Political Quotes

“Madam President, I ask unanimous consent that the reading of the amendment be dispensed with. The PRESIDING OFFICER. Without objection, it is so ordered. The amendment is as follows: (Purpose: To establish clear regulatory standards for mortgage servicers, and for other purposes) At the end, add the following: TITLE ___--REGULATION OF MORTGAGE SERVICING SEC. ___1. SHORT TITLE. This title may be cited as the ``Regulation of Mortgage Servicing Act of 2011''. SEC. ___2. DEFINITIONS. In this title, the following definitions shall apply: (1) Alternative to foreclosure.--The term ``alternative to foreclosure''-- (A) means a course of action with respect to a mortgage offered by a servicer to a borrower as an alternative to a covered foreclosure action; and (B) includes a short sale and a deed in lieu of foreclosure. (2) Borrower.--The term ``borrower'' means a mortgagor under a mortgage who is in default or at risk of imminent default, as determined by the Director, by rule. (3) Covered foreclosure action.--The term ``covered foreclosure action'' means a judicial or nonjudicial foreclosure. (4) Director.--The term ``Director'' means the Director of the Bureau of Consumer Financial Protection.…”