Foreclosure Prevention and Sound Mortgage Servicing Act of 2011

[AI summary unavailable — showing source text] Foreclosure Prevention and Sound Mortgage Servicing Act of 2011 - Amends the Real Estate Settlement Procedures Act of 1974 (RESPA) to require the mortgagee, upon default of a federally related mortgage loan secured by a lien on the borrower's principal residence, to engage in loss mitigation activities that provide for: (1) the long-term affordability of the loan, and (2) the maximum retention of home equity. Places upon the mortgagee of the senior lien on the residence the primary responsibility for such loss mitigation activities. Prohibits the mortgagee of any subordinate lien from interfering with or inhibiting the modification of the senior lien. Requires the mortgagee of a subordinate loan to comply with specified rules to modify the subordinate lien. Prohibits initiation, continuation, or completion of foreclosure on any mortgage loan if the mortgagee or servicer has at any time failed to comply with loss mitigation requirements. Makes filing of a certification of loss mitigation activities, with respect to a covered federally related mortgage loan, a condition precedent to: (1) any valid foreclosure sale, and (2) the filing of any action to recover possession of the residen…