H.R.125 - FHA In-Person Servicing Improvement Act of 2015114th Congress (2015-2016)
|Sponsor:||Rep. Green, Al [D-TX-9] (Introduced 01/06/2015)|
|Committees:||House - Financial Services|
|Latest Action:||House - 01/06/2015 Referred to the House Committee on Financial Services. (All Actions)|
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Summary: H.R.125 — 114th Congress (2015-2016)All Information (Except Text)
Introduced in House (01/06/2015)
FHA In-Person Servicing Improvement Act of 2015
Directs the Secretary of Housing and Urban Development (HUD) to carry out a pilot program to use authority under the National Housing Act to pay insurance benefits to compensate a mortgagee for any costs of taking loss mitigation actions providing an alternative to foreclosure of a mortgage in default or facing imminent default.
Requires the Secretary to make payments to a qualified entity or entities to compensate for their costs of making in-person contact with mortgagors whose payments under covered mortgages are more than 60 days past due.