H.R. 1567: Foreclosure Prevention and Sound Mortgage Servicing Act of 2011

112th Congress · introduced 2011-04-14 · Housing and Community Development · Latest: Referred to the Subcommittee on Financial Institutions and Consumer Credit.

federal

Follow this bill, step by step

Where it came from: introduced 2011-04-14 · official record
Who proposed it: Rep. Waters, Maxine [D-CA-35] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the Subcommittee on Financial Institutions and Consumer Credit. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Foreclosure Prevention and Sound Mortgage Servicing Act of 2011

Plain summary

Foreclosure Prevention and Sound Mortgage Servicing Act of 2011 - Amends the Real Estate Settlement Procedures Act of 1974 (RESPA) to require the mortgagee, upon default of a federally related mortgage loan secured by a lien on the borrower's principal residence, to engage in loss mitigation activities that provide for: (1) the long-term affordability of the loan, and (2) the maximum retention of home equity. Places upon the mortgagee of the senior lien on the residence the primary responsibility for such loss mitigation activities. Prohibits the mortgagee of any subordinate lien from interfering with or inhibiting the modification of the senior lien. Requires the mortgagee of a subordinate loan to comply with specified rules to modify the subordinate lien. Prohibits initiation, continuation, or completion of foreclosure on any mortgage loan if the mortgagee or servicer has at any time failed to comply with loss mitigation requirements. Makes filing of a certification of loss mitigation activities, with respect to a covered federally related mortgage loan, a condition precedent to: (1) any valid foreclosure sale, and (2) the filing of any action to recover possession of the residence by the purchaser at such a sale. Specifies priority, secondary, and last-resort mitigation activities, including the appropriate circumstances for each kind. Sets forth criteria regarding the affordability of scheduled payments due from the borrower or mortgagor under a covered federally related mortgage loan pursuant to loss mitigation activities. Requires a mortgagee or servicer to explain to each requesting borrower or mortgagor why loss mitigation activities have been denied. Requires a mortgagee or servicer to provide the borrower with direct access to authorized loss mitigation personnel via a toll-free or collect-call telephone number. Prescribes general rules for third-party modification of a mortgage loan and consequent loss mitigation activities. Requires the servicer or mortgagee to forward to a housing counseling agency approved by the Secretary of Housing and Urban Development (HUD) the contact information of any borrower whose federally related mortgage loan payment is more than 60 days late. Prohibits a mortgagee from requiring a borrower, as a condition of loss mitigation activities, to: (1) waive or limit rights to certain legal actions against the mortgagee or servicer as a condition of accepting an offer of any loss mitigation activities, or (2) agree to arbitration as a condition of receiving loan modification activities. Specifies certain short sale and deed-in-lieu of foreclosure protections. Directs the Comptroller of the Currency to compile annually aggregate data by census tract for certain mortgagees in certain statistical areas. Requires the servicer of a mortgage loan to make available without charge, upon borrower's written request, specified account status information and documentation. Prohibits foreclosure proceedings while such a request is pending and the mortgagee or servicer has not complied with related requirements. Amends the Truth in Lending Act to prescribe: (1) the duties of standard of care governing lenders and loan servicers, and (2) fee assessments and disclosures. Prohibits fees for payoff statements. Amends RESPA to specify additional account information for the required notice by the transferor of a loan servicing contract at time of transfer. Directs the Director of the Bureau of Consumer Financial Protection of the Federal Reserve System and the federal banking regulatory agencies to issue regulations to ensure that the means and manner of compensation of servicers of federally related mortgage loans is consistent with the purposes of this Act and, to the extent possible, does not provide incentives for foreclosure of, or disincentives to engaging in reasonable loss mitigation activities for, such mortgages.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Foreclosure Prevention and Sound Mortgage Servicing Act of 2011

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Waters, Maxine [D-CA-35] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Emanuel Cleaver (D-MO)

Sponsor's campaign money: Rep. Waters, Maxine [D-CA-35] reported raising $1.1 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (3)

Appropriation: Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
Authorization: A law that creates or continues a government program and says what it may do, often with a suggested spending ceiling. An authorization alone does not provide money; a separate appropriation does.
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112hr1567.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/hr>

Record fed-us-cong112-hr1567 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112