US Congress Senate Bill 361 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Democrat 5-2)
Status: Introduced on February 14 2013 - 25% progression, died in committee
Action: 2013-02-14 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]

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

Prompt Notification of Short Sales Act

Sen. Lisa Murkowski [R-AK]	Sen. Sherrod Brown [D-OH]	Sen. Michael Enzi [R-WY]	Sen. Robert Menendez [D-NJ]
Sen. Jeff Merkley [D-OR]	Sen. Jack Reed [D-RI]	Sen. Elizabeth Warren [D-MA]

Date	Chamber	Action
2013-02-14	Senate	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

HB839 (Related) 2013-02-26 - Referred to the House Committee on Financial Services.
HB5496 (Related) 2014-09-16 - Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/senate-bill/361/all-info
Text	https://www.congress.gov/113/bills/s361/BILLS-113s361is.pdf