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- H.R.7326
H.R.7326: Systematic Foreclosure Prevention and Mortgage Modification Act
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about economics and public finance
- Introduced Dec. 10, 2008
- Latest Major Action Dec. 10, 2008
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
8 (All Democrats)
Bill Summary
Systematic Foreclosure Prevention and Mortgage Modification Act - Directs the Chairperson of the Federal Deposit Insurance Corporation (FDIC) to establish a systematic foreclosure prevention and mortgage modification program by: (1) paying mortgage servicers $1,000 to cover expenses for each loan modified according to specified standards; and (2) sharing up to 50% of any losses incurred if a modified loan should subsequently re-default.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the House Committee on Financial Services.
|
|
| Dec. 10, 2008 |
Introduced in the House by Maxine Waters (D-Calif.) |