First Titus bill offers housing help

WASHINGTON -- Rep. Dina Titus' first bill in Congress requires mortgage lenders to notify homeowners they may qualify for federal help to avoid foreclosures.

The bill introduced today requires that loan servicers that receive federal mortgage subsidies to send notices each quarter to all their customers. The mailings would notify homeowners of government programs that could help with refinancing, loan modifications and other forms of mortgage relief.

Like many lawmakers from districts that have been hit by mortgage distress, Titus, D-Nev., has reported receiving floods of call from constituents wondering if they might qualify for assistance.

The intent of the bill, she said, is to provide homeowners with accurate information, heading off scam artists who prey on people in trouble with the banks.

"With the abundance of federal programs currently available to homeowners, it is important that we ensure our constituents have clear information about these federal programs and how they can begin the process of receiving assistance," she said in a statement signed also by cosponsor Rep. Dennis Cardoza, D-Calif.

Titus made it her first bill in Congress, reflecting the impact of the housing crisis in her suburban Las Vegas district.

The bill is similar to an amendment Titus tried to attach to a housing bill in March. She withdrew the amendment after Rep. Barney Frank, D-Mass., the chairman of the House Financial Services Committee, asked her to rewrite it.