[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

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                               AMENDMENT