S. 3146 · 114th Congress
Preventing Abandoned Foreclosures and Preserving Communities Act of 2016
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
MenendezSponsor3 cosponsors · 3 D
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Preventing Abandoned Foreclosures and Preserving Communities Act of 2016
What it does: CRS summary · Introduced in Senate · Jul 7, 2016
Preventing Abandoned Foreclosures and Preserving Communities Act of 2016
This bill amends the Real Estate Settlement Procedures Act of 1974 to require a servicer of a federally related or federally backed mortgage loan to provide, with respect to foreclosure proceedings, specified notice to the borrower and applicable taxing district.
Unless specified requirements are met, a servicer of a loan insured by the Federal Housing Administration and backed by either the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac) may not abandon an initiated foreclosure.
The Consumer Financial Protection Bureau must establish a database of abandoned foreclosures.
The Government Accountability Office shall conduct a study on abandoned foreclosures.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Preventing Abandoned Foreclosures and Preserving Communities Act of 2016
Latest action (Jul 7, 2016): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Jul 7, 2016
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.