Prompt Notification of Short Sales Act
Latest action · Feb 26, 2013 Referred to the House Committee on Financial Services.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedFeb 26, 2013
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Prompt Notification of Short Sales Act - Requires each servicer of a home mortgage to provide in writing to a mortgagor of a residential mortgage loan specified prompt notifications and decisions regarding a written request of the mortgagor for a short sale of the dwelling or residential real property that is subject to the mortgage, deed of trust, or other security interest securing the mortgage loan.
Authorizes an aggrieved individual to bring a civil action for equitable relief and a monetary award of $1,000 for any violation of this Act.
Declares this Act inapplicable to certain residential mortgages entered into before its enactment whose mortgage agreements explicitly provide a procedure or terms for a short sale approval.
Cosponsors 7
Members who signed on, in the order they did. Signatures ran from Feb 26, 2013 to Mar 14, 2013, with 1 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NJ | Robert E. Andrews | Original | Feb 26, 2013 |
| D-NJ | Albio Sires | Mar 5, 2013 | |
| R-CA | Duncan Hunter | Mar 5, 2013 | |
| R-FL | Ander Crenshaw | Mar 14, 2013 | |
| D-IL | Bobby L. Rush | Mar 14, 2013 | |
| D-CA | Jerry McNerney | Mar 14, 2013 | |
| R-NV | Joseph J. Heck | Mar 14, 2013 |
Actions 2
Everything that happened, newest first.
- Feb 26, 2013Introduced in House
- Feb 26, 2013Referred to the House Committee on Financial Services.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 361 | Prompt Notification of Short Sales Act | Identical bill | Feb 14, 2013 |
| HR 5496 | Fast Help For Homeowners Act | Related bill | Sep 16, 2014 |
Subjects
Assigned by the Library of Congress. Policy area: Housing and Community Development.
Text 1
Each version as it was printed, newest first.
- Feb 26, 2013Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.