[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 896 Engrossed Amendment House (EAH)]
In the House of Representatives, U. S.,
May 19, 2009.
Resolved, That the bill from the Senate (S. 896) entitled ``An Act
to prevent mortgage foreclosures and enhance mortgage credit
availability.'', do pass with the following
AMENDMENT:
Page 2, before line 1, insert the following new heading:
DIVISION A--PREVENTING MORTGAGE FORECLOSURES
Page 2, line 2, strike ``Act'' and insert ``division''.
Page 2, line 5, strike ``Act'' and insert ``division''.
Strike line 10 on page 16 and all that follows through page
17, line 23 and insert the following:
(a) In General.--Section 2301(c) of the Foreclosure Prevention Act
of 2008 (42 U.S.C. 5301 note) is amended--
(1) by redesignating paragraph (3) as paragraph (4); and
(2) by inserting after paragraph (2) the following new
paragraph:
``(3) Exception for certain states.--Each State that has
received the minimum allocation of amounts pursuant to the
requirement under section 2302 may, to the extent such State
has fulfilled the requirements of paragraph (2), distribute any
remaining amounts to areas with homeowners at risk of
foreclosure or in foreclosure without regard to the percentage
of home foreclosures in such areas.''.
Page 22, line 24, strike the closing quotation marks and
the 2nd period.
Page 22, after line 24, insert the following new
subsection:
``(g) Rule of Construction.--No provision of subsection (b) or (d)
shall be construed as affecting the liability of any servicer or person
as described in subsection (d) for actual fraud in the origination or
servicing of a loan or in the implementation of a qualified loss
mitigation plan, or for the violation of a State or Federal law,
including laws regulating the origination of mortgage loans, commonly
referred to as predatory lending laws.''.
Page 29, line 8, insert ``or assign the rights of any
amounts due to the Secretary to'' after ``with''.
Page 30, line 9, insert ``or existing subordinate
mortgage'' after ``mortgage''.
Page 30, line 22, strike ``$2,316,000,000'' and insert
``$1,244,000,000''.
Page 35, line 23, strike ``203(c)'' and insert ``230(c)''.
Page 69, strike line 1 and all that follows through line 15
and insert the following new subparagraph:
(H) require each manager of a public-private fund
to identify for the Secretary, on a periodic basis,
each investor that, individually or together with
affiliates, directly or indirectly, holds equity
interests equal to at least 10 percent of the equity
interest of the fund including if such interests are
held in a vehicle formed for the purpose of directly or
indirectly investing in the fund
Page 70, beginning on line 21, strike ``the Public Private
Investment'' and all that follows through ``Board),'' on page 71,
line 2, and insert ``any program that is funded in whole or in
part by funds appropriated under the Emergency Economic
Stabilization Act of 2008,''.
Page 72, line 11, strike ``$2,331,000,000'' and insert
``$1,259,000,000''.
Page 72, after line 11, insert the following new
subsection:
(g) Regulations.--The Secretary of the Treasury may prescribe such
regulations or other guidance as may be necessary or appropriate to
define terms or carry out the authorities or purposes of this section.
Page 80, line 17, insert ``or the child, spouse, or parent
of the mortgagor'' after ``mortgagor''.
Page 80, line 20, strike ``or'' and insert ``and''.
Page 80, line 23, insert ``or the unit's rent is reduced or
subsidized due to a Federal, State, or local subsidy'' before the
period at the end.
Page 81, line 10, strike ``initial''.
Page 96, line 22, strike ``eliminate''.
Attest:
Clerk.
111th CONGRESS
1st Session
S. 896
_______________________________________________________________________
AMENDMENT