I 
115TH CONGRESS 
2D SESSION 
H. R. 5237 
To require the holder of a subordinate lien on the property that secures 
a federally related mortgage loan, upon a request by the homeowner 
for a short sale, to make a timely decision whether to allow the sale. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 9, 2018 
Mr. MCNERNEY (for himself and Mr. JONES) introduced the following bill; 
which was referred to the Committee on Financial Services 
A BILL 
To require the holder of a subordinate lien on the property 
that secures a federally related mortgage loan, upon a 
request by the homeowner for a short sale, to make 
a timely decision whether to allow the sale. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Fast Help For Home-
owners Act’’. 
SEC. 2. REQUIREMENT FOR PROMPT DECISION. 
(a) IN GENERAL.—Chapter 2 of the Truth in Lend-
ing Act (15 U.S.C. 1631 et seq.) is amended by inserting 
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before section 130 (15 U.S.C. 1640) the following new sec-
tion: 
‘‘SEC. 129I. PROMPT DECISIONMAKING REGARDING SHORT 
SALE. 
‘‘(a) IN GENERAL.—Not later than the end of the 
10-calendar-day period beginning on the date of receipt 
of a written request from a mortgagor of a federally re-
lated mortgage loan that meets the requirements of sub-
section (c), a servicer shall— 
‘‘(1) notify in writing each holder of a subordi-
nate lien on the residential real property that se-
cures such loan of such request; and 
‘‘(2) submit to each such holder a copy of such 
request. 
‘‘(b) TIMELY RESPONSE TO SERVICER NOTIFICATION 
REQUIRED.— 
‘‘(1) IN GENERAL.— 
‘‘(A) TIMELY RESPONSE REQUIRED.—Ex-
cept as provided in subsection (d) and notwith-
standing any other provision of law or of any 
contract, including a contract between a 
servicer of a federally related mortgage loan 
and a securitization vehicle or other investment 
vehicle, a holder of a subordinate lien that is 
notified by a servicer under subsection (a) shall 
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respond in writing to such servicer not later 
than the end of the 30-calendar-day period be-
ginning on the date of receipt of such notifica-
tion. 
‘‘(B) FAILURE TO RESPOND.—If the hold-
er of a subordinate lien that is notified by a 
servicer under subsection (a) does not respond 
within the 30-calendar-day period described in 
subparagraph (A), the request from a mort-
gagor described in subsection (a) shall be con-
sidered to have been approved by the such hold-
er. 
‘‘(2) CONTENT.—A written response by such 
holder under subsection (a) shall specify a decision 
on whether the request described in such subsection 
has been denied, approved, or that such request has 
been approved subject to specified changes. 
‘‘(c) MORTGAGOR SUBMISSION.—Subsection (a) shall 
apply in any case in which the mortgagor of a federally 
related mortgage loan submits to the servicer thereof— 
‘‘(1) a written offer for a short sale of the 
dwelling or residential real property that is subject 
to a mortgage, deed of trust, or other security inter-
est that secures the mortgage loan; and 
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