the mortgagee. Each such report shall include data 
on loss mitigation activities disaggregated according 
to the categories specified in each of the subpara-
graphs of paragraphs (5), (6), and (7) of subsection 
(c), any loss mitigation activities not covered by such 
categories, the number of loans receiving loss mitiga-
tion that have become performing loans, the number 
of loans receiving loss mitigation that have pro-
ceeded to foreclosure, the total number of fore-
closures initiated during the reporting period, and 
such other information as the Comptroller, the Di-
rector, or the Board of Governors determines to be 
relevant. 
‘‘(2) COMPILATION OF AGGREGATE DATA.— 
‘‘(A) COMMENCEMENT.—Beginning with 
data for calendar year 2012, the Comptroller of 
the Currency shall, in consultation with the Di-
rector and the Chairman of the Board of Gov-
ernors of the Federal Reserve System, compile 
for each year, for each primary metropolitan 
statistical area, metropolitan statistical area, 
and consolidated metropolitan statistical area 
that is not comprised of designated primary 
metropolitan statistical areas, aggregate data 
by census tract for each mortgagee or servicer 
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that is required to disclose data under this sub-
section. 
‘‘(B) SCOPE.—Each such report shall in-
clude loan-level disclosures of outstanding loans 
with information related to— 
‘‘(i) the location of the security prop-
erty; 
‘‘(ii) the loan amount; 
‘‘(iii) the value of such security prop-
erty; 
‘‘(iv) the age of borrower or mort-
gagee; 
‘‘(v) the date on which such loan was 
originated; 
‘‘(vi) the type of entity owning such 
loan; 
‘‘(vii) the performance status of such 
loan; 
‘‘(viii) the monetary losses incurred by 
the investor in such loan in connection 
with the termination of such loan; 
‘‘(ix) the loss mitigation activities pro-
vided in reference to such loan according 
to the categories specified in each of the 
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subparagraphs of paragraphs (5), (6), and 
(7) of subsection (c); 
‘‘(x) the loss mitigation activities pro-
vided in reference to such loan that are not 
covered by such categories; 
‘‘(xi) the magnitude of such modifica-
tion or loss mitigation activities; 
‘‘(xii) the dates of consideration, ap-
proval, or rejection of such loss mitigation 
activities; 
‘‘(xiii) the reasons for such rejection; 
and 
‘‘(xiv) any other relevant information. 
Such reports shall also include information 
identical to that required upon loan origination 
by the Home Mortgage Disclosure Act of 1975. 
‘‘(C) DATA TABLES.—The Comptroller, in 
consultation with the Director and the Chair-
man of the Board of Governors of the Federal 
Reserve System, shall also produce tables indi-
cating for each primary metropolitan statistical 
area, metropolitan statistical area, and consoli-
dated metropolitan statistical area that is not 
comprised of designated primary metropolitan 
statistical areas, aggregate loss mitigation pat-
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terns for various categories of census tracts 
grouped according to location, age of housing 
stock, income level, and racial and ethnic char-
acteristics. 
‘‘(D) AVAILABILITY TO PUBLIC.—The data 
and tables required pursuant to this paragraph 
shall be made available to the public not later 
than 6 months after such data is reported pur-
suant to subparagraph (A). 
‘‘(n) DEFINITIONS.—For purposes of this section, the 
following definitions shall apply: 
‘‘(1) COVERED
FEDERALLY
RELATED
MORT-
GAGE
LOAN.—The term ‘covered federally related 
mortgage loan’ means a federally related mortgage 
loan described in subsection (a). 
‘‘(2) DIRECTOR.—The term ‘Director’ means 
the Director of the Bureau of Consumer Financial 
Protection of the Federal Reserve System. 
‘‘(3) 
MORTGAGEE.—The 
term 
‘mortgagee’ 
means, with respect to a federally related mortgage 
loan, the original lender under the loan and any af-
filiates, agents, subsidiaries, successors, or assignees 
of such lender, and any subsequent purchaser, trust-
ee, or transferee of the loan or credit instrument 
issued by such lender. 
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‘‘(4) SERVICER.—The term ‘servicer’ has the 
meaning given such term in section 6(i). 
‘‘(5) SUBORDINATE LIEN.—The term ‘subordi-
nate lien’ means, with respect to a covered federally 
related mortgage loan, a lien that— 
‘‘(A) is an interest on the same property 
that is subject to the lien that secures the cov-
ered federally related mortgage loan; and 
‘‘(B) has subordinate priority to the lien 
that secures the covered federally related mort-
gage loan. 
‘‘(o) REPORT TO CONGRESS.—Not later than the ex-
piration of the 12-month period beginning upon the date 
of the enactment of the Foreclosure Prevention and Sound 
Mortgage Servicing Act of 2011, and of each consecutive 
12-month period thereafter, the Comptroller of the Cur-
rency, in consultation with the Director and the Chairman 
of the Board of Governors of the Federal Reserve System, 
shall provide a report to the Congress on the extent of 
compliance by mortgagees and servicers with the require-
ments of this section and paragraphs (4) through (7) of 
section 6(e). 
‘‘(p) COORDINATION WITH STATE LAW.— 
‘‘(1) IN GENERAL.—No provision of this section 
shall be construed as annulling, altering, or affecting 
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the laws of any State relating to deferment of fore-
closures, except to the extent that such State laws 
are inconsistent with the provisions of this section, 
and then only to the extent of such inconsistency. 
‘‘(2) STANDARD FOR INCONSISTENCY.—A State 
law shall not be considered to be inconsistent with 
this section if the protection such State law affords 
any consumer is greater than the protection afforded 
by this section. 
‘‘(q) RULE OF CONSTRUCTION.—Nothing in this sec-
tion may be construed to prohibit any mortgagee or 
servicer of a covered federally related mortgage loan from 
providing a loan modification that exceeds the standards 
established by the regulations issued pursuant to sub-
section (r). 
‘‘(r) REGULATIONS.—The Director shall issue regula-
tions to carry out this section. Such regulations shall be 
issued not later than the expiration of the 180-day period 
beginning upon the date of the enactment of the Fore-
closure Prevention and Sound Mortgage Servicing Act of 
2011.’’. 
(b) DUTY OF LOAN SERVICER TO RESPOND TO BOR-
ROWER INQUIRIES.—Section 6(e) of the Real Estate Set-
tlement Procedures Act of 1974 (12 U.S.C. 2605(e)) is 
amended— 
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srobinson on DSKHWCL6B1PROD with BILLS
(1) in paragraph (1), by striking subparagraph 
(A) and inserting the following: 
‘‘(A) IN GENERAL.—If any servicer of a 
federally related mortgage loan receives a quali-
fied written request from the borrower, an 
agent of the borrower, or a housing counseling 
agency approved by the Secretary of Housing 
and Urban Development for information relat-
ing to the servicing of such loan (including doc-
uments executed at the time the loan was con-
summated or other documents related to the 
loan), the servicer shall take action with respect 
to such inquiry as specified in paragraph (2).’’; 
(2) in paragraph (2), in the matter preceding 
subparagraph (A), by striking ‘‘60 days’’ and all 
that follows through ‘‘any borrower’’ and inserting 
the following: ‘‘14 calendar days after the receipt 
from any borrower, borrower’s agent, or housing 
counseling agency approved by the Secretary of 
Housing and Urban Development’’; and 
(3) in paragraph (3), by striking ‘‘60-day’’ and 
inserting ‘‘14-day’’. 
(c) COMPREHENSIVE DISCLOSURE AND FAIR PROC-
ESSING
OF QUALIFIED WRITTEN REQUESTS.—Section 
6(e) of the Real Estate Settlement Procedures Act of 1974 
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(12 U.S.C. 2605(e)) is amended by adding at the end the 
following new paragraphs: 
‘‘(4) PROVISION OF INFORMATION REGARDING 
MORTGAGE.—The servicer of a covered federally re-
lated mortgage loan (as such term is defined in sec-
tion 6A(n)) shall have available at all times the fol-
lowing information, which shall be provided to the 
borrower or borrower’s agent in response to a quali-
fied written request by the borrower submitted in ac-
cordance with the deadlines set forth in paragraph 
(1)(A): 
‘‘(A) Whether the account relating to such 
loan is current, or if not, the date the account 
went into default. 
‘‘(B) The current balance due on the loan, 
including the amount of principal due, an 
itemization of all fees due, an explanation of the 
escrow balance, and whether there are any es-
crow deficiencies or shortages. 
‘‘(C) A full payment history that shows, in 
a clear and easily understandable manner, all of 
the activity on the loan since the origination of 
the loan, including the escrow account, and the 
application of payments made under the loan. 
‘‘(D) The initial terms of the loan. 
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‘‘(E) A copy of the original note and secu-
rity instrument. 
‘‘(F) Identification of the owner of the 
mortgage note and any investors in the note. 
‘‘(G) Any documents that limit, explain, or 
modify the loss mitigation activities offered by 
the servicer. 
‘‘(H) Any other information requested by 
the borrower that is reasonably related to loss 
mitigation activities. 
‘‘(I) Documents executed at the time the 
loan was consummated or other documents re-
lated to the loan. 
‘‘(5) PROHIBITION OF ‘WRONG DOOR’ ACTIONS 
FOR QUALIFIED WRITTEN REQUESTS.—All written 
communications from the mortgagee or servicer of a 
federally related mortgage loan to the borrower shall 
include the address for receipt and handling of 
qualified written requests. Any qualified written re-
quest received by the mortgagee or servicer shall be 
valid notwithstanding receipt at any address other 
than that designated by the mortgagee or servicer 
for receipt and handling of such requests. 
‘‘(6) PROHIBITION OF FEE FOR RESPONSE TO 
QUALIFIED WRITTEN REQUESTS.—A mortgagee or 
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servicer for a federally related mortgage loan may 
not impose any fee for, or on account of, the prepa-
ration and submission by such mortgagee or servicer 
of any response or statement required by this sub-
section. 
‘‘(7) PROHIBITION OF FORECLOSURE PENDING 
DISCLOSURE.—In the case of a covered federally re-
lated mortgage loan (as such term is defined in sec-
tion 6A(n)), no foreclosure proceeding may be initi-
ated or continued against the borrower or the prin-
cipal residence of the borrower during any period in 
which a qualified written request under this sub-
section is pending and the mortgagee or servicer has 
not complied with the requirements of this sub-
section regarding the request.’’. 
(d) DAMAGES AND COSTS.—Section 6(f) of the Real 
Estate Settlement Procedures Act of 1974 (12 U.S.C. 
2605(f)) is amended— 
(1) in the matter preceding paragraph (1), by 
inserting ‘‘or of section 6A’’ after ‘‘this section’’; 
(2) in paragraphs (1)(B) and (2)(B)— 
(A) by striking ‘‘a pattern or practice’’ 
each place such term appears; and 
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(B) by striking ‘‘$1,000’’ each place such 
term appears and inserting ‘‘$2,000 for each 
violation’’; and 
(3) 
in 
paragraph 
(2)(B)(i), 
by 
striking 
‘‘$500,000’’ and inserting ‘‘$1,000,000’’. 
(e) CONFORMING AMENDMENT.—Section 17 of the 
Real Estate Settlement Procedures Act of 1974 (12 
U.S.C. 2615) is amended by striking ‘‘Nothing’’ and in-
serting ‘‘Except as provided in sections 6(e)(7) and 6A, 
nothing’’. 
SEC. 3. DUTIES OF LENDERS AND LOAN SERVICERS. 
The Truth in Lending Act is amended by inserting 
before section 130 (15 U.S.C. 1640) the following new sec-
tion: 
‘‘SEC. 129I. DUTIES OF LENDERS AND LOAN SERVICERS. 
‘‘(a) STANDARD OF CARE.— 
‘‘(1) AGENCY RELATIONSHIP.—In the case of 
any home loan serviced by a loan servicer on behalf 
of a lender, the loan servicer shall be deemed an 
agent of that lender, and shall be subject to all re-
quirements of agents otherwise applicable under 
Federal or State law. 
‘‘(2) FAIR
DEALING.—Each lender and loan 
servicer shall, in addition to the duties imposed by 
otherwise applicable provisions of Federal or State 
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law, with respect to each home mortgage loan, in-
cluding any home mortgage loan in default or in 
which the homeowner has filed for bankruptcy— 
‘‘(A) act with reasonable skill, care, dili-
gence, and in accordance with the highest 
standards; and 
‘‘(B) act in good faith and with fair deal-
ing in any transaction, practice, or course of 
business associated with the home mortgage 
loan. 
‘‘(3) TRAINING AND COMPETENCY.—Each lend-
er and loan servicer shall institute training, proce-
dures, and standards to ensure that borrowers are 
treated fairly and competently. 
‘‘(b) RULES FOR ASSESSMENT OF FEE.— 
‘‘(1) IN
GENERAL.—No home mortgage loan 
contract may require, nor may any lender or loan 
servicer assess or receive, any fees or charges other 
than interest, late fees as specifically authorized in 
this section, or fees assessed for nonsufficient funds, 
and 
charges 
allowed 
pursuant 
to 
subsection 
(h)(1)(B), until the home mortgage loan is the sub-
ject of a foreclosure proceeding and the debt on such 
loan has been accelerated. 
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‘‘(2) FEE LIMITATIONS.—Any permissible fee or 
charge described under paragraph (1) shall be— 
‘‘(A) reasonable; 
‘‘(B) for services actually rendered; and 
‘‘(C) specifically authorized by the terms of 
the home mortgage loan contract and State law. 
‘‘(3) ASSESSMENT AND DISCLOSURE.— 
‘‘(A) IN GENERAL.—Any permissible fee or 
charge described under paragraph (1) shall 
be— 
‘‘(i) assessed not later than 30 days 
after the date on which the fee was ac-
crued; and 
‘‘(ii) explained clearly and conspicu-
ously in the next monthly accounting state-
ment provided to the borrower designated 
in the home mortgage loan contract. 
‘‘(B) FAILURE TO COMPLY.—Failure by a 
lender or loan servicer to comply with the re-
quirements set forth under subparagraph (A) 
shall result in the waiver of the fee. 
‘‘(4) REQUIRED STATEMENTS.—Each month a 
lender or loan servicer shall provide to each borrower 
designated in a home mortgage loan contract en-
tered into by such lender or loan servicer a periodic 
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statement that clearly and in plain English ex-
plains— 
‘‘(A) the application of the prior month’s 
payment by the borrower, including the alloca-
tion of the payment to interest, principal, es-
crow, and fees; 
‘‘(B) the status of the escrow account held 
on behalf of the borrower, including the pay-
ments into and from the escrow account; and 
‘‘(C) the assessment of fees accruing in the 
previous month, including the reason that such 
fee accrued and the date such fee accrued. 
‘‘(c) MAXIMUM ALLOWABLE LATE FEES CHARGED 
AFTER LOAN CLOSING.— 
‘‘(1) IN GENERAL.—No lender or loan servicer 
may impose a charge or fee for late payment of any 
amount due on a home mortgage loan— 
‘‘(A) unless the home mortgage loan con-
tract specifically authorizes the charge or fee; 
‘‘(B) in an amount in excess of 5 percent 
of the amount of the payment past due; 
‘‘(C) before the end of the 15-day period 
after the date the payment is due, or in the 
case of a home mortgage loan on which interest 
on each installment is paid in advance, before 
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the end of the 30-day period after the date the 
payment is due; or 
‘‘(D) more than once with respect to a sin-
gle late payment. 
‘‘(2) RULE OF CONSTRUCTION.—For purposes 
of this subsection, payments on any amount due on 
a home mortgage loan shall be applied first to cur-
rent installments, then to delinquent payments, and 
then to delinquency charges. 
‘‘(3) COORDINATION WITH SUBSEQUENT LATE 
FEES.—If a home loan mortgage payment is other-
wise a full payment for the applicable period and is 
paid on its due date or within an applicable grace 
period, and the only delinquency or insufficiency of 
payment is attributable to a late fee or delinquency 
charge assessed on an earlier payment, no late fee 
or delinquency charge may be imposed on such pay-
ment. 
‘‘(d) PAYOFF STATEMENTS.— 
‘‘(1) PROHIBITION ON FEES.— 
‘‘(A) IN
GENERAL.—No lender or loan 
servicer (or any third party acting on behalf of 
such lender or loan servicer) may charge a fee 
for transmitting to any borrower the amount 
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due to pay off the outstanding balance on the 
home mortgage loan of such borrower. 
‘‘(B) EXCEPTION.—After a lender or loan 
servicer (or any third party acting on behalf of 
such lender or loan servicer) has provided the 
information described in subparagraph (A) 
without charge on 4 occasions during a cal-
endar year, the lender or loan servicer (or any 
third party acting on behalf of such lender or 
loan servicer) may thereafter charge a reason-
able fee for providing such information during 
the remainder of the calendar year. 
‘‘(2) TIMING.—The information described in 
subparagraph (A) shall be provided to the borrower 
within a reasonable period of time but in any event 
not more than 5 business days after the receipt of 
the request by the lender or loan servicer. 
‘‘(e) CIVIL LIABILITY.— 
‘‘(1) IN GENERAL.—Any lender or loan servicer 
who fails to comply with any requirement of this sec-
tion with respect to a borrower designated in a home 
mortgage loan contract, is liable to such borrower in 
an amount equal to the sum of— 
‘‘(A) any actual damages sustained by 
such borrower as a result of the failure; 
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‘‘(B) an amount not less than $5,000; or 
‘‘(C) in the case of any successful action to 
enforce the foregoing liability the costs of the 
action, together with a reasonable attorney’s fee 
as determined by the court. 
‘‘(2) JURISDICTION.—Any action by a borrower 
for a failure to comply with the requirements of this 
section may be brought in any United States district 
court, or in any other court of competent jurisdic-
tion, not later than 3 years from the date of the oc-
currence of such violation. This subsection does not 
bar a person from asserting a violation of this sec-
tion in an action by a lender or loan servicer to col-
lect the debt owed on a home mortgage loan, or fore-
close upon the home securing a home mortgage loan, 
or to stop a foreclosure upon that home, which was 
brought more than 3 years after the date of the oc-
currence of the violation as a matter of defense by 
recoupment or set-off in such action. An action 
under this section does not create an independent 
basis for removal of an action to a United States 
district court. 
‘‘(3) STATE
ATTORNEY
GENERAL
ENFORCE-
MENT.—An action to enforce a violation of this sec-
tion may also be brought by the appropriate State 
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