S.3589 - Mortgage Modification Outreach Act

A bill to require the Comptroller of the Currency to establish a pilot program to facilitate communication between borrowers and servicers. view all titles (2)

All Bill Titles

  • Official: A bill to require the Comptroller of the Currency to establish a pilot program to facilitate communication between borrowers and servicers. as introduced.
  • Short: Mortgage Modification Outreach Act as introduced.

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Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
09/20/12
 
 
 
 
 
 
 

Official Summary

Mortgage Modification Outreach Act - Requires the Comptroller of the Currency to implement a pilot program to determine the feasibility of requiring residential mortgage loan servicers to use their affiliated national bank consumer banking branches to provide certain information to any of t

Official Summary

Mortgage Modification Outreach Act - Requires the Comptroller of the Currency to implement a pilot program to determine the feasibility of requiring residential mortgage loan servicers to use their affiliated national bank consumer banking branches to provide certain information to any of the servicer's residential mortgage borrowers applying for a loan modification. Specifies information relating to:
(1) all relevant contact information for the borrower's single point of contact in connection with a loan modification application; and
(2) the address of a nearby location where the borrower may copy, fax, scan, transmit by overnight delivery, or mail or email documents to the borrower's customer service representative or the borrower's single point of contact at the servicer.

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