To authorize the Director of the Bureau of Consumer Financial Protection to penalize persons who fail to maintain nuisance properties.
Zombie Property Relief Act of 2016
This bill authorizes the Consumer Financial Protection Bureau (CFPB) to assess a specified fine against a mortgagee that has failed to maintain residential real property that is subject to a federally-related mortgage in foreclosure (nuisance property) until ownership has been transferred to a new owner and the deed for such property transfer has been recorded.
The CFPB shall establish a system for reporting the existence of nuisance properties.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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