the terms of the existing mortgage loan. (Thus prohibits participation in such Program for borrowers who strategically default.)
Requires the Secretary to revise the guidelines for HAMP to establish that the data collected by the Secretary from each mortgage servicer and lender participating in the Program is made public at the individual record level in a specified manner.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Homeowner Advocate Act of 2011
Latest action (Mar 30, 2011): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Housing and Community Development · Origin: Senate · Introduced: Mar 30, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.