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- H.R.5579
H.R.5579: Emergency Mortgage Loan Modification Act of 2008
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about finance and financial sector
- Introduced March 11, 2008
- Latest Major Action May 1, 2008
Bill Sponsor
Bill Summary
Emergency Mortgage Loan Modification Act of 2008 - Establishes a standard for loan modifications or workout plans for pools of certain residential mortgage loans. States that the servicer of such pooled loans owes a duty to the securitization vehicle to maximize recovery of proceeds for the benefit of all investors and holders of beneficial interests in the pooled loans, in the aggregate, and not to any individual party or group of parties....
(Source: Library of Congress)
Congressional Budget Office Estimate
Bill Actions
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Referred to the House Committee on Financial Services.
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Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
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Subcommittee Hearings Held.
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Committee Consideration and Mark-up Session Held.
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Ordered to be Reported (Amended) by Voice Vote.
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Reported (Amended) by the Committee on Financial Services. H. Rept. 110-615.
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Placed on the Union Calendar, Calendar No. 382.
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| March 11, 2008 |
Introduced in the House by Michael N. Castle (R-Del.) |