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H.R.3666 - Foreclosure Prevention and Homeownership Protection Act

To establish a bipartisan commission to perform a comprehensive examination of the current foreclosure and mortgage lending crisis and to make recommendations for legislative and regulatory changes to address such problems. view all titles (2)

All Bill Titles

  • Short: Foreclosure Prevention and Homeownership Protection Act as introduced.
  • Official: To establish a bipartisan commission to perform a comprehensive examination of the current foreclosure and mortgage lending crisis and to make recommendations for legislative and regulatory changes to address such problems. as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
09/25/07
 
 
 
 
 
 
 

Official Summary

Foreclosure Prevention and Homeownership Protection Act - Establishes the Commission to Preserve the American Dream (Commission) to study and report to Congress and the President on: (1) the adequacy of the existing legal and regulatory framework to address the current foreclosure and mortg

Official Summary

Foreclosure Prevention and Homeownership Protection Act - Establishes the Commission to Preserve the American Dream (Commission) to study and report to Congress and the President on:
(1) the adequacy of the existing legal and regulatory framework to address the current foreclosure and mortgage lending crisis and to prevent similar crises from happening in the future;
(2) the role of the states versus the role of the federal government in ensuring homeowners are protected against unscrupulous lending practices; and
(3) the effects of this crisis on the domestic and world economies. Requires the Commission to make recommendations regarding:
(1) ways to assist homeowners currently in danger of losing their homes;
(2) ways to encourage lenders and borrowers to work together to prevent foreclosure; and
(3) legislative and regulatory changes to protect homeowners against unscrupulous lending practices and strengthen accountability for those involved in the mortgage lending market.

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