,i  #aacth ,,congress  #ast ,session    
,h4 ,r4 #aij  ,,in ,,the ,,house ,,of   
,,representatives  ,january #d1 #bjac   
,ms4 ,kaptur introduced the following   
bill2 which was referred to the         
,committee on ,financial ,services  ,a  
,,bill  ,to require the filing of       
certain information regarding a         
residential mortgage in any proceeding  
for foreclosure of the mortgage4  #a4   
,short title ,this ,act may be cited as 
the ,produce the ,note ,act of #bjac4   
#b4 ,required information and notice    
,notwithstanding any other provision of 
,state or ,federal law1 no foreclosure1 
whether judicial or nonjudicial1 may be 
commenced with respect to a covered     
residential mortgage unless the person  
commencing the foreclosure complies with
 all of the following requirements3     
7#a7 ,submission of information ,the    
person commencing the foreclosure shall 
submit to the court1 in the case of a   
judicial foreclosure1 or to the office  
of the ,state or other subdivision of   

the ,state to which notice of default1  
foreclosure1 or sale of the foreclosed  
property is required under ,state law to
 be submitted1 in the case of a         
nonjudicial foreclosure1 a report       
prepared by an independent party that   
includes the following information3     
7,a7 ,a statement of findings as to     
whether the covered residential mortgage
 was made and serviced in compliance    
with the terms of1 and regulations      
under1 the following laws3  7i7 ,the    
,truth in ,lending ,act 7#ae ,u4,s4,c4  
#afja7 and ,regulation ,z of the ,board 
of ,governors of the ,federal ,reserve  
,system under such ,act4  7ii7 ,the     
,equal ,credit ,opportunity ,act 7#ae   
,u4,s4,c4 #afia et seq47 and ,regulation
 ,b of the ,board of ,governors of the  
,federal ,reserve ,system under such    
,act4  7iii7 ,the ,fair ,debt           
,collection ,practices ,act 7#ae        
,u4,s4,c4 #afib et seq474  7iv7 ,the    
,federal ,fair ,credit ,reporting ,act  
7#ae ,u4,s4,c4 #afha et seq474  7v7 ,the

 ,real ,estate ,settlement ,procedures  
,act of #aigd 7#ab ,u4,s4,c4 #bfja et   
seq47 and ,regulation ,x of the         
,secretary of ,housing and ,urban       
,development under such ,act4  7vi7 ,the
 ,flood ,disaster ,protection ,act of   
#aigc 7#db ,u4,s4,c4 #bjjb et seq474    
7vii7 ,the ,fair ,housing ,act 7#db     
,u4,s4,c4 #cfja et seq474  7viii7 ,the  
,home ,mortgage ,disclosure ,act of     
#aige 7#ab ,u4,s4,c4 #bhja et seq474    
7ix7 ,the ,financial ,institutions      
,reform1 ,recovery1 and ,enforcement    
,act of #aihi 7,public ,law #aja-gc74   
7x7 ,any applicable provisions of ,state
 and local law relating to real estate  
lending or consumer protection4  7,b7   
,certification of any mortgage          
modification efforts that were employed 
and any offers made to the mortgagor by 
the person commencing the foreclosure4  
7,c7 ,if any noncompliance is found     
pursuant to subparagraph 7,a71 a        
statement as to whether the violations  
are such that the mortgagor should be   

afforded an extended right1 beyond the  
period permitted under ,state law--  7i7
 to rescind the mortgage in defense of  
the foreclosure2 or  7ii7 to redeem the 
mortgage4  7,d7 ,identification of--    
7i7 the actual holder of the mortgage   
note1 the originating lender for the    
mortgage and all subsequent assignees1  
and all other parties who have an       
interest in the real estate that is     
subject to the mortgage or in the       
mortgage or the proceeds of the         
mortgage2 and  7ii7 any parties         
identified pursuant to clause 7i7 that  
received any assistance pursuant to     
title ,i of the ,emergency ,economic    
,stabilization ,act of #bjjh 7#ab       
,u4,s4,c4 #ebaa et seq47 and the amount 
of any such assistance received4  7,e7  
,a statement of whether a bona fide     
default on the covered mortgage has     
occurred4  7,f7 ,a description of any   
hardship circumstances regarding the    
economic circumstances of the mortgagor 
that would be relevant to a             

determination by the mortgagee of       
whether to modify the mortgage4  7,g7 ,a
 statement of whether the mortgage is   
insured under title ,,ii of the         
,national ,housing ,act 7#ab ,u4,s4,c4  
#agjg et seq474  7,h7 ,a statement of   
whether the mortgage is1 or any terms of
 the mortgage are1 unfair or constitute 
an unfair or deceptive act or practice  
violating the ,federal ,trade           
,commission ,act 7#ae ,u4,s4,c4 #da et  
seq471 and if so1 a description of the  
unfairness or the unfair or deceptive   
act or practice4  7,i7 ,a statement of  
whether any material misrepresentations 
were made that fraudulently induced the 
mortgagor to enter into the transaction 
to his or her detriment1 and if so1 a   
description of such misrepresentation4  
7,j7 ,identification of any offsets to  
the creditor claim on the mortgage4     
7,k7 ,a statement of the racial         
characteristics1 gender1 census tract1  
and income level of the mortgagor1 as   
such terms are used for purposes of     

compliance with the ,home ,mortgage     
,disclosure ,act of #aige 7#ab ,u4,s4,c4
 #bhja et seq474  7#b7 ,required        
notification ,the person commencing the 
foreclosure shall provide notice to the 
mortgagor1 in writing1 not less than #e 
days before any action is taken to      
commence the proceeding or action for   
foreclosure1 and shall certify to the   
court1 in the case of a judicial        
foreclosure1 or to the office of the    
,state or other subdivision of the      
,state to which notice of default1      
foreclosure1 or sale of the foreclosed  
property is required under ,state law to
 be submitted in the case of a          
nonjudicial foreclosure1 that such      
notice has been provided1 that includes 
the following information3  7,a7 ,a     
statement of any rights of the mortgagor
 under the applicable laws governing the
 foreclosure and consumer rights4  7,b7 
,a statement of any deadlines for filing
 answers1 defenses1 or objections to the
 foreclosure1 including those rights of 

the mortgagor under the ,real ,estate   
,settlement ,procedures ,act of #aigd   
and any applicable ,state laws4  7,c7 ,a
 statement of any penalties and other   
consequences for the mortgagor if the   
mortgagor does not respond or file      
answers to the foreclosure4  7,d7 ,a    
statement of the amounts claimed to be  
in arrears under the mortgage and needed
 to reinstate the account and all       
associated costs and fees1 set forth in 
itemized and distinct categories1 and   
current and correct contact information1
 including telephone numbers1 electronic
 mail addresses1 and postal addresses1  
at which the mortgagor can obtain       
further information regarding the       
mortgage account4  7,e7 ,a description  
of any additional options1 such as      
mortgage workout1 modification1         
mitigation1 and redemption1 that might  
be available to the mortgagor to prevent
 the foreclosure from proceeding and a  
description of how the mortgagor can    
obtain additional information regarding 

such options4  7,f7 ,a statement of the 
correct names1 telephone numbers1       
electronic mail addresses1 postal       
addresses1 and any ,state licensing     
numbers of the mortgage holder1 the     
mortgage servicer1 and the person or    
persons authorized to take the actions  
described pursuant to subparagraph 7,e74
  #c4 ,definitions ,for purposes of this
 ,act1 the following definitions shall  
apply3  7#a7 ,independent party ,the    
term independent party means1 with      
respect to foreclosure on a covered     
residential mortgage1 an individual who 
has no interest in1 or affiliation with1
 any party involved in such foreclosure 
or with the covered residential mortgage
 involved in such foreclosure1 including
 any party that owns1 manages1 controls1
 or directs such an involved party1 any 
party that is owned1 managed1           
controlled1 or directed by such an      
involved party1 or any party that is    
under common ownership1 management1     
control1 or direction with such an      

involved party4  7#b7 ,covered          
residential mortgage ,the term covered  
residential mortgage means a mortgage   
that meets the following requirements3  
7,a7 ,the property securing the         
obligation under the mortgage shall be a
 one- to four-family dwelling1 including
 a condominium or a share in a          
cooperative ownership housing           
association4  7,b7 ,the mortgagor under 
the mortgage shall occupy the property  
securing the obligation under the       
mortgage as his or her principal        
residence4  7#c7 ,mortgage  7,a7 ,in    
general ,the term mortgage means a deed 
of trust1 mortgage1 deed to secure debt1
 security agreement1 or any other form  
of instrument under which any property  
7real1 personal1 or mixed71 or any      
interest in property 7including         
leaseholds1 life estates1 reversionary  
interests1 and any other estates under  
applicable ,state law71 is conveyed in  
trust1 mortgaged1 encumbered1 pledged1  
or otherwise rendered subject to a lien 

for the purpose of securing the payment 
of money or the performance of an       
obligation4  7,b7 ,condominiums and     
cooperatives ,such term includes a first
 mortgage given to secure--  7i7 the    
unpaid purchase price of a fee interest 
in1 or a long-term leasehold interest   
in1 a one-family unit in a multifamily  
project1 including a project in which   
the dwelling units are attached or are  
manufactured housing units1             
semi-detached1 or detached1 and an      
undivided interest in the common areas  
and facilities that serve the project2  
or  7ii7 repayment of a loan made to    
finance the purchase of stock or        
membership in a cooperative housing     
corporation the permanent occupancy of  
dwelling units of which is restricted to
 members of such corporation1 where the 
purchase of such stock or membership    
entitles the purchaser to the permanent 
occupancy of one of such units4  #d4    
,relation to ,state law ,this ,act does 
not annul1 alter1 or affect1 or exempt  

any person subject to the provisions of 
this ,act from complying with1 the laws 
of any ,state or subdivision thereof    
with respect to foreclosure on a        
residential mortgage1 except to the     
extent that those laws are inconsistent 
with any provision of this ,act1 and    
then only to the extent of the          
inconsistency4 ,no provision of the laws
 of any ,state or subdivision thereof   
may be determined to be inconsistent    
with any provision of this ,act if such 
law is determined to require greater    
disclosure or notice than is required   
under this ,act or to provide greater   
protection to the mortgagee than is     
required under this ,act4