jiayi-li23/proxann_data huggingface dataset:
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2011-10-06 00:00:00

Family Foreclosure Rescue Corporation Act - Instructs the Secretary of the Treasury to establish the Family Foreclosure Rescue Corporation to acquire, via the sale of bonds, home mortgages, and other obligations and liens secured by real estate which are currently in default or at foreseeable risk of default.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2011-10-12 00:00:00

Short Sale Transparency Act of 2011 - Directs the Director of the Federal Housing Finance Agency to require the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), in any case in which one or the other denies the purchase of a residential mortgage loan made to finance the purchase, under a short sale, of a covered dwelling on the basis that the purchase price involved is insufficient, to disclose promptly to the prospective seller the amount by which the purchase price was less than the minimum purchase price sufficient for approval of the purchase of such mortgage.
Topic: Domestic Commerce — Consumer Finance
Subject: Taxation
Date: 2011-11-03 00:00:00

Creating Homeownership Opportunity Act of 2011 - Amends the Internal Revenue Code to establish tax-exempt housing equity savings accounts to assist individual taxpayers under the age of 55 in paying the costs of acquiring, constructing, or reconstructing a principal residence. Allows: (1) a deduction from gross income for cash contributions to such accounts for the lesser of $10,000 or the compensation includible in the taxpayer's gross income for a taxable year, (2) an exclusion from gross income of amounts distributed from such accounts that are used by an account beneficiary to purchase a principal residence or make payments to such beneficiary's individual retirement account (IRA), and (3) a tax-free rollover into an IRA if an account beneficiary reaches age 55 or has maintained an account for 20 years without purchasing a residence.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2011-11-30 00:00:00

Freddie Mac Debt Reduction Act of 2011 - Amends the Housing and Community Development Act of 1992 with respect to the exercise of options on mortgage-backed securities by the Federal Home Loan Mortgage Corporation (Freddie Mac) or, during the term of any conservatorship or receivership of Freddie Mac, the Director of the Federal Housing Finance Agency (FHFA). Directs Freddie Mac (or FHFA as its conservator or receiver) to exercise any option on a mortgage-backed security with a clean-up call option Freddie Mac has issued if the residual holder of the security is willing to share at least 50% of any excess proceeds from the exercise of the option with FHFA as conservator or receiver, which would thereby reduce the liability of taxpayers. (A clean-up call option allows a transferor of assets, in this case mortgage assets, to buy them back after the outstanding asset values have been reduced substantially.) Defines mortgage-backed security with a clean-up call option as any mortgage-backed security under which there is an option or right to redeem all remaining classes of the security whenever the aggregate remaining principal of the mortgage would be less than the optional redemption or clean-up call percentage. Directs the Director to prohibit Freddie Mac and the Federal National Mortgage Association (Fannie Mae) from issuing any mortgage-backed security with a clean-up call option. Directs the Director to ensure that any excess proceeds received as a result of the exercise of any clean-up call options be used only to reduce the budget deficit of the federal government.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2011-12-06 00:00:00

Fairness in Foreclosures Act of 2011 - Declares that no action for a deficiency judgment arising from an obligation under a residential mortgage may be brought except in accordance with this Act. Declares that no such deficiency judgment may be issued unless the court has determined that the foreclosure sale for the property securing repayment was conducted in accordance with specified requirements. Specifies a formula for determining the total amount a plaintiff may recover in such a deficiency judgment. Declares that no action for a deficiency judgment may be brought if the (nonrecourse) mortgage terms prohibit recovery after: (1) the residential property securing repayment of such obligation is sold at foreclosure sale, or (2) the mortgage is foreclosed in the manner provided under the law of the state in which the property is located. Declares that if the mortgagor is a member of a low-income family: (1) no action may be brought for a deficiency judgment; and (2) a deficiency in recovery, from a foreclosure sale, of the full amount of the mortgage obligation may not be reported to any consumer reporting agency or disclosed to any person other than the mortgagor or the mortgagor's personal representative, unless such disclosure is otherwise required by law.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2011-12-07 00:00:00

Mandatory Foreclosure Mediation Act - Prohibits a servicer from initiating a foreclosure action against a borrower unless the servicer has: (1) made a reasonable effort to initiate mediation proceedings to determine if the borrower is eligible for a loan modification or an alternative to foreclosure; and (2) offered the borrower, if eligible, such a modification or alternative. Requires a servicer to suspend a foreclosure action initiated before the enactment of this Act until the servicer: (1) completes such a mediation proceeding; and (2) offers the borrower, if eligible, a modification or alternative. Prohibits a servicer, during the suspension period, from: (1) sending the borrower a notice of foreclosure, (2) conducting or scheduling a sale of the real property securing the mortgage, or (3) causing final judgment to be entered against the borrower. Directs the Secretary of Housing and Urban Development (HUD) to establish such a mediation process. Declares that a servicer is not required to suspend a foreclosure action if the servicer makes a reasonable effort to schedule a mediation proceeding and documents that the borrower has not agreed to one. Makes a violation of this Act a bar to a foreclosure action. Allows a servicer in compliance with this Act, however, to bring or proceed with a foreclosure action, regardless of any prior violation.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2011-12-08 00:00:00

Permanently Protecting Tenants at Foreclosure Act of 2011 - Amends the Protecting Tenants at Foreclosure Act of 2009 to repeal its sunset date December 31, 2012 (thus making the Act permanent). Establishes a private right of action to enforce compliance with such Act.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2011-12-13 00:00:00

Amends the Truth in Lending Act, as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act, to make an exemption from the requirement that a creditor in a non-credit card consumer credit transaction secured by a first lien on the principal dwelling (other than a reverse mortgage) establish an escrow or impound account for mandatory periodic payments or premiums (including taxes, insurance, and ground rents). Exempts a creditor with less than $1 billion in assets from: (1) this requirement when the consumer credit transaction has an annual percentage rate exceeding the average prime offer rate for a comparable transaction as of the date the interest rate is set by 1.5 or more percentage points; and (2) any other provision of such Act that requires the creditor to establish an escrow or impound account with respect to such a transaction.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2011-12-19 00:00:00

Affordable Mortgage for Homeowners Act of 2011 - Directs the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) each to carry out a program to provide for the reduction of the interest rates on qualified mortgage mortgages (other than fixed-rate or adjustable-rate mortgages) on single-family housing owned or guaranteed by such enterprises, in accordance with policies and procedures that the Director of the Federal Housing Finance Agency (FHFA) shall establish. Requires each program to provide a procedure for mortgagors to opt-out of an interest rate reduction.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2012-01-18 00:00:00

Regulation of Mortgage Servicing Act of 2012 - Requires a mortgage servicer to assign one case manager to each borrower that seeks a mortgage loan modification or an alternative to foreclosure. Requires the case manager to: (1) manage the communication between the servicer and the borrower, and (2) make decisions about the borrower's eligibility for a loan modification or an alternative to foreclosure. Prohibits a servicer from initiating a covered foreclosure action against a borrower unless the servicer has performed specified tasks related to offering the borrower, if eligible, a loan modification or an alternative to foreclosure. Requires a servicer to suspend a covered foreclosure action initiated before the enactment of this Act until such tasks have been performed. Prohibits a servicer, during the suspension period, from: (1) sending the borrower a notice of foreclosure, (2) conducting or scheduling a sale of the real property securing the mortgage, or (3) causing final judgment to be entered against the borrower. Prescribes requirements a servicer must meet in order to be deemed to have made a reasonable effort to obtain necessary information to determine a borrower's eligibility for a loan modification or an alternative to foreclosure. Requires a servicer, before notifying a borrower of his or her ineligibility for a loan modification or an alternative to foreclosure, to obtain the services of an independent reviewer to review the borrower's file and determine whether or not the borrower is eligible. Makes a violation of this Act a bar to a covered foreclosure action. Allows a servicer in compliance with this Act, however, to bring or proceed with a foreclosure action, regardless of any prior violation. Makes any servicer that fails to comply with any requirement of this Act liable to a borrower in the same manner that a creditor who fails to comply with any requirement is liable to a person.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2012-01-25 00:00:00

Work Force Housing Act of 2011 - Amends the National Housing Act to exempt a work force residential housing property from the prohibition against the use of multifamily housing under a federally insured mortgage for transient or hotel purposes (thus authorizing such use). Defines "work force residential housing property" as multifamily housing: (1) whose dwelling units are rented for a minimum stay of seven days, and (2) that does not provide retail hotel amenities.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2012-01-31 00:00:00

Principal Reduction Act of 2012 - Directs the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises or GSEs) each to carry out a program to reduce the outstanding principal balances on qualified mortgages on single-family housing they own or guarantee. Directs a GSE, under its program, to: (1) reduce the principal of a mortgage to an amount resulting in a mortgage loan-to-value ratio of not more than 90%; (2) require a mortgagor, if the dwelling for which the mortgage principal has been reduced is sold by any process other than a foreclosure sale or short sale, to pay the GSE at least one-third of any appreciation in value; and (3) recover from the mortgagor, if a mortgage whose principal has been reduced subsequently enters foreclosure, the difference between the foreclosure sales price and the outstanding principal balance on the mortgage immediately before the principal reduction. Prohibits the charging of borrowers fees by either a GSE or a servicer conducting a principal reduction on behalf of a GSE. Requires a GSE to pay any servicer a fee of up to $1,000 for reducing a mortgage principal under the program. Directs the Director of Federal Housing Finance Agency (FHFA) to encourage the modification of second liens on dwellings on which the mortgage principal is reduced under this Act. Prohibits the Director from approving bonus compensation that exceeds the base compensation that exceeds the base compensation for any GSE executive or senior executive unless the aggregate number of qualified mortgages for which principal reductions have been taken pursuant to the program under this Act exceeds 1 million.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2012-01-31 00:00:00

Preserving Access to Manufactured Housing Act - Amends the S.A.F.E. Mortgage Licensing Act of 2008 to exclude a seller of manufactured homes from the definition of loan originator subject to such Act, unless such individual or entity is engaged in the business of a loan originator or receives compensation or gain for engaging in certain residential mortgage loan activities in excess of any compensation or gain received in a comparable cash transaction. Amends the Truth in Lending Act, as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act, to revise the definition of "high cost mortgage."
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2012-01-31 00:00:00

FHA Enhanced Oversight Act of 2012 - Amends the National Housing Act to require semiannual independent studies during any period that the Mutual Mortgage Insurance Fund does not meet minimum capital ratio requirements.
Topic: Domestic Commerce — Consumer Finance
Subject: Taxation
Date: 2012-02-09 00:00:00

Amends the Internal Revenue Code to extend through 2013 the tax deduction for mortgage insurance premiums.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2012-02-17 00:00:00

Amends the Truth in Lending Act to deny any construction of the prohibition against residential mortgage loan originator steering incentives as prohibiting a creditor or mortgage originator from reducing compensation to an employee mortgage originator if, after the employee mortgage originator has made the consumer an initial annual percentage rate (APR) offer, the employee mortgage originator makes a subsequent offer to the consumer that: (1) consists only of a reduction in the APR, and (2) is made in response to a lower APR offer to the consumer by another creditor or mortgage originator.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2012-02-17 00:00:00

Restoring America's Commitment to Consumers Act of 2012 - Amends the Truth in Lending Act to prohibit the annual percentage rate (APR) applicable to an extension of credit on a credit card account under an open end consumer credit plan from exceeding 16%. Includes in an APR any compensation fee (including a membership fee or an annual fee) for: (1) opening or maintaining the account; (2) granting an extension of credit; or (3) making available a line of credit. Authorizes the Board of Governors of the Federal Reserve System (Board) to make adjustments to the maximum APR limitation; but creates the presumption that any increase by the Board to the maximum limitation is not in the public interest unless severe economic conditions justify the increase. Prohibits construction of this Act as an endorsement by Congress of a 16% APR. Declares the intention of Congress that: (1) such maximum APR limitation should merely serve as a ceiling on consumer credit cards and few, if any, consumer credit card accounts would ever bear the maximum rate; and (2) consumer credit card issuers should strive to maintain APRs most advantageous to borrowers. Treats as an unfair or deceptive act or practice a credit card account which, as of February 8, 2012, bears an APR that is less than 16%, and subsequently increases it between February 8, 2012, and 60 days after enactment of this Act. Imposes a $15 cap upon certain credit card account fees, including fees (such as late fees, overdraft fees, or over-the-limit transaction fees) for borrower default or breach of any condition upon which credit was extended.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2012-03-07 00:00:00

Preserving Consumer's Mortgage Origination Choices Act of 2012 - Amends the Truth in Lending Act with respect to the prohibitions against: (1) steering incentives in connection with residential mortgage loan origination; and (2) the restructuring of a financing origination fee, except in certain circumstances. Declares that nothing in such prohibitions shall be construed as prohibiting a mortgage originator who receives compensation directly from a consumer from compensating another mortgage originator employee, mortgage originator agent, or mortgage originator contractor based on the principal amount of the loan, provided that the amount of compensation received by such employee, agent, or contractor may not vary based on any other terms of the loan. Allows a mortgage originator, at the consumer's request, to reduce the amount of compensation the originator is receiving to offset permitted settlement charges (other than those the originator controls) that exceed the amounts previously disclosed on the good faith estimate of the settlement charges given to that consumer, provided that the originator's compensation may not increase.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2012-03-08 00:00:00

Second Chance at Homeownership Act of 2012 - Amends the National Housing Act to establish in the Federal Housing Administration (FHA) a Second Chance at Homeownership Program to: (1) create a voluntary FHA program to provide lenders for qualified second-chance borrowers and support long-term, sustainable homeownership; (2) target mortgage assistance to enable families to become homeowners of a one- to four-family principal residence; and (3) ensure the Program remains in effect only for as long as necessary to provide stability to the housing market. Authorizes the Secretary of Housing and Urban Development (HUD) to insure mortgages meeting specified criteria under the Program. Defines a "second-chance borrower" as any mortgagor who has not been: (1) the mortgagor under any other mortgage or had any present ownership interest in any residence after January 1, 2011, unless the Secretary makes exceptions for a mortgagor who has inherited a property; (2) delinquent with respect to any of the most recent 12 monthly rental payments due for the rental of the mortgagor's principal residence; or (3) convicted under federal or state law for fraud during the 10-year period before insurance of the mortgage under the Program. Requires the borrower's net worth to be $1 million or less.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2012-03-20 00:00:00

Consumer Protection Home Inspection Counseling Act of 2012 - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to direct the Secretary of Housing and Urban Development (HUD) to publish a Mortgagee Letter informing mortgagees of their obligation to provide prospective homebuyers with specified HUD public outreach publications concerning the importance of obtaining independent home inspections. Requires persons providing housing counseling for HUD-approved counseling agencies to: (1) be trained through a certain voluntary home inspection training module, and (2) distribute and explain certain counseling aids. Requires any homeownership counseling program under HUD auspices or administration to be provided only by organizations or counselors HUD-certified as competent to provide voluntary home inspection counseling. Authorizes HUD to withhold, withdraw, or suspend housing counseling certifications for any non-compliant housing counselor or counseling entity. Requires HUD to establish a comprehensive program to train HUD staff, contractors, individuals, and entities that provide housing counseling under specified HUD-funded programs also to provide counseling to consumers on voluntary home inspection. Requires such training program to include development of a training module to: (1) train counselors as well as counseling aids for use by housing counselors and suitable for distribution to consumers; and (2) be comprehensible to untrained consumers with or without ongoing assistance from housing counselors. Requires HUD, at the Secretary's discretion, to develop a new independent protocol, or amend existing protocols, to certify that such housing counselors have successfully completed training using the voluntary home inspection training module and counseling aids established under this Act.
Topic: Domestic Commerce — Consumer Finance
Subject: Taxation
Date: 2012-03-22 00:00:00

Amends the Internal Revenue Code to extend through 2015 the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence.
Topic: Domestic Commerce — Consumer Finance
Subject: Taxation
Date: 2012-03-29 00:00:00

Amends the Internal Revenue Code to extend through 2013 the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2012-05-17 00:00:00

Fair Debt Collection Practices Clarification Act of 2012 - Amends the Fair Debt Collection Practices Act to revise the disclaimer of liability for any act done or omitted in good faith in conformity with any advisory opinion of the Consumer Financial Protection Bureau (CFPB). Exempts from liability, in addition, acts done or omitted in good faith in compliance with any rule, regulation, or interpretation of the CFPB, or in conformity with any interpretation or approval by a CFPB official or employee duly authorized to issue such interpretations or approvals. Permits a debt collector to leave messages for a consumer regarding the collection of a debt on the consumer's answering machine, voice messaging system, or similar device, including in an initial communication with the consumer, so long as the message complies with regulations prescribed by the CFPB to ensure the preservation of consumer privacy and other rights, including restrictions on communications with third parties. Prohibits a debt collector from initiating a legal action on a debt in an arbitration setting, or requiring the consumer to resolve by arbitration a collection-related dispute on the debt, unless the consumer has agreed in writing to resolution by arbitration after collections activities have been initiated and a legal action or dispute has arisen.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2012-05-17 00:00:00

Saving Taxpayers from Unnecessary GSE Bulk Sale Programs Act of 2012 - Prohibits the Director of the Federal Housing Finance Agency from: (1) disposing of any real estate owned by it, by the Federal National Mortgage Association (Fannie Mae), or by the Federal Home Loan Mortgage Corporation (Freddie Mac) located in California under any initiative for bulk sales of such real estate; and (2) carrying out such initiative.