,i  #aacth ,,congress  #b;d ,session    
,h4 ,r4 #eeec  ,,in ,,the ,,house ,,of  
,,representatives  ,september #ah1 #bjad
 ,mrs4 ,beatty 7for herself and ,mr4    
,heck of ,washington7 introduced the    
following bill2 which was referred to   
the ,committee on ,financial ,services  
,a ,,bill  ,to provide access to        
information and loan modifications for  
successors in interest1 and for other   
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,preventing         
,improper ,foreclosures ,act of #bjad4  
#b4 ,access to information and loan     
modifications ,section #cda of the      
,garn-,st ,germain ,depository          
,institutions ,act of #aihb 7#ab        
,u4,s4,c4 #agja;j-#c7 is amended by     
adding at the end the following3  7h7   
,access to information and loan         
modifications  7#a7 ,in general ,in the 
case of a transfer described under      
paragraph 7#c71 7#e71 7#f71 7#g71 7#h71 
or 7#i7 of subsection 7d71 a lender     
shall--  7,a7 provide the successor     

homeowner with information about the    
mortgage loan1 including the outstanding
 amount due1 monthly payment1 if any1   
and available loan modification options2
 and  7,b7 with respect to a transfer   
involving a real property loan other    
than a reverse mortgage--  7i7 promptly 
evaluate the successor homeowner for a  
loan modification on the same terms as  
if the successor homeowner had been the 
original borrower and mortgagor2 and    
7ii7 perform such evaluation and offer  
any available loss mitigation prior to  
any assumption of the obligations under 
the note4  7#b7 ,rule of ,construction  
,nothing in this subsection shall be    
construed to--  7,a7 limit or interfere 
with the independent rights of a        
successor homeowner to assume a mortgage
 under ,state law2 or  7,b7 empower a   
lender to place any restrictions on the 
right of successor homeowners protected 
by subsection 7d7 to assume a mortgage4 
7#c7 ,defense in foreclosure ,if a      
lender fails to comply with paragraph   

7#a71 such failure may be asserted as a 
defense to any judicial or non-judicial 
foreclosure4  7#d7 ,recovery of         
statutory damages1 actual damages1 and  
costs ,in any successful action brought 
by a successor homeowner under this     
subsection1 the homeowner shall be      
entitled to recover statutory damages   
not to exceed #a1jjj per violation1     
actual damages1 costs1 and attorneys    
fees4  4  #c4 ,protection of home equity
 conversion mortgagors  7a7 ,safeguard  
,to prevent displacement of homeowner   
,subsection 7j7 of section #bee of the  
,national ,housing ,act 7#ab ,u4,s4,c4  
#agaez-#bj7;j77 is amended--  7#a7 in   
the first sentence by striking the      
homeowner's obligation to satisfy the   
loan obligation is deferred until the   
homeowner's death and inserting maturity
 of the loan obligation is deferred     
until the death of the homeowner and the
 homeowner's spouse1 the permanent      
relocation of the homeowner and the     
homeowner's spouse2 and  7#b7 by        

striking the second sentence4  7b7 ,sale
 terms of eligible mortgages ,paragraph 
7#g7 of section #bee7;d7 of the         
,national ,housing ,act 7#ab ,u4,s4,c4  
#agaez-#bj7;d77#g77 is amended--  7#a7  
by redesignating subparagraphs 7,a7 and 
7,b7 as clauses 7i7 and 7ii71           
respectively1 and realigning such       
subparagraphs1 as so redesignated1 so as
 to be indented #f ems from the left    
margin2 and  7#b7 by striking the matter
 that precedes clause 7i7 7as so        
redesignated by paragraph 7#a7 of this  
subsection7 and inserting the following3
  7#g7  7,a7 provide that--  7i7 the    
mortgagor may sell the dwelling that is 
subject to the mortgage for at least the
 lesser of the remaining balance on the 
mortgage or the appraised value of such 
dwelling2  7ii7 if the loan is due and  
payable1 the mortgagor may sell the     
dwelling that is subject to the mortgage
 for the lesser of the remaining balance
 on the mortgage or the amount that is  
equal to #e percent less than the       

appraised value of such dwelling2 and   
7iii7 upon the death of the mortgagor1  
the estate or heirs of the mortgagor may
 satisfy the loan obligation by paying  
the lesser of the remaining balance on  
the mortgage or the amount that is equal
 to #e percent less than the appraised  
value of the dwelling that is subject to
 the mortgage2 and  7,b7 provide that   
the mortgagor1 the estate of the        
mortgagor1 or the heirs of the mortgagor
 shall not be liable for any difference 
between the amount of indebtedness under
 the mortgage and the amount recovered  
by the mortgagee from--  4