H.R. 3015 · 115th Congress
National Homeowners Bill of Rights Act of 2017
- Stage
- In committee
- Sponsor
- Michelle Lujan Grisham
- Introduced
- 2017-06-22
- Latest action
- 2017-06-22 · Introduced in House
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.