II 

112TH CONGRESS 

2D SESSION S. 3589 

To require the Comptroller of the Currency to establish a pilot program 

to facilitate communication between borrowers and servicers. 

IN THE SENATE OF THE UNITED STATES 

SEPTEMBER 20, 2012 

Mr. REED introduced the following bill; which was read twice and referred to 

the Committee on Banking, Housing, and Urban Affairs 

A BILL 

To require the Comptroller of the Currency to establish a 

pilot program to facilitate communication between borrowers and servicers. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Mortgage Modification 

5 Outreach Act’’. 

6 SEC. 2. PILOT PROGRAM REGARDING LOAN MODIFICATION 

7 AND COMMUNICATION. 

8 (a) PROGRAM IMPLEMENTATION.—Not later than 

9 180 days after the date of enactment of this Act, the 

10 Comptroller shall, subject to such conditions and proceVerDate Mar 15 2010 06:55 Sep 26, 2012 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S3589.IS S3589

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1 dures as the Comptroller shall establish, implement a pilot 

2 program to determine the feasibility of requiring residen3 tial mortgage loan servicers to use their affiliated national 

4 bank consumer banking branches to provide to any of the 

5 servicer’s residential mortgage borrowers applying for a 

6 loan modification the information described in subsection 

7 (b). 

8 (b) INFORMATION FOR BORROWERS.—Each borrower 

9 described in subsection (a) shall, upon request by the bor10 rower at a national bank consumer banking branch affili11 ated with the borrower’s servicer, receive, within a com12 mercially reasonable period of time but no later than 3 

13 business days after the date of the request, at such 

14 branch— 

15 (1) all relevant contact information for their 

16 single point of contact in connection with a loan 

17 modification application for purposes of the pilot 

18 program under subsection (a); and 

19 (2) the address of a nearby location, within a 

20 reasonable distance of the borrower’s current ad21 dress, where the borrower may copy, fax, scan, 

22 transmit by overnight delivery, or mail or email doc23 uments to the borrower’s customer service represent24 ative or the borrower’s single point of contact at the 

25 servicer. 


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1 (c) DURATION AND EXTENSION.— 

2 (1) IN GENERAL.—Subject to paragraph (2), 

3 the program authorized by this Act shall terminate 

4 18 months after the date on which the program is 

5 implemented. 

6 (2) EXTENSION.—The Comptroller may extend 

7 the program authorized by this Act for an additional 

8 12 months. 

9 SEC. 3. REPORT TO CONGRESS. 

10 Not later than 270 days after the date of enactment 

11 of this Act, and thereafter on a quarterly basis until the 

12 termination of the pilot program, the Comptroller shall 

13 submit a report to Congress on the findings of the Comp14 troller regarding the pilot program which shall include a 

15 finding of whether the pilot program should be extended 

16 beyond a pilot. 

17 SEC. 4. DEFINITIONS. 

18 In this Act— 

19 (1) the term ‘‘Comptroller’’ means the Comp20 troller of the Currency; and 

21 (2) the term ‘‘single point of contact’’ means an 

22 employee of the servicer who— 

23 (A) is easily and reliably accessible to the 

24 borrower subject to reasonable employee safety 

25 protocols; 


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1 (B) shall be knowledgeable about the cur2 rent situation and status of the borrower; and 

3 (C) shall provide information to the bor4 rower throughout the loss mitigation, loan 

5 modification, or foreclosure process, as applica6 ble. 

Æ 


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