A bill to make necessary reforms to improve compliance with loss mitigation requirements by servicers of mortgages for single family housing insured by the FHA, and for other purposes.
About This Bill
Committee
Latest Action · July 25, 2019
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
FHA Foreclosure Prevention Act of 2019
This bill revises foreclosure-prevention measures for single-family homes insured by the Federal Housing Administration. Specifically, the bill
requires documentation from mortgage servicers of loss mitigation efforts, provides the Department of Housing and Urban Development with oversight responsibilities over mortgage servicers, establishes a complaint procedure for borrowers regarding mortgage servicers, and requires a mortgage servicer to provide notice to borrowers regarding the loss mitigation process.
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