Summary: FHA Emergency Fiscal Solvency Act of 2012 - Amends the National Housing Act (NHA) to direct the Secretary of Housing and Urban Development (HUD) (who currently is authorized) to establish and collect additional annual premium payments for the first 11 years of the term of an insured mortgage in an amount between 0.55% and 2% of the remaining insured principal balance (with certain adjustments) for certain periods. Increases from 1.55% to 2.05% the 30-year annual premium for an insured mortgage whose original principal obligation exceeds 95% of the remaining principal balance. Revises conditions for the Secretary's exercise of authority to require indemnification for an insurance loss claim paid on a mortgage insured by a mortgagee to which the Secretary delegated insuring authority. Extends the Secretary's authority to require such an indemnification to a mortgage executed by a mortgagee approved under the direct endorsement program. Revises the conditions invoking indemnification authority to cover a circumstance where the mortgagee knew, or should have known, of a serious or material violation of the pertinent mortgage requirements, regardless of whether the violation caused the mortgage default. Makes similar revisions to the Secretary's indemnification authority in the circumstance where fraud or misrepresentation was involved in connection with the origination or underwriting and the mortgagee knew or should have known about it. Directs the Secretary to establish a process for mortgagees to appeal indemnification determinations. Directs the Secretary to establish a program to: (1) review the cause of each early period delinquency on a mortgage that is an obligation of the Mutual Mortgage Insurance Fund (Fund); (2) require indemnification of the Secretary for a loss associated with any such delinquency that results from a material violation of any guideline established or promulgated under NHA; and (3) report publicly a summary of the results of all early period reviewed delinquencies, any indemnifications required, and the financial impact on the Fund of any such indemnifications. Requires semiannual independent studies and reports during periods of capital depletion of the Fund. Directs the Secretary to analyze the cost and feasibility of an independent quarterly actuarial study of the Fund. Authorizes the Secretary to terminate the approval of the mortgagee to originate or underwrite single family mortgages for more than one area or on a nationwide basis, if the mortgagee has an excessive rate of early defaults and claims. Revises the criteria for the eligibility of a mortgage for Federal Housing Administration (FHA) insurance to authorize the participation of certain persons or entities approved by the Secretary in the origination of single family mortgages and/or home equity conversion mortgages for elderly homeowners. Directs the Secretary to require each mortgagee, as a condition for approval to originate or underwrite mortgages on HUD-insured single family or multifamily housing, to notify the Secretary of the action taken, and the reasons for it, if the mortgagee: (1) engages in the purchase of mortgages insured by the Secretary and originated by other mortgagees, or in the purchase of the servicing rights to such mortgages; and (2) at any time takes action to terminate or discontinue such purchases from another mortgagee based on any determination or evidence of fraud or material misrepresentation in connection with the origination of such mortgages. Includes among the information the Secretary of HUD is required to collect regarding early defaults on insured mortgages all data on the number of claims paid to each servicing mortgagee during each calendar quarter occurring during the applicable collection period. Establishes within FHA a Deputy Assistant Secretary for Risk Management and Regulatory Affairs, who shall be responsible for all matters relating to: (1) managing and mitigating risk to HUD mortgage insurance funds, and (2) ensuring the performances of HUD-insured mortgages. Amends the Department of Housing and Urban Development Act to establish within HUD a Chief Risk Officer for the Government National Mortgage Association (Ginnie Mae). Directs the Secretary to: (1) examine mortgage servicer compliance with the loan servicing, loss mitigation, and insurance claim submission guidelines of the FHA mortgage insurance programs; (2) estimate the annual costs to the Fund, since 2008, resulting from any failures by mortgage servicers to comply with such guidelines; and (3) develop an emergency capital plan for the restoration of the Fund's fiscal solvency. Directs the Comptroller General to provide for third party review of: (1) the financial safety and soundness of HUD mortgage insurance programs and funds, and (2) the extent of their loan loss reserves and capital adequacy. Directs the Secretary to review and revise all standards and requirements relating to disclosure of information on the mortgage insurance programs and funds. Directs the Secretary to examine all the mortgage insurance and any other FHA programs to: (1) identify the level of use and need for such programs; (2) any such programs that are unused or underused; and (3) methods for streamlining, consolidating, simplifying, increasing the efficiency of, and reducing the number of such programs.

fha emergency fiscal solvency act amends national housing act nha direct secretary housing_and_urban_development hud currently authorized establish collect additional annual premium payments years term insured mortgage remaining insured principal balance certain adjustments certain periods increases year annual premium insured mortgage original principal obligation exceeds remaining principal balance revises conditions secretary exercise authority require indemnification insurance loss claim paid mortgage insured mortgagee secretary delegated insuring authority extends secretary authority require indemnification mortgage executed mortgagee approved direct endorsement program revises conditions invoking indemnification authority cover circumstance mortgagee knew known material violation pertinent mortgage requirements regardless violation caused mortgage default makes similar revisions secretary indemnification authority circumstance fraud misrepresentation involved connection origination underwriting mortgagee knew known directs secretary establish process mortgagees appeal indemnification determinations directs secretary establish program review cause early period delinquency mortgage obligation require indemnification secretary loss associated delinquency results material violation guideline established promulgated nha report publicly summary results early period reviewed indemnifications required financial impact fund indemnifications requires semiannual independent studies reports periods capital depletion fund directs secretary analyze cost feasibility independent quarterly actuarial study fund authorizes secretary terminate approval mortgagee originate underwrite single family mortgages area nationwide basis mortgagee excessive rate early defaults claims revises criteria eligibility mortgage federal_housing_administration fha insurance authorize participation certain persons entities approved secretary origination single family mortgages home equity conversion mortgages elderly homeowners directs secretary require mortgagee condition approval originate underwrite mortgages hud insured single family multifamily housing notify secretary action taken reasons mortgagee engages purchase mortgages insured secretary originated mortgagees purchase servicing rights mortgages time takes action terminate discontinue purchases mortgagee based determination evidence fraud material misrepresentation connection origination mortgages includes information secretary hud required collect early defaults insured mortgages data number claims paid servicing mortgagee calendar quarter occurring applicable collection period establishes fha deputy assistant secretary risk_management_and_regulatory_affairs shall responsible matters relating managing mitigating risk hud mortgage insurance funds ensuring performances hud insured mortgages amends department_of_housing_and_urban_development_act establish hud chief risk officer government_national_mortgage_association ginnie_mae directs secretary examine mortgage servicer compliance loan servicing loss mitigation insurance claim submission guidelines fha mortgage insurance programs estimate annual costs fund resulting failures mortgage servicers comply guidelines develop emergency capital plan restoration fund fiscal solvency directs comptroller general provide party review financial safety soundness hud mortgage insurance programs funds extent loan loss reserves capital adequacy directs secretary review revise standards requirements relating disclosure information mortgage insurance programs funds directs secretary examine mortgage insurance fha programs identify level use need programs programs unused underused methods streamlining consolidating simplifying increasing efficiency reducing number programs


Summary:
Home Foreclosure Reduction Act of 2013 - Amends federal bankruptcy law governing a Chapter 13 debtor (adjustment of debts of an individual with regular income) to exclude from the computation of debts the secured or unsecured portions of: (1) debts secured by the debtor's principal residence if the value of the residence is less than the applicable maximum amount of noncontingent, liquidated, secured debts; or (2) debts secured or formerly secured by the debtor's principal residence that was either sold in foreclosure or surrendered to the creditor if the property's value was less than the applicable maximum amount of noncontingent, liquidated, secured debts.

Applies the credit counseling requirement to a Chapter 13 debtor who certifies receipt of notice that the holder of a claim secured by the debtor's principal residence may commence a foreclosure on it.

Requires the court to disallow a claim that is subject to any remedy for rescission under the Truth in Lending Act, notwithstanding the prior entry of a foreclosure judgment.

Permits a Chapter 13 bankruptcy plan to modify the rights of claim holders with respect to a claim for a loan originated before the effective date of this Act and secured by a security interest in the debtor's principal residence that is the subject of a foreclosure notice.

Authorizes reduction of a claim secured by the debtor's principal residence, but only in specified circumstances, particularly if the debtor sells the residence.

Permits a Chapter 13 bankruptcy plan to deny debtor liability for certain fees and charges incurred while the bankruptcy case is pending and arising from a debt secured by the debtor's principal residence, unless the claim holder observes specified requirements.

Adds to conditions for court confirmation of a plan in bankruptcy that: (1) the holder of a claim secured by the debtor's principal residence retain the lien securing the claim until the later of the payment of the claim as reduced and modified, completion of all payments under the plan, or the discharge of a debtor from all debts; and (2) the plan modifies the claim in good faith and the court does not find that the debtor has been convicted of obtaining by actual fraud the extension, renewal, or refinancing of credit that gives rise to a modified claim.

Authorizes the court, upon request, to confirm a plan proposing a reduction in the interest rate on the loan secured by such security interest and that does not reduce the principal, if certain requirements are met.

Excludes from the final discharge of a debtor from all debts any unpaid portion of such a claim as reduced.

Amends the federal judicial code to prescribe standing trustee fees regarding certain payments received under a Chapter 13 bankruptcy plan.

Instructs the Comptroller General to study: (1) the number of Chapter 13 debtors who filed, during the year following enactment of this Act, for the purpose of restructuring their principal residence mortgages; (2) the number of mortgages restructured under this Act that subsequently resulted in default and foreclosure; (3) a comparison between the effectiveness of mortgages restructured under programs outside of bankruptcy and mortgages restructured under this Act; (4) the number of cases presented to the bankruptcy courts where mortgages were restructured under this Act that were appealed; (5) the number of bankruptcy cases where mortgages were restructured under this Act that were overturned on appeal; (6) the number of bankruptcy judges disciplined as a result of actions taken to restructure mortgages under this Act; and (7) whether the amendments made by this Act should be amended to include a sunset clause.

Directs the Comptroller General to conduct: (1) a comprehensive review of the effects of the amendments made by this subtitle on the bankruptcy court, (2) a survey of whether the program should limit the types of homeowners eligible for the program, and (3) whether such amendments should remain in effect.

home foreclosure reduction act amends federal bankruptcy law governing chapter debtor adjustment debts individual regular income exclude computation debts secured unsecured portions debts secured debtor principal residence value residence applicable maximum liquidated secured debts debts secured secured debtor principal residence sold foreclosure surrendered creditor property value applicable maximum liquidated secured debts applies credit counseling requirement chapter debtor certifies receipt notice holder claim secured debtor principal residence commence foreclosure requires court disallow claim subject remedy rescission truth lending act notwithstanding prior entry foreclosure judgment permits chapter bankruptcy plan modify rights claim holders respect claim loan originated effective date act secured security interest debtor principal residence subject foreclosure notice authorizes reduction claim secured debtor principal residence specified circumstances particularly debtor sells residence permits chapter bankruptcy plan deny debtor liability certain fees charges incurred bankruptcy case pending arising debt secured debtor principal residence claim holder observes specified requirements adds conditions court confirmation plan bankruptcy holder claim secured debtor principal residence retain lien securing claim later payment claim reduced modified completion payments plan discharge debtor debts plan modifies claim good faith court find debtor convicted obtaining actual fraud extension renewal refinancing credit gives rise modified claim authorizes court request confirm plan proposing reduction interest rate loan secured security interest reduce principal certain requirements met excludes final discharge debtor debts unpaid portion claim reduced amends federal judicial code prescribe standing trustee fees certain payments received chapter bankruptcy plan instructs comptroller general study number chapter debtors filed year following enactment act purpose restructuring principal residence mortgages number mortgages restructured act subsequently resulted default foreclosure comparison effectiveness mortgages restructured programs outside bankruptcy mortgages restructured act number cases presented bankruptcy courts mortgages restructured act appealed number bankruptcy cases mortgages restructured act overturned appeal number bankruptcy judges disciplined result actions taken restructure mortgages act amendments act amended include sunset clause directs comptroller general conduct comprehensive review effects amendments subtitle bankruptcy court survey program limit types homeowners eligible program amendments remain effect


Summary:
Produce the Note Act of 2013 - Prohibits commencement of any foreclosure in connection with certain residential mortgages unless the person commencing the foreclosure complies with specified prerequisites, including identification of the actual holder of the mortgage note, the originating mortgage lender and all subsequent assignees, and other all parties who have an interest in the real estate subject to the mortgage or in the mortgage or its proceeds.

Requires the person commencing the foreclosure to: (1) notify the mortgagor, in writing, not less than five days before any action is taken to commence foreclosure; and (2) certify to the court, in the case of a judicial foreclosure, or to the office of the state to which notice is required under state law, that such notice has been provided.

produce note act prohibits commencement foreclosure connection certain residential mortgages person commencing foreclosure complies specified prerequisites including identification actual holder mortgage note originating mortgage lender subsequent assignees parties interest real estate subject mortgage mortgage proceeds requires person commencing foreclosure notify mortgagor writing days action taken commence foreclosure certify court case judicial foreclosure office state notice required state law notice provided


Summary: Amends the Truth in Lending Act to modify the exclusion from the definition of "mortgage originator" of a seller providing mortgage financing of three properties in a 12-month period to remove the requirement that a residential mortgage loan be fully amortizing. (Allows treatment as a mortgage originator of any seller providing mortgage financing of three properties in a 12-month period even if the mortgage loan involved is not fully amortizing.)

amends truth lending act modify exclusion definition mortgage originator seller providing mortgage financing properties month period remove requirement residential mortgage loan fully amortizing allows treatment mortgage originator seller providing mortgage financing properties month period mortgage loan involved fully amortizing


Summary: FHA Enhanced Oversight Act of 2013 - 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.

fha enhanced oversight act amends national housing act require semiannual independent studies period mutual_mortgage_insurance_fund meet minimum capital ratio requirements


Summary:
Responsible Homeowner Refinancing Act of 2013 - Requires the Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises or GSEs), in carrying out the Home Affordable Refinance Program, to adopt specified criteria pertaining to: (1) borrower eligibility, (2) representations and warranties, (3) prohibition on up-front fees, (4) alternative streamlined methods to determine the value of a property, (5) the purchase or guarantee of any new mortgage resulting from the refinancing of an eligible mortgage, and (6) guarantee fees.

Requires the GSEs to notify all borrowers with a mortgage owned or guaranteed by a GSE about the Program and its eligibility criteria, and inform borrowers of the website required below.

Directs the Director of the Federal Housing Finance Agency (FHFA) to establish a single website where borrowers may: (1) determine their potential eligibility for participation in the Program, (2) see a complete list of and links to qualified lenders, (3) use a mortgage refinance calculator to calculate potential payment savings based on different interest rates, and (4) obtain tips on refinancing their loan.

Directs the Director of FHFA to issue guidance to require the GSEs to make their refinancing guidelines consistent to ease the compliance requirements of qualified lenders, and in particular with respect to loans with less than 80% loan-to-value ratio and closing cost policies of the GSEs, which regulations or guidance shall be put into effect not later than 90 days after the enactment of this Acts.

responsible homeowner refinancing act requires federal_national_mortgage_association fannie_mae federal_home_loan_mortgage_corporation freddie_mac government sponsored enterprises gses carrying home_affordable_refinance_program adopt specified criteria pertaining borrower eligibility representations warranties prohibition fees alternative streamlined methods determine value property purchase guarantee new mortgage resulting refinancing eligible mortgage guarantee fees requires gses notify borrowers mortgage owned guaranteed gse program eligibility criteria inform borrowers website required directs director federal_housing_finance_agency fhfa establish single website borrowers determine potential eligibility participation program complete list links qualified lenders use mortgage refinance calculator calculate potential payment savings based different interest rates obtain tips refinancing loan directs director fhfa issue guidance require gses refinancing guidelines consistent ease compliance requirements qualified lenders particular respect loans loan value ratio closing cost policies gses regulations guidance shall effect later days enactment acts


Summary:
Prompt Notification of Short Sales Act - Requires each servicer of a home mortgage to provide in writing to a mortgagor of a residential mortgage loan specified prompt notifications and decisions regarding a written request of the mortgagor for a short sale of the dwelling or residential real property that is subject to the mortgage, deed of trust, or other security interest securing the mortgage loan.

Authorizes an aggrieved individual to bring a civil action for equitable relief and a monetary award of $1,000 for any violation of this Act.

Declares this Act inapplicable to certain residential mortgages entered into before its enactment whose mortgage agreements explicitly provide a procedure or terms for a short sale approval.

prompt notification short sales act requires servicer home mortgage provide writing mortgagor residential mortgage loan specified prompt notifications decisions written request mortgagor short sale dwelling residential real property subject mortgage deed trust security interest securing mortgage loan authorizes aggrieved individual bring civil action equitable relief monetary award violation act declares act inapplicable certain residential mortgages entered enactment mortgage agreements explicitly provide procedure terms short sale approval


Summary:
Young Americans Financial Literacy Act - Authorizes the Director of the Consumer Financial Protection Bureau (CFPB) to make competitive grants to, and enter agreements with, eligible institutions to establish centers of excellence to support research, development and planning, implementation, and evaluation of effective programs in financial literacy education for young people and families ages 8-24 years old.

Limits the aggregate amount of grants made under this Act during any fiscal year. Sunsets the grant program at the end of FY2018.

Defines "eligible institution" as a partnership of two or more of the following: (1) an institution of higher education; (2) a local educational agency; (3) a nonprofit agency, organization, or association; or (4) a financial institution.

young americans financial literacy act authorizes director consumer_financial_protection_bureau cfpb competitive grants enter agreements eligible institutions establish centers excellence support research development planning implementation evaluation effective programs financial literacy education young people families ages years old limits aggregate grants act fiscal year sunsets grant program end fy2018 defines eligible institution partnership following institution higher education local educational agency nonprofit agency organization association financial institution


Summary:
End Unnecessary Borrowing Act of 2013 - Amends the National Housing Act with respect to the requirement that the Secretary of Housing and Urban Development (HUD) endeavor to ensure that the Mutual Mortgage Insurance Fund attains a capital ratio of not less than 2% within 10 years after enactment of that requirement (November 5, 1990) and to ensure that the Fund maintains at least that capital ratio at all times thereafter.

Prohibits these requirements from being construed to authorize or require the Secretary to borrow any amounts to comply with the capital ratio requirement.

Limits the use of any authority of the Secretary to borrow from the Treasury for the Mutual Mortgage Insurance Fund only to the extent necessary to pay claims on mortgage insurance that is an obligation of such Fund.

end unnecessary borrowing act amends national housing act respect requirement secretary housing_and_urban_development hud endeavor ensure mutual_mortgage_insurance_fund attains capital ratio years enactment requirement november ensure fund maintains capital ratio times prohibits requirements construed authorize require secretary borrow amounts comply capital ratio requirement limits use authority secretary borrow treasury mutual_mortgage_insurance_fund extent necessary pay claims mortgage insurance obligation fund


Summary:
Stopping Abuse and Fraud in Electronic Lending Act of 2013 or SAFE Lending Act of 2013 - Amends the Electronic Fund Transfer Act to authorize the issuance of remotely created checks only if the consumer has designated in writing a person to issue them.

Defines a "remotely created check" as one that: (1) is not created by the financial institution that holds the customer account from which the check is to be paid; and (2) does not bear a signature applied, or purported to be applied, by the person from whose account the check is to be paid.

 Treats as a preauthorized electronic fund transfer (EFT) subject to the protections of such Act any voluntary repayment by a consumer of an extension of a small-dollar ($5,000 or less) consumer credit transaction by means of an EFT.

Amends the Truth in Lending Act to require any small-dollar consumer credit transaction made over the Internet, telephone, FAX, mail, electronic mail, or other electronic communication, as well as any conducted by a national bank, to comply with the laws of the state in which the consumer resides with respect to annual percentage rates, interest, fees, charges, and such other matters as the Consumer Financial Protection Bureau (CFPB) may determine.

Prohibits a person from facilitating, brokering, arranging, gathering applications for, distributing sensitive personal financial information, or extending credit in connection with a small-dollar consumer credit transaction unless that person is directly providing the small-dollar consumer credit to the consumer.

 Empowers the CFPB to investigate violations of this Act. Sets forth investigative and cease-and-desist enforcement procedures, particularly with respect to both covered onshore persons (state governments or Indian tribes) or offshore persons (which conduct business directed to U.S. residents but from a location outside, and without a domain name registered or assigned by an authority within, any U.S. judicial district).

Directs the Government Accountability Office (GAO) to study the availability of capital on Indian reservations and the impact that small-dollar consumer credit extended through Internet and non-Internet means to members of Indian tribes has had upon economic opportunity and wealth for tribal members.

stopping abuse fraud electronic lending act safe lending act amends electronic fund transfer act authorize issuance remotely created checks consumer designated writing person issue defines remotely created check created financial institution holds customer account check paid bear signature applied purported applied person account check paid treats preauthorized electronic fund transfer eft subject protections act voluntary repayment consumer extension small dollar consumer credit transaction means eft amends truth lending act require small dollar consumer credit transaction internet telephone fax mail electronic mail electronic communication conducted national bank comply laws state consumer resides respect annual percentage rates interest fees charges matters consumer_financial_protection_bureau cfpb determine prohibits person facilitating arranging gathering applications distributing sensitive personal financial information extending credit connection small dollar consumer credit transaction person directly providing small dollar consumer credit consumer empowers cfpb investigate violations act sets forth investigative cease desist enforcement procedures particularly respect covered onshore persons state governments indian tribes offshore persons conduct business directed residents location outside domain registered assigned authority judicial district directs government_accountability_office gao study availability capital indian reservations impact small dollar consumer credit extended internet non internet means members indian tribes economic opportunity wealth tribal members


Summary:
Fair Access to Credit Scores Act of 2013 - Amends the Fair Credit Reporting Act to require certain consumer reporting agencies to disclose, without charge, as part of a consumer's free annual disclosure upon request, a current credit score generated using the scoring methodology most frequently used to generate scores sold to creditors, including information regarding other risk scores or predictors in the consumer's file.

Requires the agencies also to furnish such other consumer information as the Consumer Financial Protection Bureau (CFPB) considers appropriate with respect to consumer financial education, including where the consumer's credit score falls with respect to a range of possible credit scores, and the general factors contributing to the credit scores of consumers.

Requires such agencies, upon consumer request for either a credit score or a risk score, to supply any such score in the consumer's file at the agency.

Requires the agencies to maintain credit scores or other risk scores or predictors in the consumer's file for at least one year after the data is generated.

Directs the CFPB to develop regulations establishing a mandatory format for consumer file disclosures.

fair_access_to_credit_scores_act amends fair credit reporting act require certain consumer reporting agencies disclose charge consumer free annual disclosure request current credit score generated scoring methodology frequently generate scores sold creditors including information risk scores predictors consumer file requires agencies furnish consumer information consumer_financial_protection_bureau cfpb considers appropriate respect consumer financial education including consumer credit score falls respect range possible credit scores general factors contributing credit scores consumers requires agencies consumer request credit score risk score supply score consumer file agency requires agencies maintain credit scores risk scores predictors consumer file year data generated directs cfpb develop regulations establishing mandatory format consumer file disclosures


Summary:
Consumer Mortgage Choice Act - Amends the Truth in Lending Act with respect to requirements for disclosure to a consumer of points and fees information about a consumer credit transaction, secured by the consumer's principal dwelling, but which is not a residential mortgage transaction, a reverse mortgage transaction, or a transaction under an open end credit plan, when the total points and fees the consumer must pay at or before closing will exceed 8% percent of the total loan amount or $400, whichever is greater. (Such consumer credit transactions might include an equity credit line to which consumer purchases or leases may be charged.)

Excludes from the computation of such points and fees: (1) the amount of any loan level price adjustment payment set by the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), the Federal Housing Administration (FHA), or similar government entity or government-sponsored enterprise; (2) any compensation paid by a mortgage originator or a creditor to an individual person employed by the mortgage originator or creditor; and (3) any escrow for future payment of insurance.

Modifies the inclusion in the computation of points and fees of all compensation paid to mortgage brokers. Specifies instead all compensation paid directly by a consumer to a mortgage originator, including a mortgage originator that is also the creditor in a table-funded transaction, but not including compensation paid by a mortgage originator or a creditor to an individual employed by the mortgage originator or creditor.

Modifies the criteria for exclusion from the computation of points and fees of certain reasonable charges elsewhere exempted from the computation of the finance charge in extensions of credit secured by an interest in real property. Excludes from points and fees any such reasonable charges even though a creditor receives compensation, but only in so far as the creditor or its affiliate retains the compensation as a result of their participation in an affiliated business arrangement.

(An "affiliated business arrangement" is one in which: (1) a person who is in a position to refer business incident to or a part of a real estate settlement service involving a federally related mortgage loan, or an associate of such person, has either an affiliate relationship with or a direct or beneficial ownership interest of more than 1% in a provider of settlement services; and (2) either of such persons directly or indirectly refers such business to that provider or affirmatively influences the provider's selection.)

Revises the additional requirement that such a reasonable charge be paid to a third party unaffiliated with the creditor. Requires the charge to be: (1) a bona fide third party charge not retained by the mortgage originator, creditor, or an affiliate; or (2) a fee or premium for title examination, title insurance, or similar purposes.

Modifies the conditions under which federal departments and agencies may exempt refinancings under a streamlined refinancing from an income verification requirement that, at the time a refinancing is consummated, the consumer has a reasonable ability to repay the loan and all applicable taxes, insurance, and assessments. Repeals the exception for bona fide third party charges not retained by the mortgage originator, creditor, or an affiliate from the requirement that total points and fees not exceed 3% of the total new loan amount. (Thus subjects such charges to the same 3% ceiling.)

consumer mortgage choice act amends truth lending act respect requirements disclosure consumer points fees information consumer credit transaction secured consumer principal dwelling residential mortgage transaction reverse mortgage transaction transaction open end credit plan total points fees consumer pay closing exceed percent total loan whichever greater consumer credit transactions include equity credit line consumer purchases leases charged excludes computation points fees loan level price adjustment payment set federal_national_mortgage_association fannie_mae federal_home_loan_mortgage_corporation freddie_mac federal_housing_administration fha similar government entity government sponsored enterprise compensation paid mortgage originator creditor individual person employed mortgage originator creditor escrow future payment insurance modifies inclusion computation points fees compensation paid mortgage brokers specifies instead compensation paid directly consumer mortgage originator including mortgage originator creditor table funded transaction including compensation paid mortgage originator creditor individual employed mortgage originator creditor modifies criteria exclusion computation points fees certain reasonable charges exempted computation finance charge extensions credit secured interest real property excludes points fees reasonable charges creditor receives compensation far creditor affiliate retains compensation result participation affiliated business arrangement affiliated business arrangement person position refer business incident real estate settlement service involving federally related mortgage loan associate person affiliate relationship direct beneficial ownership interest provider settlement services persons directly indirectly refers business provider affirmatively influences provider selection revises additional requirement reasonable charge paid party unaffiliated creditor requires charge bona fide party charge retained mortgage originator creditor affiliate fee premium title examination title insurance similar purposes modifies conditions federal departments agencies exempt refinancings streamlined refinancing income verification requirement time refinancing consummated consumer reasonable ability repay loan applicable taxes insurance assessments repeals exception bona fide party charges retained mortgage originator creditor affiliate requirement total points fees exceed total new loan subjects charges ceiling


Summary:
FHA Emergency Fiscal Solvency Act of 2013 - Amends the National Housing Act (NHA) to direct the Secretary of Housing and Urban Development (HUD) (who currently is authorized) to establish and collect additional annual premium payments for the first 11 years of the term of an insured mortgage in an amount between 0.55% and 2% of the remaining insured principal balance (with certain adjustments) for certain periods. Increases from 1.55% to 2.05% the 30-year annual premium for an insured mortgage whose original principal obligation exceeds 95% of the remaining principal balance.

Revises conditions for the Secretary's exercise of authority to require indemnification for an insurance loss claim paid on a mortgage insured by a mortgagee to which the Secretary delegated insuring authority. Extends the Secretary's authority to require such an indemnification to a mortgage executed by a mortgagee approved under the direct endorsement program. Revises the conditions invoking indemnification authority to cover a circumstance where the mortgagee knew, or should have known, of a serious or material violation of the pertinent mortgage requirements, regardless of whether the violation caused the mortgage default. Makes similar revisions to the Secretary's indemnification authority in the circumstance where fraud or misrepresentation was involved in connection with the origination or underwriting and the mortgagee knew or should have known about it.

Directs the Secretary to establish a process for mortgagees to appeal indemnification determinations.

Directs the Secretary to establish a program to: (1) review the cause of each early period delinquency on a mortgage that is an obligation of the Mutual Mortgage Insurance Fund (Fund); (2) require indemnification of the Secretary for a loss associated with any such delinquency that results from a material violation of any guideline established or promulgated under NHA; and (3) report publicly a summary of the results of all early period reviewed delinquencies, any indemnifications required, and the financial impact on the Fund of any such indemnifications.

Requires semiannual independent studies and reports during periods of capital depletion of the Fund.

Directs the Secretary to analyze the cost and feasibility of an independent quarterly actuarial study of the Fund.

Authorizes the Secretary to terminate the approval of the mortgagee to originate or underwrite single family mortgages for more than one area or on a nationwide basis, if the mortgagee has an excessive rate of early defaults and claims.

Revises the criteria for the eligibility of a mortgage for Federal Housing Administration (FHA) insurance to authorize the participation of certain persons or entities approved by the Secretary in the origination of single family mortgages and/or home equity conversion mortgages for elderly homeowners.

Directs the Secretary to require each mortgagee, as a condition for approval to originate or underwrite mortgages on HUD-insured single family or multifamily housing, to notify the Secretary of the action taken, and the reasons for it, if the mortgagee: (1) engages in the purchase of mortgages insured by the Secretary and originated by other mortgagees, or in the purchase of the servicing rights to such mortgages; and (2) at any time takes action to terminate or discontinue such purchases from another mortgagee based on any determination or evidence of fraud or material misrepresentation in connection with the origination of such mortgages.

Includes among the information the Secretary is required to collect regarding early defaults on insured mortgages all data on the number of claims paid to each servicing mortgagee during each calendar quarter occurring during the applicable collection period.

Establishes within FHA a Deputy Assistant Secretary for Risk Management and Regulatory Affairs, who shall be responsible for all matters relating to: (1) managing and mitigating risk to HUD mortgage insurance funds, and (2) ensuring the performances of HUD-insured mortgages.

Amends the Department of Housing and Urban Development Act to establish within HUD a Chief Risk Officer for the Government National Mortgage Association (Ginnie Mae).

Directs the Secretary to: (1) examine mortgage servicer compliance with the loan servicing, loss mitigation, and insurance claim submission guidelines of the FHA mortgage insurance programs; (2) estimate the annual costs to the Fund, since 2008, resulting from any failures by mortgage servicers to comply with such guidelines; and (3) develop an emergency capital plan for the restoration of the Fund's fiscal solvency.

Directs the Comptroller General to provide for third party review of: (1) the financial safety and soundness of HUD mortgage insurance programs and funds, and (2) the extent of their loan loss reserves and capital adequacy.

Directs the Secretary to review and revise all standards and requirements relating to disclosure of information on the mortgage insurance programs and funds.

Directs the Secretary to examine all the mortgage insurance and any other FHA programs to: (1) identify the level of use and need for such programs; (2) any such programs that are unused or underused; and (3) methods for streamlining, consolidating, simplifying, increasing the efficiency of, and reducing the number of such programs.

fha emergency fiscal solvency act amends national housing act nha direct secretary housing_and_urban_development hud currently authorized establish collect additional annual premium payments years term insured mortgage remaining insured principal balance certain adjustments certain periods increases year annual premium insured mortgage original principal obligation exceeds remaining principal balance revises conditions secretary exercise authority require indemnification insurance loss claim paid mortgage insured mortgagee secretary delegated insuring authority extends secretary authority require indemnification mortgage executed mortgagee approved direct endorsement program revises conditions invoking indemnification authority cover circumstance mortgagee knew known material violation pertinent mortgage requirements regardless violation caused mortgage default makes similar revisions secretary indemnification authority circumstance fraud misrepresentation involved connection origination underwriting mortgagee knew known directs secretary establish process mortgagees appeal indemnification determinations directs secretary establish program review cause early period delinquency mortgage obligation require indemnification secretary loss associated delinquency results material violation guideline established promulgated nha report publicly summary results early period reviewed indemnifications required financial impact fund indemnifications requires semiannual independent studies reports periods capital depletion fund directs secretary analyze cost feasibility independent quarterly actuarial study fund authorizes secretary terminate approval mortgagee originate underwrite single family mortgages area nationwide basis mortgagee excessive rate early defaults claims revises criteria eligibility mortgage federal_housing_administration fha insurance authorize participation certain persons entities approved secretary origination single family mortgages home equity conversion mortgages elderly homeowners directs secretary require mortgagee condition approval originate underwrite mortgages hud insured single family multifamily housing notify secretary action taken reasons mortgagee engages purchase mortgages insured secretary originated mortgagees purchase servicing rights mortgages time takes action terminate discontinue purchases mortgagee based determination evidence fraud material misrepresentation connection origination mortgages includes information secretary required collect early defaults insured mortgages data number claims paid servicing mortgagee calendar quarter occurring applicable collection period establishes fha deputy assistant secretary risk_management_and_regulatory_affairs shall responsible matters relating managing mitigating risk hud mortgage insurance funds ensuring performances hud insured mortgages amends department_of_housing_and_urban_development_act establish hud chief risk officer government_national_mortgage_association ginnie_mae directs secretary examine mortgage servicer compliance loan servicing loss mitigation insurance claim submission guidelines fha mortgage insurance programs estimate annual costs fund resulting failures mortgage servicers comply guidelines develop emergency capital plan restoration fund fiscal solvency directs comptroller general provide party review financial safety soundness hud mortgage insurance programs funds extent loan loss reserves capital adequacy directs secretary review revise standards requirements relating disclosure information mortgage insurance programs funds directs secretary examine mortgage insurance fha programs identify level use need programs programs unused underused methods streamlining consolidating simplifying increasing efficiency reducing number programs


Summary: Short Sale Transparency Act of 2013 - 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.

short sale transparency act directs director federal_housing_finance_agency require federal_national_mortgage_association fannie_mae federal_home_loan_mortgage_corporation freddie_mac case denies purchase residential mortgage loan finance purchase short sale covered dwelling basis purchase price involved insufficient disclose promptly prospective seller purchase price minimum purchase price sufficient approval purchase mortgage


Summary:
Disaster-Affected Homeowners Notification Act of 2013 - Requires certain notifications if, in connection with any major disaster declared pursuant to the Robert T. Stafford Disaster Relief and Emergency Assistance Act, the Secretary of Housing and Urban Development (HUD), the Director of the Federal Housing Agency, the Federal National Mortgage Association (Fannie Mae), or the Federal Home Loan Mortgage Corporation (Freddie Mac) makes available forbearance relief with respect to any covered mortgage, or any such agency head or enterprise issues any notice or guidelines to mortgagees or servicers recommending or requiring such relief.

Directs the applicable agency head to provide: (1) to each mortgagor under a covered mortgage direct notification of the forbearance relief made available, required, or recommended; and (2) for areas subject to such disaster declaration, community-wide notification of such relief.

Directs the applicable agency heads to issue guidelines regarding measures designed to provide notice and awareness of forbearance relief.

homeowners notification act requires certain notifications connection major disaster declared pursuant robert stafford disaster relief emergency assistance act secretary housing_and_urban_development hud director federal_national_mortgage_association fannie_mae federal_home_loan_mortgage_corporation freddie_mac makes available forbearance relief respect covered mortgage agency head enterprise issues notice guidelines mortgagees servicers recommending requiring relief directs applicable agency head provide mortgagor covered mortgage direct notification forbearance relief available required recommended areas subject disaster declaration community wide notification relief directs applicable agency heads issue guidelines measures designed provide notice awareness forbearance relief


Summary:
National Financial Literacy Act of 2013 - Amends the Community Reinvestment Act of 1977 to require federal financial supervisory agencies jointly to prescribe regulations establishing: (1) minimum standards to be met by a community-based financial literacy program in order to be eligible for consideration as a qualified community-based financial literacy program; (2) procedures for financial institutions to apply to a federal financial supervisory agency for approval of such a program; and (3) a requirement that financial institutions submit a regular report on how the institution supported and promoted financial literacy in its entire community, including low- and moderate-income neighborhoods.

Authorizes a federal financial supervisory agency to take an institution's direct support of a qualified community-based financial literacy program into account when it assesses the institution's record of meeting the community's credit needs.

Amends the Internal Revenue Code to allow a tax credit to small businesses for 35% of the expenses paid or incurred for providing qualified continuing financial education to their employees.

amends community reinvestment act require federal financial supervisory agencies jointly prescribe regulations establishing minimum standards met community based financial literacy program order eligible consideration qualified community based financial literacy program procedures financial institutions apply federal financial supervisory agency approval program requirement financial institutions submit regular report institution supported promoted financial literacy entire community including low- moderate income neighborhoods authorizes federal financial supervisory agency institution direct support qualified community based financial literacy program account assesses institution record meeting community credit needs amends internal revenue code allow tax credit small businesses expenses paid incurred providing qualified continuing financial education employees


Summary: Mortgage Settlement Monitoring Act of 2013 - Establishes the Office of the Independent Monitor to determine the compliance with its terms of all parties to the amended consent orders (settlement) finalized on February 28, 2013, between the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency and 11 mortgage servicing companies subject to enforcement actions for unsafe and unsound practices related to residential mortgage loan servicing and foreclosure processing, as well as any future agreement between the Board and the Office and a mortgage servicing company.

mortgage settlement monitoring act establishes office independent monitor determine compliance terms parties amended consent orders settlement finalized february board_of_governors federal_reserve_system office_of_the_comptroller_of_the_currency mortgage servicing companies subject enforcement actions unsafe unsound practices related residential mortgage loan servicing foreclosure processing future agreement board office mortgage servicing company


Summary:
Housing Opportunity and Mortgage Equity Act of 2013 - 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 one-year program providing for the refinancing of qualified single-family housing mortgages it owns through a refinancing mortgage (and for the purchase of and securitization of such refinancing mortgages) in accordance with this Act and the policies and procedures of the Federal Housing Finance Agency (FHFA).

Defines a qualified mortgage as one, regardless of whether the mortgagor is current on payments due or in default, that: (1) is an existing first mortgage for purchase of, or refinancing another first mortgage on, a one- to four-family dwelling, including a condominium or a share in a cooperative ownership housing association, that is occupied by the mortgagor as principal residence; (2) is owned or guaranteed by the particular GSE; and (3) was originated on or before enactment of this Act.

Specifies the terms and conditions of a refinancing mortgage, including a 40-year term to maturity and a prohibition on borrower fees. Requires waiver or forgiveness of all fees and penalties related to any default or delinquency on the original mortgage.

Authorizes the FHFA Director, in his or her sole discretion, to require each enterprise to pay a servicer an appropriate fee for each qualified mortgage of an enterprise that the servicer refinances through a refinancing mortgage.

Prohibits any requirement of a property appraisal.

directs federal_national_mortgage_association fannie_mae federal_home_loan_mortgage_corporation freddie_mac government sponsored enterprises gses carry year program providing refinancing qualified single family housing mortgages owns refinancing mortgage purchase securitization refinancing mortgages accordance act policies procedures federal_housing_finance_agency fhfa defines qualified mortgage regardless mortgagor current payments default existing mortgage purchase refinancing mortgage one- family dwelling including condominium share cooperative ownership housing association occupied mortgagor principal residence owned guaranteed particular gse originated enactment act specifies terms conditions refinancing mortgage including year term maturity prohibition borrower fees requires waiver forgiveness fees penalties related default delinquency original mortgage authorizes fhfa director sole discretion require enterprise pay servicer appropriate fee qualified mortgage enterprise servicer refinances refinancing mortgage prohibits requirement property appraisal


Summary:
Preserving American Homeownership Act of 2013 - Requires the Director of the Federal Housing Finance Agency and the Federal Housing Commissioner each to establish a pilot program to encourage, through assistance provided under the Home Affordable Modification Program (HAMP) under the Secretary of the Treasury's Making Home Affordable initiative, the use of shared appreciation mortgage modifications that: (1) are designed to return greater cash flow to investors than other loss-mitigation activities, including foreclosure; and (2) result in positive net present value for the investor.

Requires a shared appreciation mortgage modification to: (1) reduce by specified action the loan-to-value ratio of a covered mortgage to 115% immediately upon modification and to 95% within 3 years; (2) reduce the interest rate if such a principal reduction would not result in an affordable reduced monthly payment; (3) reduce to a specified amount any periodic payment the homeowner is required to make; (4) require the homeowner to pay the investor, after refinancing or selling the real property securing a covered mortgage, up to 50% of the amount of any increase in the value of the real property during a specified period; and (5) result in a positive net present value for the investor after taking into account the principal reduction and, if necessary, any interest rate reduction.

Requires the Director to: (1) provide that an enterprise may negotiate regarding a shared appreciation mortgage modification of a covered mortgage with any mortgage insurance provider for a mortgage on the subject property, and (2) allow advanced claim agreements with respect to such mortgage insurance policies.

preserving american homeownership act requires director federal_housing_finance_agency federal_housing commissioner establish pilot program encourage assistance provided home_affordable_modification_program hamp secretary treasury making home affordable initiative use shared appreciation mortgage modifications designed return greater cash flow investors loss mitigation activities including foreclosure result positive net present value investor requires shared appreciation mortgage modification reduce specified action loan value ratio covered mortgage immediately modification years reduce interest rate principal reduction result affordable reduced monthly payment reduce specified periodic payment homeowner required require homeowner pay investor refinancing selling real property securing covered mortgage increase value real property specified period result positive net present value investor taking account principal reduction necessary interest rate reduction requires director provide enterprise negotiate shared appreciation mortgage modification covered mortgage mortgage insurance provider mortgage subject property allow advanced claim agreements respect mortgage insurance policies


Summary: Medical Debt Responsibility Act of 2013 - Amends the Fair Credit Reporting Act to prohibit a consumer reporting agency from making any report containing information related to a fully paid or settled medical debt that had been characterized as delinquent, charged off, or in collection which, from the date of payment or settlement, antedates the report by more than 45 days.

medical debt responsibility act amends fair credit reporting act prohibit consumer reporting agency making report containing information related fully paid settled medical debt characterized delinquent charged collection date payment settlement antedates report days


Summary:
Preserving Access to Manufactured Housing Act of 2013 - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to revise the exclusion from the meaning of "mortgage originator" of any employee of a retailer of manufactured homes who does not for compensation or gain take residential mortgage loan applications, for compensation or gain offer or negotiate terms of a residential mortgage loan, or advise a consumer on loan terms (including rates, fees, and other costs).

Excludes from the meaning of "mortgage originator," instead, any retailer of manufactured or modular homes or its employees unless the retailer or its employees receive compensation or gain for engaging in certain activities in excess of any compensation or gain received in a comparable cash transaction.

Amends the Truth in Lending Act to revise the definition of "high cost mortgage."

preserving access manufactured housing act amends dodd frank wall street reform consumer protection act revise exclusion meaning mortgage originator employee retailer manufactured homes compensation gain residential mortgage loan applications compensation gain offer negotiate terms residential mortgage loan advise consumer loan terms including rates fees costs excludes meaning mortgage originator instead retailer manufactured modular homes employees retailer employees receive compensation gain engaging certain activities excess compensation gain received comparable cash transaction amends truth lending act revise definition high cost mortgage


Summary: (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Reverse Mortgage Stabilization Act of 2013 - Amends the National Housing Act, with respect to mortgage insurance for home equity conversion mortgages (reverse mortgages) of elderly homeowners, to authorize the Secretary of Housing and Urban Development (HUD) to establish, by notice or mortgagee letter, any additional or alternative requirements determined necessary to improve the fiscal safety and soundness of the reverse mortgage program. Declares that such requirements shall take effect upon issuance.

measure amended introduced summary version repeated reverse mortgage stabilization act amends national housing act respect mortgage insurance home equity conversion mortgages reverse mortgages elderly homeowners authorize secretary housing_and_urban_development hud establish notice mortgagee letter additional alternative requirements determined necessary improve fiscal safety soundness reverse mortgage program declares requirements shall effect issuance


Summary:
Accuracy in Reporting Medical Debt Act of 2013 - Amends the Fair Debt Collection Practices Act to prohibit debt collectors, during a 120-day period, from reporting a medical debt (arising from the receipt of medical services, products, or devices) to any consumer reporting agency if the consumer, within a specified timeframe, disputes the validity of such debt through a written statement that the consumer is: (1) continuing to communicate with an insurance company to determine coverage for the debt, (2) disputing the amount or existence of the debt, or (3) awaiting a determination on an application for financial assistance when the consumer provides evidence of such application.

Prohibits this Act from having any effect on when a debt collector may engage in activities to collect or attempt to collect any debt owed or due or asserted to be owed.

accuracy reporting medical debt act amends fair debt collection practices act prohibit debt collectors day period reporting medical debt arising receipt medical services products devices consumer reporting agency consumer specified timeframe disputes validity debt written statement consumer continuing communicate insurance company determine coverage debt existence debt awaiting determination application financial assistance consumer provides evidence application prohibits act having effect debt collector engage activities collect attempt collect debt owed asserted owed


Summary: Right to Lend Act of 2013 - Repeals provisions of the Equal Credit Opportunity Act, as amended by Dodd-Frank Wall Street Reform and Consumer Protection Act, that require financial institutions to: (1) inquire whether businesses applying for credit for a women-owned, minority-owned, or small business are such a business; and (2) submit annually to the Bureau of Consumer Financial Protection, in a manner to be made available to the public, a record of the responses to such inquiry, including census tract information and disclosures as to the race, sex, and ethnicity of the principal owners of such businesses.

right repeals provisions equal_credit_opportunity_act amended dodd-frank_wall_street_reform consumer protection act require financial institutions inquire businesses applying credit women owned minority owned small business business submit annually bureau_of_consumer_financial_protection manner available public record responses inquiry including census tract information disclosures race sex ethnicity principal owners businesses


Summary:
Qualified Mortgage Loan Originator Transitional Authority Act of 2013 - Amends the S.A.F.E. Mortgage Licensing Act of 2008 with respect to the prohibition against an individual's engaging in the business of a loan originator without first obtaining (and maintaining annually) a registration as a registered loan originator or a license and registration as a state-licensed loan originator, as well as obtaining a unique identifier.

Authorizes certain individuals who are qualified registered loan originators under the Truth in Lending Act to act as a loan originator, during a 90-day period following submission of background check materials, under the supervision of a state-licensed firm that engages in loan origination. Terminates the individual's authority to act as a loan originator upon the end of such 90-day period.

amends mortgage licensing act respect prohibition individual engaging business loan originator obtaining maintaining annually registration registered loan originator license registration state licensed loan originator obtaining unique identifier authorizes certain individuals qualified registered loan originators truth lending act act loan originator day period following submission background check materials supervision state licensed firm engages loan origination terminates individual authority act loan originator end day period


Summary:
Small Business Credit Card Act of 2013 - Amends the Truth in Lending Act to cover any qualified small business as a consumer with respect to a credit card account under an open end credit plan (thereby extending credit card protections under such Act to small businesses).

Defines "qualified small business" under the Act as any business concern having 50 or fewer employees, whether or not: (1) the credit card account is in the name of an individual or a business entity, and (2) any credit transaction involving such account is for business or personal purposes.

Permits a qualified small business to elect to opt out of coverage by the Act.

Requires certain creditor disclosures before opening any account under an open end consumer credit plan for a qualified small business.

Prohibits a creditor from: (1) discriminating against any business concern having 50 or fewer employees in connection with any credit card account under an open end credit plan; or (2) requiring any qualified small business to make an opt-out election as a condition for opening a credit card account, or for providing more advantageous terms for such an account.

amends truth lending act cover qualified small business consumer respect credit card account open end credit plan extending credit card protections act small businesses defines qualified small business act business concern having fewer employees credit card account individual business entity credit transaction involving account business personal purposes permits qualified small business elect opt coverage act requires certain creditor disclosures opening account open end consumer credit plan qualified small business prohibits creditor discriminating business concern having fewer employees connection credit card account open end credit plan requiring qualified small business opt election condition opening credit card account providing advantageous terms account


Summary:
Regulation of Mortgage Servicing Act of 2013 - 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.

regulation mortgage servicing act requires mortgage servicer assign case manager borrower seeks mortgage loan modification alternative foreclosure requires case manager manage communication servicer borrower decisions borrower eligibility loan modification alternative foreclosure prohibits servicer initiating covered foreclosure action borrower servicer performed specified tasks related offering borrower eligible loan modification alternative foreclosure requires servicer suspend covered foreclosure action initiated enactment act tasks performed prohibits servicer suspension period sending borrower notice foreclosure conducting scheduling sale real property securing mortgage causing final judgment entered borrower prescribes requirements servicer meet order deemed reasonable effort obtain necessary information determine borrower eligibility loan modification alternative foreclosure requires servicer notifying borrower ineligibility loan modification alternative foreclosure obtain services independent reviewer review borrower file determine borrower eligible makes violation act bar covered foreclosure action allows servicer compliance act bring proceed foreclosure action regardless prior violation makes servicer fails comply requirement act liable borrower manner creditor fails comply requirement liable person


Summary: Ending Taxpayer Subsidies for Yachts Act - Amends the Internal Revenue Code to deny a tax deduction for interest paid on a mortgage for a second residence of a taxpayer if that residence is a boat.

act amends internal revenue code deny tax deduction interest paid mortgage second residence taxpayer residence boat


Summary:
Right to Rent Act of 2013 - Grants eligible mortgagors subject to foreclosure proceedings the right to continue to occupy foreclosed properties subject to the payment of fair market rent for a period of five years that begins upon the commencement of occupancy of such property.

Instructs the Secretary of Housing and Urban Development (HUD) to: (1) monitor compliance with this Act, (2) provide assistance to eligible mortgagors in exercising their rights under this Act, and (3) conduct outreach activities to inform eligible mortgagors of this Act.

right rent act grants eligible mortgagors subject foreclosure proceedings right continue occupy foreclosed properties subject payment fair market rent period years begins commencement occupancy property instructs secretary housing_and_urban_development hud monitor compliance act provide assistance eligible mortgagors exercising rights act conduct outreach activities inform eligible mortgagors act


Summary: (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Amends the Interstate Land Sales Full Disclosure Act to exempt from certain registration and disclosure requirements the sale or lease of a condominium unit not already exempt from coverage under such Act.

measure amended introduced summary version repeated amends disclosure act exempt certain registration disclosure requirements sale lease condominium unit exempt coverage act


Summary:
Portfolio Lending and Mortgage Access Act - Amends the Truth in Lending Act with respect to the permission that a creditor may presume that a residential mortgage loan has met the requirement that, at the time the loan is consummated, the consumer has a reasonable ability to repay it, if the loan is a qualified mortgage.

Treats as a qualified mortgage any residential mortgage loan made by a creditor so long as it appears on the creditor's balance sheet (held on portfolio).

portfolio lending mortgage access act amends truth lending act respect permission creditor presume residential mortgage loan met requirement time loan consummated consumer reasonable ability repay loan qualified mortgage treats qualified mortgage residential mortgage loan creditor long appears creditor balance sheet held portfolio


Summary: Mortgage Forgiveness Tax Relief Act - 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.

mortgage forgiveness tax relief act amends internal revenue code extend exclusion gross income income attributable discharge indebtedness principal residence


Summary:
FHA In-Person Servicing Improvement Act of 2013 - Directs the Secretary of Housing and Urban Development (HUD) to carry out a pilot program to use authority under the National Housing Act to pay insurance benefits to compensate a mortgagee for any costs of taking loss mitigation actions providing an alternative to foreclosure of a mortgage in default or facing imminent default.

Requires the Secretary to make payments to a qualified entity or entities to compensate for their costs of making in-person contact with mortgagors whose payments under covered mortgages are more than 60 days past due.

fha person servicing improvement act directs secretary housing_and_urban_development hud carry pilot program use authority national housing act pay insurance benefits compensate mortgagee costs taking loss mitigation actions providing alternative foreclosure mortgage default facing imminent default requires secretary payments qualified entity entities compensate costs making person contact mortgagors payments covered mortgages days past


Summary: FHA Alternative Credit Pilot Program Reauthorization Act of 2013 - Amends the National Housing Act to extend from five to 10 years the pilot program to establish for mortgagees an automated process for providing alternative credit rating information on mortgagors and prospective mortgagors under mortgages on 1- to 4-family residences who have insufficient credit histories for determining their creditworthiness.

amends national housing act extend years pilot program establish mortgagees automated process providing alternative credit rating information mortgagors prospective mortgagors mortgages family residences insufficient credit histories determining creditworthiness


Summary: Fair Debt Collection Practices Technical Clarification Act of 2013 - Amends the Fair Debt Collection Practices Act to exclude from the definition of "debt collector" any law firm or licensed attorney: (1) serving, filing, or conveying formal legal pleadings, discovery requests, or other documents pursuant to the applicable rules of civil procedure; or (2) communicating in, or at the direction of, a court of law or in depositions or settlement conferences, in connection with a pending legal action to collect a debt on behalf of a client.

fair debt collection practices technical clarification act amends fair debt collection practices act exclude definition debt collector law firm licensed attorney serving filing conveying formal legal pleadings discovery requests documents pursuant applicable rules civil procedure communicating direction court law settlement conferences connection pending legal action collect debt behalf client


Summary: Mortgage Forgiveness Tax Relief Act of 2013 - Amends the Internal Revenue Code to extend through 2014 the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence.


Summary: Medicare Common Access Card Act of 2013 - Establishes a pilot program under title XVIII (Medicare) of the Social Security Act in order to utilize smart card technology for Medicare beneficiary and provider identification cards.

medicare common access card act establishes pilot program title xviii medicare social security act order utilize smart card technology medicare beneficiary provider identification cards


Summary:
Rebuilding Equity Act of 2013 - Directs the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises or GSEs) to each establish a voluntary program for eligible borrowers under which the GSE shall pay $1,000 toward the closing costs associated with applying for and receiving the refinancing when the borrower agrees to refinance into a fully amoritizing loan with a term not longer than 20 years.

Prohibits the amount of the closing costs that each GSE pays under the program during the 12 months following enactment of this Act from varying based on the term of the mortgage that the borrower agrees to refinance into.

 Requires the Director of the Federal Housing Finance Agency, for each of the next two 12-month periods, to: (1) adjust the amount of the portion of the closing costs that each GSE will pay in accordance with specified requirements.

Makes eligible for the program borrowers: (1) who qualify for the Home Affordable Refinance Program carried out by the GSEs, (2) whose subject property has a loan-to-value ratio of at least 105%, and (3) who refinances from a loan with an original 30-year term to a loan with a term of 20 years or less.

rebuilding equity act directs federal_national_mortgage_association fannie_mae federal_home_loan_mortgage_corporation freddie_mac government sponsored enterprises gses establish voluntary program eligible borrowers gse shall pay closing costs associated applying receiving refinancing borrower agrees refinance fully loan term longer years prohibits closing costs gse pays program months following enactment act varying based term mortgage borrower agrees refinance requires director federal_housing_finance_agency month periods adjust portion closing costs gse pay accordance specified requirements makes eligible program borrowers qualify home_affordable_refinance_program carried gses subject property loan value ratio refinances loan original year term loan term years


Summary:
Freedom and Mobility in Consumer Banking Act - Amends the Truth in Savings Act to prohibit depository institutions from: (1) prohibiting a consumer from closing a covered account (a checking, savings, or any other account that the Bureau of Consumer Financial Protection [CFPB] may include), regardless of whether the balance is positive, zero, or negative; (2) charging any fee to close such account; or (3) reopening such an account to apply subsequent debits after a consumer has requested the account to be closed, unless the consumer requests that the account be reopened.

Requires depository institutions to provide consumers with a description of the policies and procedures in place to close such accounts at the time the account is opened, upon request, and on the websites of such institutions.

Directs the CFPB to prescribe regulations relating to the closure of such accounts, including: (1) allowing consumers to receive available funds from a closed account in the form of a cashier's check, electronic funds transfer, or any other means offered by the institution or determined appropriate by the CFPB; (2) requiring depository institutions to provide consumers with certain information regarding any preauthorized transactions or direct deposits associated with an account before it is closed; (3) prohibiting a depository institution from reporting adverse information regarding such account to any consumer reporting agency if, at the time the account is closed, the account has a negative balance resulting solely from any fee assessed by the depository institution; and (4) establishing the terms under which a depository institution may report to a consumer reporting agency that an account had a negative closing balance, provided that the institution notifies the consumer and provides a reasonable period for repayment of the balance.

Directs the Comptroller General (GAO) to report to Congress and the CFPB regarding additional barriers that could limit the ability of a consumer to close a covered account. Requires the CFPB, after receiving such report, to determine whether regulations should be issued to remove such barriers.

freedom mobility consumer banking act amends truth savings act prohibit depository institutions prohibiting consumer closing covered account checking savings account bureau_of_consumer_financial_protection cfpb include regardless balance positive zero negative charging fee close account reopening account apply subsequent consumer requested account closed consumer requests account reopened requires depository institutions provide consumers description policies procedures place close accounts time account opened request websites institutions directs cfpb prescribe regulations relating closure accounts including allowing consumers receive available funds closed account form check electronic funds transfer means offered institution determined appropriate cfpb requiring depository institutions provide consumers certain information preauthorized transactions direct deposits associated account closed prohibiting depository institution reporting adverse information account consumer reporting agency time account closed account negative balance resulting solely fee assessed depository institution establishing terms depository institution report consumer reporting agency account negative closing balance provided institution notifies consumer provides reasonable period repayment balance directs comptroller general gao report congress cfpb additional barriers limit ability consumer close covered account requires cfpb receiving report determine regulations issued remove barriers


Summary:
(This measure has not been amended since it was introduced. The summary of that version is repeated here, with an updated short title.)

Mortgage Choice Act of 2014 - (Sec. 2) Amends the Truth in Lending Act with respect to requirements for disclosure to a consumer of points and fees information about a consumer credit transaction, secured by the consumer's principal dwelling, but which is not a residential mortgage transaction, a reverse mortgage transaction, or a transaction under an open end credit plan, when the total points and fees the consumer must pay at or before closing will exceed 8% of the total loan amount or $400, whichever is greater. (Such consumer credit transactions might include an equity credit line to which consumer purchases or leases may be charged.)

Excludes from the computation of such points and fees any escrow for future payment of insurance.

Modifies the criteria for exclusion from the computation of points and fees of certain reasonable charges elsewhere exempted from the computation of the finance charge in extensions of credit secured by an interest in real property. Excludes from points and fees any such reasonable charges even though a creditor receives compensation, but only in so far as the creditor or its affiliate retains the compensation as a result of their participation in an affiliated business arrangement.

(An "affiliated business arrangement" is one in which: (1) a person who is in a position to refer business incident to or a part of a real estate settlement service involving a federally related mortgage loan, or an associate of such person, has either an affiliate relationship with or a direct or beneficial ownership interest of more than 1% in a provider of settlement services; and (2) either of such persons directly or indirectly refers such business to that provider or affirmatively influences the provider's selection.)

Revises the additional requirement that such a reasonable charge be paid to a third party unaffiliated with the creditor. Requires the charge to be: (1) a bona fide third party charge not retained by the mortgage originator, creditor, or an affiliate; or (2) a fee or premium for title examination, title insurance, or similar purposes.

Modifies the conditions under which federal departments and agencies may exempt refinancings under a streamlined refinancing from an income verification requirement that, at the time a refinancing is consummated, the consumer has a reasonable ability to repay the loan and all applicable taxes, insurance, and assessments. Repeals the exception for bona fide third party charges not retained by the mortgage originator, creditor, or an affiliate from the requirement that total points and fees not exceed 3% of the total new loan amount. (Thus subjects such charges to the same 3% ceiling.)

measure amended introduced summary version repeated updated short title mortgage choice act sec amends truth lending act respect requirements disclosure consumer points fees information consumer credit transaction secured consumer principal dwelling residential mortgage transaction reverse mortgage transaction transaction open end credit plan total points fees consumer pay closing exceed total loan whichever greater consumer credit transactions include equity credit line consumer purchases leases charged excludes computation points fees escrow future payment insurance modifies criteria exclusion computation points fees certain reasonable charges exempted computation finance charge extensions credit secured interest real property excludes points fees reasonable charges creditor receives compensation far creditor affiliate retains compensation result participation affiliated business arrangement affiliated business arrangement person position refer business incident real estate settlement service involving federally related mortgage loan associate person affiliate relationship direct beneficial ownership interest provider settlement services persons directly indirectly refers business provider affirmatively influences provider selection revises additional requirement reasonable charge paid party unaffiliated creditor requires charge bona fide party charge retained mortgage originator creditor affiliate fee premium title examination title insurance similar purposes modifies conditions federal departments agencies exempt refinancings streamlined refinancing income verification requirement time refinancing consummated consumer reasonable ability repay loan applicable taxes insurance assessments repeals exception bona fide party charges retained mortgage originator creditor affiliate requirement total points fees exceed total new loan subjects charges ceiling


Summary:
Fair Debt Collection Improvement Act - Amends the Fair Debt Collection Practices Act to prohibit a debt collector from bringing, or threatening to bring, legal action against any consumer on a debt in which the statute of limitations has expired.

Requires a debt collector, in connection with the collection of debt in which the statute of limitations has expired, to disclose to the consumer that: (1) the debt has been transferred to the debt collector, (2) the creditor no longer holds the debt, (3) the debt collector may not bring legal action against the consumer to collect the debt because the statute of limitations has expired, and (4) any payment by the consumer towards the debt may cause the statute of limitations to reset.

fair debt collection improvement act amends fair debt collection practices act prohibit debt collector bringing threatening bring legal action consumer debt statute limitations expired requires debt collector connection collection debt statute limitations expired disclose consumer debt transferred debt collector creditor longer holds debt debt collector bring legal action consumer collect debt statute limitations expired payment consumer debt cause statute limitations reset


Summary:
Protecting Habitat Homeownership Act - Amends the Truth in Lending Act and the Real Estate Settlement Procedures Act of 1974 to exempt residential mortgage loans originated by non-profit low-income housing providers from certain minimum loan standards as well as appraisal, servicing, and billing requirements.

Defines "non-profit low-income housing provider" as a tax-exempt charitable organization that does not engage in the business of a loan originator or mortgage broker but does make residential mortgage loans: (1) to promote or facilitate homeownership for poor or low-income, disabled, or other disadvantaged persons or families; and (2) at interest rates lower than the bank prime loan rate; or (3) that are, after adjusting for inflation, no-interest loans or loans with interest rates significantly below the interest rates for loans for purchase of single-family housing generally available in the market. Prescribes additional requirements.

lending act real_estate_settlement_procedures_act exempt residential mortgage loans originated non profit low income housing providers certain minimum loan standards appraisal servicing billing requirements defines non profit low income housing provider tax exempt charitable organization engage business loan originator mortgage broker residential mortgage loans promote facilitate homeownership poor low income disabled disadvantaged persons families interest rates lower bank prime loan rate adjusting inflation interest loans loans interest rates significantly interest rates loans purchase single family housing generally available market prescribes additional requirements


Summary:
Permanently Protecting Tenants at Foreclosure Act of 2013 - 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.

permanently_protecting_tenants foreclosure act amends protecting_tenants foreclosure act repeal sunset date december making act permanent establishes private right action enforce compliance act


Summary:
Freddie Mac REMIC Reform Act of 2013 - 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, if such proceeds benefit the taxpayers of the United States.

(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 as debt obligations issued in the form of participation certificates, collateralized mortgage obligations, mortgage-backed commercial paper, and real estate mortgage investment conduits.

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.

freddie_mac reform act amends housing_and_community_development_act respect exercise options mortgage backed securities federal_home_loan_mortgage_corporation freddie_mac term conservatorship receivership freddie_mac director federal_housing_finance_agency fhfa directs freddie_mac fhfa conservator receiver exercise option mortgage backed security clean option freddie_mac issued residual holder security willing share excess proceeds exercise option fhfa conservator receiver proceeds benefit taxpayers united_states clean option allows transferor assets case mortgage assets buy outstanding asset values reduced substantially defines mortgage backed security debt obligations issued form participation certificates collateralized mortgage obligations mortgage backed commercial paper real estate mortgage investment conduits defines mortgage backed security clean option mortgage backed security option right redeem remaining classes security aggregate remaining principal mortgage optional redemption clean percentage directs director prohibit freddie_mac federal_national_mortgage_association fannie_mae issuing mortgage backed security clean option directs director ensure excess proceeds received result exercise clean options reduce budget deficit federal government


Summary: Homeowners Debt Relief Extension Act of 2014 - Amends the Internal Revenue Code to: (1) extend through 2015 the exclusion from gross income of imputed income from the discharge of indebtedness with respect to a principal residence; and (2) exclude from the definition of "domestic production gross receipts" for purposes of the tax deduction for income attributable to domestic production activities, gross receipts of a major integrated oil company (i.e., a company which has an average daily worldwide production of crude oil of at least 500,000 barrels for the taxable year and gross receipts in excess of $1 billion for its last taxable year ending during 2005) from the production, transportation, or distribution of oil, natural gas, or any primary product thereof.

homeowners debt relief extension act amends internal revenue code extend exclusion gross income imputed income discharge indebtedness respect principal residence exclude definition domestic production gross receipts purposes tax deduction income attributable domestic production activities gross receipts major integrated oil company company average daily worldwide production crude oil barrels taxable year gross receipts excess billion taxable year ending production transportation distribution oil natural gas primary product thereof


Summary:
Pay Back the Taxpayers Act of 2014 - Prohibits the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises or GSEs), during the term of any conservatorship or receivership, from making any contribution or transfer to, or allocating or setting aside any amounts for, the Housing Trust Fund or the Capital Magnet Fund.

Requires any amounts paid or repaid to the Secretary of the Treasury by a GSE in any form, during any conservatorship or receivership of the GSE, to be covered into the General Fund of the Treasury and used only for reducing the federal budget deficit.

pay taxpayers act prohibits federal_national_mortgage_association fannie_mae federal_home_loan_mortgage_corporation freddie_mac government sponsored enterprises gses term conservatorship receivership making contribution transfer allocating setting aside amounts housing_trust_fund capital_magnet_fund requires amounts paid repaid secretary treasury gse form conservatorship receivership gse covered general_fund treasury reducing federal budget deficit


Summary: Amends the Internal Revenue Code to extend through 2014 the tax deduction for mortgage insurance premiums.

amends internal revenue code extend tax deduction mortgage insurance premiums


Summary:
Community Bank Mortgage Servicing Asset Capital Requirements Study Act of 2014 - Directs the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (FDIC) (federal banking agencies) to study jointly the appropriate capital requirements for mortgage servicing assets for any banking institution other than an institution identified by the Financial Stability Board as a global systemically important bank.

Prohibits regulations to implement the Global Regulatory Framework for More Resilient Banks and Banking Systems issued by the Basel Committee on Banking Supervision on December 16, 2010, as revised on June 1, 2011, (Basel III capital requirements) with respect to mortgage servicing assets for nonsystemic banking institutions from taking effect until six months after the report on the study is issued to Congress.

directs board_of_governors federal_reserve_system office_of_the_comptroller_of_the_currency federal_deposit_insurance_corporation fdic federal banking agencies study jointly appropriate capital requirements mortgage servicing assets banking institution institution identified financial_stability_board global systemically important bank prohibits regulations implement global regulatory framework resilient banks issued basel_committee_on_banking_supervision december revised june basel iii capital requirements respect mortgage servicing assets banking institutions taking effect months report study issued congress


Summary:
Homeowner Tax Fairness Act - Amends the Internal Revenue Code to: (1) extend through 2016 the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence, (2) extend through 2015 the tax deduction for mortgage insurance premiums, (3) exclude from gross income any National Mortgage Settlement amount, and (4) deny a tax deduction for any National Mortgage Settlement amount that was paid in exchange for a full release of the potential civil claims of the United States under the Servicemembers Civil Relief Act. .

Defines "National Mortgage Settlement amount" as any amount received pursuant to the settlement in a legal action against Bank of America Corporation filed in U.S. District Court on March 12, 2012, which is: (1) a payment for transitional assistance; (2) a payment from the Borrower Payment Fund under the National Mortgage Settlement to a borrower whose home was finally sold or taken in foreclosure after December 31, 2007, and before January 1, 2014; or (3) a payment received as a result of a foreclosure or excess charge of interest that the Department of Justice (DOJ) has determined was not in compliance with the Servicemembers Civil Relief Act.

homeowner tax fairness act amends internal revenue code extend exclusion gross income income attributable discharge indebtedness principal residence extend tax deduction mortgage insurance premiums exclude gross income deny tax deduction paid exchange release potential civil claims united_states servicemembers civil relief act defines national mortgage settlement received pursuant settlement legal action filed district_court march payment transitional assistance payment borrower home finally sold taken foreclosure december january payment received result foreclosure excess charge interest department_of_justice doj determined compliance servicemembers_civil_relief_act