To amend the Real Estate Settlement Procedures Act of 1974 to provide protections to borrowers, and for other purposes.
United States115th CongressHR-3015House of Representatives
Updated: Jun 22, 2017
Summary
National Homeowners Bill of Rights Act of 2017 This bill requires servicers of federally related mortgage loans to (1) establish for each borrower's account a single electronic record accessible throughout the servicer and available to all relevant staff; (2) maintain a website where borrowers may check their estimated net present value; and (3) provide free interpretation services to borrowers. The bill also (1) establishes a loan-modification process to reduce the payments of eligible borrowers, (2) directs the Consumer Financial Protection Bureau to appoint a Mortgage Servicer Ombudsman, and (3) establishes certain limits on foreclosure sales.
Bill texts
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Timeline
Introduced in House
Sponsor introductory remarks on measure. (CR H5096)
Referred to the House Committee on Financial Services.
House of Representatives
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