,i  #aac? ,,congress  #b;d ,session  ,h4
 ,r4 #eeec  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,septemb] #ah1 #bjad  
,mrs4 ,beatty 7= h]self & ,mr4 ,heck (  
,wa%+ton7 introduc$ ! foll[+ bill2 :i* 0
 ref]r$ to ! ,committee on ,f9ancial    
,s]vices  ,a ,,bill  ,to provide access 
to in=mation & loan modifications =     
successors 9 int]e/1 & = o!r purposes4  
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,prev5t+ ,improp] ,=eclosures ,act (  
#bjad4  #b4 ,access to in=mation & loan 
modifications ,section #cda ( ! ,g>n-,/ 
,g]ma9 ,depository ,in/itutions ,act (  
#aihb 7#ab ,u4,s4,c4 #agja;j-#c7 is     
am5d$ by add+ at ! end ! foll[+3  7h7   
,access to in=mation & loan             
modifications  7#a7 ,9 g5]al ,9 ! case (
 a transf] describ$ "u p>agraph 7#c71   
7#e71 7#f71 7#g71 7#h71 or 7#i7 (       
subsection 7d71 a l5d] %all--  7,a7     
provide ! successor home[n] ) in=mation 
ab\t ! mortgage loan1 includ+ ! out/&+  
am\nt due1 mon?ly paym5t1 if any1 &     
available loan modification options2 &  

7,b7 ) respect to a transf] involv+ a   
real prop]ty loan o!r ?an a rev]se      
mortgage--  7i7 promptly evaluate !     
successor home[n] = a loan modification 
on ! same t]ms z if ! successor home[n] 
_h be5 ! orig9al borr[] & mortgagor2 &  
7ii7 p]=m su* evaluation & (f] any      
available loss mitigation prior to any  
assumption ( ! obligations "u ! note4   
7#b7 ,rule ( ,con/ruction ,no?+ 9 ?is   
subsection %all be con/ru$ to--  7,a7   
limit or int]f]e ) ! indep5d5t rights ( 
a successor home[n] to assume a mortgage
 "u ,/ate law2 or  7,b7 emp[] a l5d] to 
place any re/rictions on ! "r (         
successor home[n]s protect$ by          
subsection 7d7 to assume a mortgage4    
7#c7 ,def5se 9 =eclosure ,if a l5d]     
fails to comply ) p>agraph 7#a71 su*    
failure may be ass]t$ z a def5se to any 
judicial or non-judicial =eclosure4     
7#d7 ,recov]y ( /atutory damages1 actual
 damages1 & co/s ,9 any successful      
action br\ght by a successor home[n] "u 
?is subsection1 ! home[n] %all be       

entitl$ to recov] /atutory damages n to 
exce$ #a1jjj p] violation1 actual       
damages1 co/s1 & attorneys fees4  4  #c4
 ,protection ( home equity conv]sion    
mortgagors  7a7 ,safegu>d ,to prev5t    
displacem5t ( home[n] ,subsection 7j7 ( 
section #bee ( ! ,national ,h\s+ ,act   
7#ab ,u4,s4,c4 #agaez-#bj7;j77 is       
am5d$--  7#a7 9 ! fir/ s5t5ce by /rik+ !
 home[n]'s obligation to satisfy ! loan 
obligation is def]r$ until ! home[n]'s  
dea? & ins]t+ maturity ( ! loan         
obligation is def]r$ until ! dea? ( !   
home[n] & ! home[n]'s sp\se1 ! p]man5t  
relocation ( ! home[n] & ! home[n]'s    
sp\se2 &  7#b7 by /rik+ ! second s5t5ce4
  7b7 ,sale t]ms ( eligible mortgages   
,p>agraph 7#g7 ( section #bee7;d7 ( !   
,national ,h\s+ ,act 7#ab ,u4,s4,c4     
#agaez-#bj7;d77#g77 is am5d$--  7#a7 by 
r$esignat+ subp>agraphs 7,a7 & 7,b7 z   
clauses 7i7 & 7ii71 respectively1 &     
realign+ su* subp>agraphs1 z s          
r$esignat$1 s z to be ind5t$ #f ems f ! 
left m>g92 &  7#b7 by /rik+ ! matt] t   

prec$es clause 7i7 7z s r$esignat$ by   
p>agraph 7#a7 ( ?is subsection7 & ins]t+
 ! foll[+3  7#g7  7,a7 provide t--  7i7 
! mortgagor may sell ! dwell+ t is      
subject to ! mortgage = at lea/ ! less] 
( ! rema9+ balance on ! mortgage or !   
apprais$ value ( su* dwell+2  7ii7 if ! 
loan is due & payable1 ! mortgagor may  
sell ! dwell+ t is subject to ! mortgage
 = ! less] ( ! rema9+ balance on !      
mortgage or ! am\nt t is equal to #e    
p]c5t less ?an ! apprais$ value ( su*   
dwell+2 &  7iii7 ^u ! dea? ( !          
mortgagor1 ! e/ate or heirs ( !         
mortgagor may satisfy ! loan obligation 
by pay+ ! less] ( ! rema9+ balance on ! 
mortgage or ! am\nt t is equal to #e    
p]c5t less ?an ! apprais$ value ( !     
dwell+ t is subject to ! mortgage2 &    
7,b7 provide t ! mortgagor1 ! e/ate ( ! 
mortgagor1 or ! heirs ( ! mortgagor %all
 n be liable = any diff]5ce betwe5 !    
am\nt ( indebt$ness "u ! mortgage & !   
am\nt recov]$ by ! mortgagee f--  4