jiayi-li23/proxann_data huggingface dataset:
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2011-05-05 00:00:00

Foreclosure Fraud and Homeowner Abuse Prevention Act of 2011 - Amends the Trust Indenture Act of 1939 to include within its purview mortgage-backed securities and their servicers. Imposes upon each servicer of a mortgage-backed security a fiduciary duty, not waivable by an investor, to protect the economic interests of the investors as a whole in an asset-backed security. Provides for removal of an indenture trustee that is a servicer of mortgage-backed securities if at least 50% of the investors petition the court for such removal. Authorizes amendment of a pooling and servicing agreement with respect to any mortgage-backed security without the consent of a majority of the security holders if at least 25% of them petition the court for such action. Defines such an agreement as any contract establishing the transaction rights and duties of the parties to a mortgage-backed securitization transaction. Amends the Securities Exchange Act of 1934 to direct the Securities and Exchange Commission (SEC) to promulgate specified requirements governing mortgage related securities. Amends the Truth In Lending Act (TILA) to prohibit the servicer of a securitized residential mortgage loan (or an affiliate) from owning or holding any interest in any other residential mortgage loan that is secured by a consensual security interest on the same dwelling or residential real property that is subject to the security interest that secures the securitized residential mortgage loan. Amends the Real Estate Settlement Procedures Act of 1974 (RESPA) to require all fees charged for a real estate settlement service in connection with a transaction involving a federally related mortgage loan, or incurred in connection with servicing such loan, to be reasonably related to the cost of providing the service. Sets forth specified prohibitions, restrictions, or requirements for: (1) use of subsidiaries and insourcing, (2) force-placed insurance, (3) disclosures related to insurance coverage information, and (4) loss mitigation. Amends TILA to: (1) prescribe the treatment of mistaken loan payments during the period that servicing of a loan is in transition, and (2) set limitations upon foreclosure proceedings. Amends the Fair Debt Collection Practices Act to: (1) bring within its purview a securitized residential mortgage loan and its servicer, and (2) subject to civil liability a debt collector who violates such Act in connection with a debt secured by a consumer's residence. Directs: (1) federal banking agencies to promulgate independent capital reserve standards for affiliates of mortgage-backed securities servicers, and (2) the SEC to promulgate regulations regarding treatment of delinquent loans.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2011-05-24 00:00:00

FHA Reform Act of 2011 - Authorizes the Secretary of Housing and Urban Development (HUD) to require specified mortgagees to indemnify HUD for payment of a mortgage insurance claim if the mortgage was not originated or underwritten in accordance with HUD requirements. Authorizes the Secretary to require a mortgagee to indemnify HUD for loss regardless of when an insurance claim is paid if fraud or misrepresentation was involved in connection with the mortgage origination or underwriting. Authorizes the Secretary to terminate approval of a mortgagee to originate or underwrite single family mortgages if the mortgagee's rate of early defaults and claims is excessive. Establishes within the Federal Housing Administration (FHA) a Deputy Assistant Secretary for Risk Management and Regulatory Affairs responsible for all matters relating to managing and mitigating the risk to HUD mortgage insurance funds and for ensuring the performance of HUD-insured mortgages. Abolishes the position of the FHA chief risk officer. Directs the Secretary to review and identify to Congress any mortgagees with a significant or rapid increase in early defaults and claims with respect to all mortgages they have originated on housing located in any particular geographic area or areas. Directs the Secretary to require mortgagees of HUD-insured single-family or multifamily housing to notify HUD if they terminate or discontinue mortgage purchases from another mortgagee based upon any determination, evidence, or report of fraud or material misrepresentation in connection with the origination of such mortgages. Prescribes conditions compelling the Secretary to review and reduce certain cash investment requirements (down payment requirements) binding upon mortgages or mortgagors. Revises eligibility requirements for mortgage insurance, including insurance for a home equity conversion mortgage (reverse mortgage) for elderly homeowners. Revises requirements for early mortgage default and foreclosure information collected by the Secretary for mortgage lender analysis. Authorizes the Secretary to reimburse servicers of certain HUD-insured residential mortgages for the costs of obtaining the services of specified independent third parties, including a HUD-approved housing counseling agency, to make in-person contact, at no charge, with mortgagors whose payments are 60 or more days past due, solely to provide specified information. Directs the Secretary, in providing reimbursements, to give priority to independent third parties serving mortgagors in areas experiencing a mortgage foreclosure rate and unemployment rate higher than the national average. Revises maximum mortgage amount limits for multifamily housing that includes elevator-type structures with sound standards of construction and design. Directs the Secretary to provide refunds of unearned premium charges paid at the time of insurance for mortgage insurance to or on behalf of mortgagors under certain mortgages on one-to-four family dwellings.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2011-06-02 00:00:00

Medical Debt Responsibility Act of 2011 - Amends the Fair Credit Reporting Act to prohibit a consumer reporting agency from making any report containing information related to a single fully paid or settled medical debt of $2,500 or less that had been characterized as delinquent, charged off, or in collection for credit reporting purposes, which, from the date of payment or settlement, antedates the report by more than 45 calendar days.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2011-06-02 00:00:00

Fannie Mae and Freddie Mac Investigative Commission Act - Establishes the Fannie Mae and Freddie Mac Investigative Commission to investigate and make recommendations to Congress regarding certain decisions of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (enterprises) that led to financial instability and federal conservatorship. Requires the Commission to analyze specified topics, including: (1) the role of the enterprises in expanding homeownership and in helping housing market recovery; (2) enterprise involvement in the development of faulty risk standards, accounting practices, and the creation and proliferation of the securitized mortgage instrument, and how such instrument affected the solvency of such enterprises; (3) the role of the respective boards of directors in voting for the policies relating to risk assessments, subprime mortgages, and the international securitization of mortgages; and (4) compensation, stock options, and financial benefits that accrued to executive officers and members of the boards of directors. Requires the enterprises and the Director of the Federal Housing Finance Agency to grant the Commission access to requested records and information.
Topic: Domestic Commerce — Consumer Finance
Subject: Education
Date: 2011-06-02 00:00:00

Promise Neighborhoods Act of 2011 - Directs the Secretary of Education to award competitive, matching Promise Neighborhood Partnership grants to nonprofit organizations that partner with a local educational agency (LEA) to implement a comprehensive continuum of supports and services that engage community partners in improving the academic achievement, health and social development, and college and career readiness of children that live in distressed neighborhoods with underperforming schools. Directs the Secretary to award competitive, matching Promise School grants to LEAs that partner with nonprofit organizations, and Indian or charter schools that partner with nonprofit organizations or institutions of higher education, to implement school-centered strategies and integrated student supports that leverage community partnerships to improve student achievement and development in schools with high concentrations of low-income children. Authorizes the Secretary to renew Promise Neighborhood Partnership grants and Promise School grants if the grantees demonstrate significant success in: (1) ensuring children's school readiness; (2) improving their academic outcomes; (3) increasing their college and career readiness; and (4) improving their health, mental health, and social and emotional well-being. Requires this Act's grantees to evaluate their programs continuously and improve them based on data and outcomes. Directs the Secretary to evaluate this Act's grant programs and disseminate research on best practices for improving the academic achievement of children living in our most distressed communities. Authorizes the Secretary to award matching planning grants to entities eligible for this Act's other grants.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2011-06-15 00:00:00

Home Inspection Act of 2011 - Directs the Bureau of Consumer Financial Protection (CFPB) of the Federal Reserve System to prescribe regulations to prohibit any lender from making any federally related mortgage loan under which a home inspection is conducted in connection with settlement of the mortgage loan unless the inspection is conducted by a home inspector licensed, certified, approved, or otherwise regulated by the inspector's home state or the state in which the real property is located. Amends the Real Estate Settlement Procedures Act of 1974, as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act, to direct the CFPB to include home inspection information in settlement forms.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2011-07-06 00:00:00

Transparency and Security in Mortgage Registration Act of 2011 - Amends the National Housing Act to prohibit the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) from purchasing, acquiring, newly lending on the security of, newly investing in securities consisting of, or otherwise newly dealing in any Mortgage Electronic Registration System, Inc. (MERS) mortgage or mortgages. Prohibits the Government National Mortgage Association (Ginnie Mae) from newly guaranteeing the payment of principal of or interest on any trust certificate or other security based or backed by a trust or pool that contains, or purchase or acquire, any MERS mortgage. Directs Fannie Mae, Freddie Mac, and Ginnie Mae to require all their current MERS mortgages to be assigned to the proper servicer, holder, or creditor. Directs the Secretary of Housing and Urban Development (HUD) to study: (1) the impacts of the lack of electronic records and uniform standards found in local land title recordation systems currently used in the various states; (2) any progress states have made in developing electronic land title recordation systems containing uniform standards; (3) the current oversight role of the federal government in the transfer and recordation of land titles; and (4) the feasibility of creating a federal land title recordation system for property transfers that would maintain all previous records of the land-property without invalidating, interfering with, or preempting state real property law governing the transfer and perfection of land title.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2011-07-06 00:00:00

GSE Legal Fee Reduction Act of 2011 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to require the Director of the Federal Housing Finance Agency (FHFA) to establish requirements prescribing the procedures and terms for advancement of amounts by a government-sponsored enterprise (GSE) for qualified indemnification payments for the benefit of any entity-affiliated party. (The GSEs the FHFA supervises are the Federal National Mortgage Association [Fannie Mae], the Federal Home Loan Mortgage Corporation [Freddie Mac], the Federal Home Loan Banks, and the Office of Finance.) Requires the Director to require any GSE obligated to make such a payment to propose criteria for determining whether the liability or legal expenses for which such payment is to be made are reasonable. Requires prompt review and approval or disapproval of such proposed criteria. Requires the Director to require each GSE to adopt bylaws requiring any entity-affiliated party accused of fraud, moral turpitude, or breach of fiduciary duty to post collateral, security, bonding or other assurances of repayment. Requires the Director to prohibit a GSE from using any Treasury funds to satisfy any settlement, judgment, order, or penalty. Requires settlement costs to be satisfied out of the sale of GSE assets. Requires the Director to prohibit a GSE from entering into any consent decree or settlement of a claim, proceeding, or action involving an entity-affiliated party that will result in any qualified indemnification payments exceeding an aggregate of $1 million before 30 days after notice of the decree or settlement to specified congressional committees.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2011-07-07 00:00:00

Fannie Mae and Freddie Mac Taxpayer Payback Act of 2011 - Amends the Federal National Mortgage Association Charter Act and the Federal Home Loan Mortgage Corporation Act to prohibit a reduction in the rate of dividends paid on the Variable Liquidation Preference Senior Preferred Stock of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) purchased by the Secretary of the Treasury.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2011-07-07 00:00:00

Removing GSEs Charters During Receivership Act of 2011 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to authorize the Federal Housing Finance Agency (FHFA), as a receiver of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government-sponsored enterprises or GSEs), to revoke the charters of such enterprises. Requires the FHFA to revoke the particular GSE's charter not later than the winbding up or termination of the limited-life regulated entity established with respect to such GSE Repeals the current prohibition against revocation, annulment, or termination of a GSE's charter by the receiver.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2011-07-07 00:00:00

Housing Trust Fund Elimination Act of 2011 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to abolish the HOPE Reserve Fund, Housing Trust Fund, and Capital Magnet Fund and make available any amounts in such funds to the Secretary of the Treasury for use in reducing the federal budget deficit. Repeals requirements that the Federal Loan Mortgage Corporation (Freddie Mac) and the Federal National Mortgage Association (Fannie Mae) make allocations for the Housing Trust Fund and the Capital Magnet Fund.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2011-07-07 00:00:00

RESPA Home Warranty Clarification Act of 2012 - Amends the Real Estate Settlement Procedures Act of 1974 (RESPA) to state that no prohibited kickback or unearned fee incident to a real estate settlement service involving a federally related mortgage loan shall be deemed to include, or be deemed to have included, homeowner warranties or similar residential service contracts for the repair or replacement of home system components or home appliances. Requires any person that pays another person not employed by the person for selling, advertising, marketing, or processing, or performing an inspection in connection with, a homeowner warranty or similar residential service contract for the repair or replacement of home system components or home appliances, to include a specified statement reflecting this Act in any such warranty or contract incident to a transaction involving the origination of a federally related mortgage loan. Requires any person who has contracted to receive payment from a provider of such services for recommending the purchase of a home warranty or similar residential service contract, and is not an employee of such provider, to give the potential purchaser, upon first recommending such a purchase, a written notice informing the individual that such person has received or will receive compensation from the warranty company for the residential service. Allows the individual to opt out of purchasing such a warranty or service contract, or to purchase it from another provider.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2011-07-08 00:00:00

Cap the GSE Bailout Act of 2011 - Limits the funds that may be provided to the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), or any Federal Home Loan Bank (government sponsored enterprises or GSEs) as part of the Amended and Restated Senior Preferred Stock Purchase Agreement to the greater of: (1) $200 billion; or (2) $200 billion plus the cumulative total of deficiency amounts of the GSE for calendar quarters in calendar 2010, 2011, and 2012, less any surplus amount as of December 31, 2012.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2011-07-13 00:00:00

Declares that, for mortgages originated during FY2012 and FY2013, if the dollar amount limit on the maximum original principal obligation of a mortgage that may be purchased by the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac) for any size residence for any area is less than the limit in effect for 2008 under the Economic Stimulus Act of 2008, the maximum dollar amount limit on the principal obligation of such a mortgage shall be such maximum limit in effect for 2008 (in effect, an increase in the limit on the maximum original mortgage principal obligation from the FY2012 or FY2013 level to the 2008 level). Makes a similar declaration (and mortgage principal limit increase), for mortgages for which the mortgagee issues credit approval during FY2012 and FY2013, about the dollar amount limit on the maximum original principal obligation of a mortgage that may be insured by the Secretary of Housing and Urban Development (HUD).
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2011-07-13 00:00:00

Preserving Consumer's Mortgage Origination Choices Act of 2011 - Amends the Truth in Lending Act (TILA), as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act, to provide that no provision of TILA shall be construed as prohibiting a mortgage broker from compensating a mortgage originator based on the principal amount of the loan, when compensation is paid directly or indirectly to the mortgage broker by the consumer in connection with such transaction. Authorizes a mortgage originator, when requested by a borrower as the originator is producing a mortgage, to forfeit or contribute toward bona fide third party expenses or origination fees up to 30% of earned compensation to avoid making a high-cost mortgage to a consumer, to make technical corrections, or for any other reason that results in a lower cost to the consumer than if such forfeiture or contribution did not take place.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2011-07-20 00:00:00

PACE Assessment Protection Act of 2011 - Requires the Director of the Federal Housing Agency (FHA) to direct the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to issue guidance providing that the levy of a PACE (property assessed clean energy) assessment and the creation of a PACE lien do not constitute a default on any loan secured by one of its uniform instruments, and do not trigger the exercise of remedies with respect to any provision of the instrument, if the PACE assessment and the PACE lien meet specified requirements. Lists as PACE improvements any qualified clean energy improvements, energy conservation and efficiency improvements, and water conservation and efficiency improvements. Prohibits the FHA Director, the Comptroller of the Currency, Fannie Mae, Freddie Mac, the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Board of Governors of the Federal Reserve System, and all federal agencies and entities chartered or otherwise established under federal law from discriminating in any manner against state or local governments implementing or participating in a PACE program, or against any property that is obligated to pay a PACE assessment or is subject to a PACE lien. Specifies requirements a PACE program, and any related PACE assessment and PACE lien, must meet to be entitled to the protections of this Act. Details obligations of property owners with respect to PACE assessments, and requires the local government to disclose to the participating property owner the costs and risk associated with participating in the PACE program. Prescribes requirements for: (1) non-residential properties; and (2) qualifying PACE improvements, qualifying contractors, and financing terms for residential properties. Limits the total amount of PACE assessments for a property to 10% of its estimated value. Requires the property owner to have equity in the property of at least 15%.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2011-07-30 00:00:00

Limiting Investor and Homeowner Loss in Foreclosure Act of 2011 - Authorizes a bankruptcy court to establish a loss mitigation program for the negotiation of consensual alternatives to avoid foreclosure between an individual debtor and the holder of a claim secured by a security interest in the debtor's principal residence.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2011-10-03 00:00:00

Mortgage Credit Availability Act of 2011 - Requires the Director of the Federal Housing Finance Agency, for 2012-2014, to determine for each county witha population exceeding one million individuals whether a significant share of the county population resides, as of the commencement of each such year, in sub-areas of the county for which the median price for a one-, two-, three-, or four-family residence is more than three times the national median price for such a residence. Authorizes the Director, with respect to any such county, to increase the limitation on the maximum original principal obligation of a mortgage that may be purchased by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) for any size or sizes of residences for a contiguous, reasonably compact set of sub-areas within the county for which the median price exceeds three times the national price. Applies to an entire Metropolitan Statistical Area (MSA) any such increase in limitation if the county for which the limitation is increased is located in that MSA.