HR 3958
FHA Foreclosure Prevention Act of 2019
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- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The FHA Foreclosure Prevention Act of 2019 aims to reduce foreclosures for homeowners with FHA-insured mortgages. It requires mortgage servicers to document their loss mitigation efforts, and gives the Department of Housing and Urban Development (HUD) oversight authority to ensure compliance. The bill also establishes a process for borrowers to file complaints about servicers and guarantees borrowers will receive notice before a foreclosure is initiated, detailing the loss mitigation process and decisions made.
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Primary sponsor
Cosponsors
Carolyn B. Maloney
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