[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 839 Reported in House (RH)]

                                                  Union Calendar No. 15
112th CONGRESS
  1st Session
                                H. R. 839

                          [Report No. 112-31]

To amend the Emergency Economic Stabilization Act of 2008 to terminate 
     the authority of the Secretary of the Treasury to provide new 
   assistance under the Home Affordable Modification Program, while 
preserving assistance to homeowners who were already extended an offer 
  to participate in the Program, either on a trial or permanent basis.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 28, 2011

Mr. McHenry (for himself, Mr. Bachus, Mr. Hensarling, Mrs. Biggert, Mr. 
  Neugebauer, Mr. Garrett, Mr. Grimm, and Mrs. Capito) introduced the 
   following bill; which was referred to the Committee on Financial 
                                Services

                             March 11, 2011

              Additional sponsor: Mr. Coffman of Colorado

                             March 11, 2011

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed
 [Strike out all after the enacting clause and insert the part printed 
                               in italic]


_______________________________________________________________________

                                 A BILL


 
To amend the Emergency Economic Stabilization Act of 2008 to terminate 
     the authority of the Secretary of the Treasury to provide new 
   assistance under the Home Affordable Modification Program, while 
preserving assistance to homeowners who were already extended an offer 
  to participate in the Program, either on a trial or permanent basis.


 


    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

<DELETED>SECTION 1. SHORT TITLE.</DELETED>

<DELETED>    This Act may be cited as the ``The HAMP Termination Act of 
2011''.</DELETED>

<DELETED>SEC. 2. TERMINATION OF AUTHORITY.</DELETED>

<DELETED>    Section 120 of the Emergency Economic Stabilization Act of 
2008 (12 U.S.C. 5230) is amended by adding at the end the following new 
subsection:</DELETED>
<DELETED>    ``(c) Termination of Authority To Provide New Assistance 
Under the Home Affordable Modification Program.--</DELETED>
        <DELETED>    ``(1) In general.--Except as provided under 
        paragraph (2), after the date of the enactment of this 
        subsection the Secretary may not provide any assistance under 
        the Home Affordable Modification Program under the Making Home 
        Affordable initiative of the Secretary, authorized under this 
        Act, on behalf of any homeowner.</DELETED>
        <DELETED>    ``(2) Protection of existing obligations on behalf 
        of homeowners already extended an offer to participate in the 
        program.--Paragraph (1) shall not apply with respect to 
        assistance provided on behalf of a homeowner who, before the 
        date of the enactment of this subsection, was extended an offer 
        to participate in the Home Affordable Modification Program on a 
        trial or permanent basis.''.</DELETED>

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``The HAMP Termination Act of 2011''.

SEC. 2. TERMINATION OF AUTHORITY.

    Section 120 of the Emergency Economic Stabilization Act of 2008 (12 
U.S.C. 5230) is amended by adding at the end the following new 
subsection:
    ``(c) Termination of Authority To Provide New Assistance Under the 
Home Affordable Modification Program.--
            ``(1) In general.--Except as provided under paragraph (2), 
        after the date of the enactment of this subsection the 
        Secretary may not provide any assistance under the Home 
        Affordable Modification Program under the Making Home 
        Affordable initiative of the Secretary, authorized under this 
        Act, on behalf of any homeowner.
            ``(2) Protection of existing obligations on behalf of 
        homeowners already extended an offer to participate in the 
        program.--Paragraph (1) shall not apply with respect to 
        assistance provided on behalf of a homeowner who, before the 
        date of the enactment of this subsection, was extended an offer 
        to participate in the Home Affordable Modification Program on a 
        trial or permanent basis.
            ``(3) Study of use of program by members of the armed 
        forces, veterans, and gold star recipients.--
                    ``(A) Study.--The Secretary shall conduct a study 
                to determine the extent of usage of the Home Affordable 
                Modification Program by, and the impact of such Program 
                on, covered homeowners.
                    ``(B) Report.--Not later than the expiration of the 
                90-day period beginning on the date of the enactment of 
                this subsection, the Secretary shall submit to the 
                Congress a report setting forth the results of the 
                study under paragraph (1) and identifying best 
                practices, derived from studying the Home Affordable 
                Modification Program, that could be applied to existing 
                mortgage assistance programs available to covered 
                homeowners.
                    ``(C) Covered homeowner.--For purposes of this 
                subsection, the term `covered homeowner' means a 
                homeowner who is--
                            ``(i) a member of the Armed Forces of the 
                        United States on active duty or the spouse or 
                        parent of such a member;
                            ``(ii) a veteran, as such term is defined 
                        in section 101 of title 38, United States Code; 
                        or
                            ``(iii) eligible to receive a Gold Star 
                        lapel pin under section 1126 of title 10, 
                        United States Code, as a widow, parent, or next 
                        of kin of a member of the Armed Forces person 
                        who died in a manner described in subsection 
                        (a) of such section.
            ``(4) Publication of member availability for assistance.--
        Not later than 5 days after the date of the enactment of this 
        subsection, the Secretary of the Treasury shall publish to its 
        Website on the World Wide Web in a prominent location, large 
        point font, and boldface type the following statement: `The 
        Home Affordable Modification Program (HAMP) has been 
        terminated. If you are having trouble paying your mortgage and 
        need help contacting your lender or servicer for purposes of 
        negotiating or acquiring a loan modification, please contact 
        your Member of Congress to assist you in contacting your lender 
        or servicer for the purpose of negotiating or acquiring a loan 
        modification.'.''.
                                                  Union Calendar No. 15

112th CONGRESS

  1st Session

                               H. R. 839

                          [Report No. 112-31]

_______________________________________________________________________

                                 A BILL

To amend the Emergency Economic Stabilization Act of 2008 to terminate 
     the authority of the Secretary of the Treasury to provide new 
   assistance under the Home Affordable Modification Program, while 
preserving assistance to homeowners who were already extended an offer 
  to participate in the Program, either on a trial or permanent basis.

_______________________________________________________________________

                             March 11, 2011

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed