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114-hr-4182114th Congress

Prompt Notification of Short Sales Act

Sponsored By: Representative Rooney, Thomas J. [R-FL-17]

Unknown

Summary

Prompt Notification of Short Sales Act This bill 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 the mortgagor's written request for a short sale of the dwelling or residential real property subject to the mortgage, deed of trust, or other security interest securing the mortgage loan. An aggrieved individual may bring a civil action for equitable relief and a monetary award of $1,000 for any violation of this Act. This bill shall not apply to certain residential mortgages entered into before its enactment whose mortgage agreements explicitly provide a procedure or terms for a short sale approval.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Rooney, Thomas J. [R-FL-17]

FL • R

Cosponsors

  • Rep. Frankel, Lois [D-FL-22]

    FL • D

    Sponsored 12/3/2015

Roll Call Votes

No roll call votes available for this bill.

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