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HR 7326 110th Congress House

Systematic Foreclosure Prevention and Mortgage Modification Act

Official title: To establish a systematic mortgage modification program at the Federal Deposit Insurance Corporation, and for other purposes.

Introduced: December 10, 2008 Introduced by: Waters, Maxine Democratic · California See on congress.gov
Housing and Community Development Economics and Public FinanceFederal aid to housingForeclosureHousing finance
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Loan defaultsLossesMortgages
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 10, 2008
Referred to the House Committee on Financial Services.
Dec 10, 2008
Introduced in House
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 Latest action December 10, 2008

Referred to the House Committee on Financial Services.

 Plain-English summary Congressional Research Service

Systematic Foreclosure Prevention and Mortgage Modification Act - Directs the Chairperson of the Federal Deposit Insurance Corporation (FDIC) to establish a systematic foreclosure prevention and mortgage modification program by: (1) paying mortgage servicers $1,000 to cover expenses for each loan modified according to specified standards; and (2) sharing up to 50% of any losses incurred if a modified loan should subsequently re-default.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 3
D
Cleaver, Emanuel
Missouri · Dec 10, 2008
 D
Green, Al
Texas · Dec 10, 2008
 D
Velázquez, Nydia M.
New York · Dec 10, 2008
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 7326: Systematic Foreclosure Prevention and Mortgage Modification Act. 110th Congress. Open America. https://openamerica.io/bill/110-HR-7326/
MLA
"H.R. 7326: Systematic Foreclosure Prevention and Mortgage Modification Act." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-HR-7326/.
Bluebook (legal)
H.R. 7326, 110th Cong. (2026), https://openamerica.io/bill/110-HR-7326/.
Markdown link
[H.R. 7326: Systematic Foreclosure Prevention and Mortgage Modification Act](https://openamerica.io/bill/110-HR-7326/)
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