FORECLOSURE PREVENTION ACT
Amendments
Enact (H.R. 3221), S2403, S2407, S2412, S2413, S2415, S2419, S2423, S2487, S2495, S2497, S2498, S2499, S2503, S2504, S2505, S2506, S2507, S2513, S2514, S2515, S2519, S2521, S2524, S2544, S2547, S2548, S2549, S2550, S2551 [3AP], S2592, S2593, S2596, S2598, S2602, S2603, S2605, S2610, S2614, S2615, S2616, S2617 [4AP], S2628, S2642, S2644, S2645, S2646, S2647, S2648, S2649, S2650, S2651, S2653, S2656, S2658, S2662, S2663, S2664, S2665, S2667, S2668, S2669, S2670, S2705, S2706 [7AP], S2722, S2723 [8AP], S2806, S2807, S2808, S2810, S2822 [9AP], S2844, S2859 [10AP], S5781, S5783, S5785, S5799, S5808, S5840, S5904, S5906, S5907, S5908, S5909, S5910, S5911, S5912, S5913, S5914 [19JN], S5942, S5945 [20JN], S5965, S5966, S5967, S5968, S5969 [23JN], S6027, S6029, S6032, S6033, S6044, S6075, S6076, S6078, S6079 [24JN], S6138, S6139 [25JN], S6447, S6448 [8JY], S6736 [15JY], S7131, S7190 [23JY], H3204, H3219, H3291 [8MY], H6854, H6916 [23JY]
———consideration of Senate amendment (H. Res. 1363), H6851 [23JY]
———consideration of Senate amendments (H. Res. 1175), H3144 [7MY]
Articles and editorials
401(K)s Tapped To Save Homes, S2599 [4AP]
Housing Bill Hammers Taxpayers, S7495 [26JY]
Rescuing Fannie Mae or Freddie Mac Is Nonsense, S7468 [25JY]
Bills and resolutions
Enact (see S. 2636), S970 [13FE]
Enact (H.R. 3221): consideration of Senate amendment (see H. Res. 1363), H6824 [22JY]
———consideration of Senate amendments (see H. Res. 1175), H3108 [6MY]
Cloture motions
Enact (H.R. 3221), S2606 [4AP], S2726 [8AP], S5922 [20JN], S5978 [24JN], S6224 [26JN], S6355 [7JY], S6448 [8JY], S6520 [10JY], S7131 [23JY], S7436 [25JY]
Letters
Create a national licensing system for residential mortgage loan originators and develop minimum standards of conduct to be enforced by State regulators: Neil Milner, Conference of State Bank Supervisors, S2411 [3AP]
———Richard F. Gaylord, National Association of Realtors, S2411 [3AP]
Energy Information Administration analysis of Federal subsidies and support for the energy markets: Guy F. Caruso, Dept. of Energy, S2721 [8AP]
———Senator Alexander, S2721 [8AP]
Housing-related Government-sponsored enterprises regulation reform: Representative Bachus, Committee on Financial Services (House), H6995 [23JY]
LIHEAP funding: Coalition of Northeastern Governors, S5810 [19JN]
Mortgage foreclosure prevention counseling resources funding: Peg Malloy and David C. Brown, National NeighborhoodWatch Association, S2409 [3AP]
Provide for the limited continuation of clean energy production tax incentives and incentives to improve energy efficiency: Faith A. Cristol, Retail Industry Leaders Association, S2802 [9AP]
———Jack N. Gerard, American Chemistry Council, S2837 [10AP]
———Jay Timmons, National Association of Manufacturers, S2837 [10AP]
———Jeffrey D. DeBoer, Real Estate Roundtable (organization), S2802 [9AP]
———R. Bruce Josten, U.S. Chamber of Commerce, S2802 [9AP]
———several energy organizations, S2800, S2801 [9AP]
Provisions: Jon Corzine and Michael Rounds, National Governors Association, H6850, H6851 [23JY]
Lists
Organizations supporting H.R. 3221, provisions, S7226 [24JY]
Motions
Enact (H.R. 3221), S2403, S2422 [3AP], S2594 [4AP], S5776, S5812, S5814 [19JN], S7131 [23JY], H3219 [8MY], H6916 [23JY]
———consideration of Senate amendments (H. Res. 1175), H3145, H3146 [7MY]
Remarks in House
Credit: reform and provide accountability for mortgage practices, establish licensing and registration requirements for mortgage originators, and provide certain minimum standards for mortgage loans, H6842 [23JY]
———remove an impediment to troubled debt restructuring on the part of holders of residential mortgage loans, H3201 [8MY]
Dept. of HUD: make loans to States to acquire foreclosed housing and grants to States for related costs, H6841 [23JY]
Dept. of the Treasury: clarify authority of OTS and Office of Comptroller of the Currency to regulate and oversee depository institution products and services marketing and distribution system, H6997 [23JY]
———establish the National Affordable Housing Trust Fund, H6842 [23JY]
Enact (H.R. 3221), H2000 [3AP], H2273 [15AP], H2453 [17AP], H2557 [23AP], H6333 [9JY], H7857 [9SE], E1142 [4JN]
———consideration of Senate amendment (H. Res. 1363), H6840-H6854 [23JY]
———consideration of Senate amendments (H. Res. 1175), H3134-H3147, H3181 [7MY]
———corrections in engrossment of Senate amendments, H3311 [8MY]
———Senate amendment, H6828, H6854-H7011, H7054, H7055 [23JY], H7062 [24JY], H7332 [30JY], E1549, E1551 [24JY], E1555, E1556, E1559, E1563, E1564 [25JY], E1581 [29JY], E1602, E1604, E1606 [30JY], E1630 [31JY], E1693 [1AU]
———Senate amendments, H3058 [6MY], H3195, H3197-H3201, H3204-H3308 [8MY], H4326, H4334 [21MY], E864 [8MY], E898 [13MY], E921 [14MY], E956 [16MY], E983, E986, E988 [21MY]
FHA: create a voluntary program that provides mortgage refinancing assistance to allow families to stay in their homes, protect neighborhoods, and help stabilize the housing market, H3134, H3135, H3140 [7MY], H3198, H3199, H3303 [8MY]
———deny assistance to borrowers based solely on credit scores or any delinquency or default by the mortgagor, H3297 [8MY]
Financial institutions: enhance community development investments, H3134, H3140 [7MY]
Housing: clarify that State laws and local ordinances on foreclosure and foreclosed properties are not preempted by Federal law, H3296 [8MY]
———increase the conforming loan limit in high-cost areas, H3297 [8MY]
———modernize and update the National Housing Act and enable the FHA to use risk-based pricing to more effectively reach underserved borrowers, H3134, H3140 [7MY], H6841, H6995 [23JY]
———modernize the manufactured housing loan insurance program, H3197 [8MY]
———mortgage foreclosure prevention counseling resources funding, E983 [21MY]
———protect the interests of bona fide tenants in the case of any foreclosure on any dwelling or residential real property, H3137 [7MY]
———provide needed housing reform, H2000 [3AP], H3058 [6MY], H3134, H3181 [7MY], H3195, H3197-H3201, H3204-H3308 [8MY], H4326 [21MY], H6333 [9JY], H6828, H6840, H6854-H7011, H7054, H7055 [23JY], H7062 [24JY], H7332 [30JY], E864 [8MY], E898 [13MY], E921 [14MY], E956 [16MY], E983, E986, E988 [21MY], E1142 [4JN], E1549, E1551 [24JY], E1555, E1556, E1559, E1563, E1564 [25JY], E1581 [29JY], E1602, E1604, E1606 [30JY], E1630 [31JY], E1693 [1AU]
———reform the regulation of the housing-related Government-sponsored enterprises, H3134, H3140 [7MY], H6841, H6988-H7010 [23JY]
———simplify the historic rehabilitation tax credit, H7005 [23JY]
National Steel Car Ltd.: Alabama facility funding, H6989 [23JY]
NeighborWorks America (organization): allow preference in distribution of grants to counseling agencies that provide in-person mortgage counseling, H6998 [23JY], E1602 [30JY]
———establish a mortgage foreclosure counseling program for Armed Forces members returning from service abroad, H3293 [8MY]
Public debt: ceiling, H6996 [23JY]
Real estate: make permanent the increases in loan limits for Fannie Mae, Freddie Mac, and FHA, H3302 [8MY]
———prohibit home equity conversion mortgage lenders from requiring seniors to purchase annuities with reverse mortgages proceeds and provide other consumer protections to reverse mortgage borrowers, H3304 [8MY]
Taxation: modify the rehabilitation credit and the low-income housing credit, H3195 [8MY]
———provide a credit for certain home purchases, H3286, H3287 [8MY]
———provide assistance for housing, H3134, H3140 [7MY]
Truth in Lending Act: enhance disclosure of the terms of home mortgage loans, E1602 [30JY]
Remarks in Senate
Armed Forces: extend period after release from active duty during which a member is protected from mortgage foreclosure, S2378 [3AP]
Bankruptcy: amend laws relative to modification of certain mortgages on principal residences, S2371, S2375-S2377, S2380-S2383, S2387-S2395, S2402 [3AP], S2606 [4AP], S2717, S2718, S2723-S2725 [8AP], S2804 [9AP], S2841 [10AP]
———authorize courts to take certain actions relative to mortgage loans in bankruptcy, S2380, S2381 [3AP], S2718, S2723-S2725 [8AP]
Construction industries: allow carryback of certain net operating losses, S2726-S2728 [8AP], S2798 [9AP]
Credit: create a national licensing system for residential mortgage loan originators and develop minimum standards of conduct to be enforced by State regulators, S2383-S2385, S2410-S2412 [3AP]
———establish a national consumer credit usury rate, S2400, S2415-S2418 [3AP]
———provide for enhanced disclosures to consumers and enhanced regulation of mortgage brokers, S2386 [3AP], S2620-S2622 [7AP]
Dept. of HUD: clarify that Freddie Mac and Fannie Mae have no responsibility for funding housing entities under the Affordable Housing program, S5783, S5806-S5811 [19JN]
———Community Development Block Grant Program funding, S2841 [10AP]
———extend Philadelphia, PA, Moving to Work agreement, S2729 [8AP]
———implement Government-sponsored enterprises regulatory reform, S5981, S5982, S5983 [24JN]
———improve congressional oversight of housing assistance programs to prevent fraud, waste, and abuse, S2783, S2784, S2785 [9AP]
———increase section 8 vouchers, expand Home Investment Partnership (HOME) Program, reauthorize Public and Assisted Housing Drug Elimination Program, and create a National Affordable Housing Trust Fund, S7503 [26JY]
———make loans to States to acquire foreclosed housing and grants to States for related costs, S7217 [24JY]
———prohibit use of funding to provide Community Development Block Grant Program assistance for the purchase of foreclosed homes from financial institutions, S2782, S2783 [9AP], S5384 [9JN]
———redirect Community Development Block Grant Program funds to support land banks for homes damaged or destroyed as a result of Hurricanes Katrina or Rita, S2788-S2790 [9AP]
———submit a congressional report on Federal housing assistance activities, grants, and programs to ensure fiscal responsibility, S2783, S2785 [9AP]
Dept. of the Treasury: establish the National Affordable Housing Trust Fund, S5806 [19JN]
Dept. of Veterans Affairs: increase benefits for specially adapted housing for disabled veterans, S6590 [11JY]
———increase specially adapted housing benefits for disabled veterans, S2605 [4AP]
———provide a temporary increase in the maximum loan guaranty amount for guaranteed housing loans, S2842 [10AP], S6590 [11JY], S7502 [26JY]
Enact (H.R. 3221), S2367-S2371, S2375-S2396, S2400-S2424 [3AP], S2591-S2610 [4AP], S2619-S2625, S2628-S2632 [7AP], S2710, S2716-S2731, S2733-S2738 [8AP], S2780, S2782-S2790, S2792, S2794, S2797-S2811 [9AP], S2829, S2832, S2836-S2861 [10AP], S3932 [7MY], S5384 [9JN]
———House amendments, S5772-S5776, S5781-S5788, S5790, S5791, S5796, S5814-S5819 [19JN], S5921, S5925-S5928 [20JN], S5949, S5952-S5954 [23JN], S5975-S5978, S5980-S5983, S6004, S6082 [24JN], S6097, S6101, S6105-S6108, S6112-S6114, S6137-S6143 [25JN], S6185, S6270, S6274 [26JN], S6354-S6356 [7JY], S6494 [9JY], S6516-S6521, S6524, S6540, S6543, S6547 [10JY], S6585, S6590-S6595 [11JY], S6646 [14JY], S6713, S6735 [15JY], S6884 [17JY], S7089, S7111, S7112, S7130, S7131 [23JY], S7217, S7223-S7226, S7248, S7255, S7256, S7268-S7270 [24JY], S7436, S7438, S7443, S7448-S7451, S7454, S7456, S7458, S7459, S7468-S7472 [25JY], S7489-S7496, S7498-S7506, S7511, S7513, S7518 [26JY], S7566 [28JY], S7620 [29JY], S7985, S7999 [1AU]
———unanimous-consent agreement, S7433 [24JY]
———unanimous-consent request, S5975 [24JN], S6141, S6142 [25JN], S7255 [24JY]
Enact (S. 2636), S992 [13FE], S993 [14FE], S1183-S1185 [26FE], S1724 [7MR], S8828 [16SE]
FHA: establish a maximum interest rate on FHA-insured mortgages, S2722 [8AP]
———prohibit funding for HOPE for Homeowners loan program, S5781, S5808-S5812 [19JN], S5927 [20JN], S5980, S5982 [24JN], S7438 [25JY]
FTC: grant rulemaking authority to allow regulation and prosecution of companies engaged in deceptive mortgage advertising, S2623 [7AP]
Housing: create a Federal Board of Certification to regulate the secondary mortgage market, S5953 [23JN]
———enhance mortgage disclosure requirements with additional safeguards for certain adjustable rate mortgages and loans, S5782 [19JN], S6138 [25JN]
———ensure States with low populations receive a fair share of mortgage revenue bond allocation increases, S2738 [8AP]
———increase benefits for specially adapted housing for disabled veterans, S6590 [11JY]
———modify volume cap for housing bonds, S2603 [4AP]
———mortgage foreclosure prevention counseling resources funding, S2407-S2409 [3AP], S2628 [7AP]
———permit qualified mortgage bonds to be used to refinance homes of persons in areas affected by Hurricanes Katrina, Rita, and Wilma, S2603-S2605 [4AP], S2790 [9AP]
———place income limits on persons receiving Federal mortgage assistance, S6105 [25JN]
———prohibit lobbying and political donations from Fannie Mae (Government-sponsored enterprise) and Freddie Mac (Government-sponsored enterprise), S7255, S7256 [24JY], S7454 [25JY], S7492, S7494 [26JY]
———protect property and security of homeowners facing foreclosure proceedings, S5804 [19JN]
———provide needed housing reform, S2367-S2371, S2375-S2396, S2400-S2424 [3AP], S2591-S2610 [4AP], S2619-S2625, S2628-S2632 [7AP], S2710, S2716-S2731, S2733-S2738 [8AP], S2780, S2782-S2790, S2792, S2794, S2797-S2811 [9AP], S2829, S2832, S2836-S2861 [10AP], S3932 [7MY], S5384 [9JN], S5772-S5776, S5781-S5788, S5790, S5791, S5796, S5814-S5819 [19JN], S5921, S5925-S5928 [20JN], S5949, S5952-S5954 [23JN], S5975-S5978, S5980-S5983, S6004, S6082 [24JN], S6101, S6105-S6108, S6112-S6114, S6137-S6143 [25JN], S6185, S6270, S6274 [26JN], S6354-S6356 [7JY], S6494 [9JY], S6512, S6516-S6521, S6524, S6540, S6543, S6547 [10JY], S6585, S6590-S6595 [11JY], S6646 [14JY], S6713 [15JY], S6884 [17JY], S7089, S7111, S7112, S7130, S7131 [23JY], S7217, S7223-S7226, S7248, S7255, S7256, S7268-S7270 [24JY], S7438, S7443, S7448-S7451, S7454, S7456, S7458, S7459, S7468, S7472 [25JY], S7489-S7496, S7498-S7506, S7511, S7513, S7518 [26JY], S7566 [28JY], S7620 [29JY], S7985, S7999 [1AU]
———reform the regulation of the housing-related Government-sponsored enterprises, S2737 [8AP], S7217 [24JY], S7438 [25JY], S7504 [26JY], S7566 [28JY]
———require second independent appraisals for homes which are resold within a certain time period, S2729 [8AP]
Investments: provide for the penalty-free use of retirement funds for mortgage delinquency relief, S2421 [3AP], S2599, S2600 [4AP], S2625 [7AP], S5952 [23JN], S5988 [24JN]
LIHEAP: funding, S5809 [19JN], S5976 [24JN]
NeighborWorks America (organization): foreclosure mitigation counseling services funding, S2422 [3AP], S2718, S2722 [8AP]
Office of Federal Housing Enterprise Oversight: improve regulation of appraisal standards for mortgages purchased or guaranteed by Government-sponsored enterprises, S5805, S5807 [19JN], S6140 [25JN]
Real estate: prohibit home equity conversion mortgage lenders from requiring seniors to purchase annuities with reverse mortgages proceeds and provide other consumer protections to reverse mortgage borrowers, S2417 [3AP]
Servicemembers Civil Relief Act: limit maximum interest rate per year for mortgages for servicemembers during military service and one year after service, S7471 [25JY]
Taxation: allow a credit against income tax for the purchase of a principal residence by a first-time homebuyer, S2419-S2421 [3AP], S2840 [10AP], S5811 [19JN]
———allow amended returns to take into account receipt of certain hurricane-related casualty loss grants by disallowing previous deductions and waive deadline on GO Zone property construction for bonus depreciation, S2391, S2413, S2415 [3AP], S2594 [4AP], S2794 [9AP], S7112 [23JY]
———allow certain companies to substitute alternative minimum tax and research and development tax credits in lieu of bonus depreciation deductions, S2404-S2407 [3AP], S2592 [4AP]
———allow homeowners to deduct mortgage interest points when refinancing home mortgages, S2730 [8AP]
———clarify the ``general public use'' requirements of the low-income housing credit, S7620 [29JY]
———delay implementation of merchant card transaction reporting requirements until cost of changes to businesses are identified, S5975 [24JN]
———extend renewable energy production tax credit and encourage all emerging renewable sources of electricity, S2597 [4AP], S2623, S2629-S2632 [7AP], S2720, S2733 [8AP], S2797, S2803 [9AP], S2837-S2839 [10AP]
———index for inflation the exclusion of capital gains from the sale of a principal residence, S2412, S2413, S2422, S2423 [3AP]
———mortgage revenue bond financing, S2378-S2380 [3AP]
———provide a credit for certain home purchases, S2382 [3AP], S2717 [8AP]
———provide assistance for housing, S7501 [26JY]
———provide for the limited continuation of clean energy production incentives and incentives to improve energy efficiency, S2418 [3AP], S2595-S2598, S2600 [4AP], S2629-S2632 [7AP], S2720 [8AP], S2785, S2792, S2800-S2804, S2806 [9AP], S2832, S2837-S2839, S2841 [10AP], S5926, S5927 [20JN], S5976 [24JN], S6107, S6141 [25JN], S6185 [26JN]
———provide tax incentives for employers to offer group legal plans that provide a benefit for real estate and foreclosure review, S2602 [4AP], S2725, S2726 [8AP]
———treatment of interest for purposes of the foreign tax credit, S7500 [26JY]
Truth in Lending Act: enhance disclosure of the terms of home mortgage loans, S2804 [9AP]
U.S. Housing Act: exempt qualified public housing agencies from the requirement of preparing an annual public housing agency plan, S5800 [19JN]
Reports filed
Consideration of Senate Amendment to H.R. 3221, Provisions: Committee on Rules (House) (H. Res. 1363) (H. Rept. 110-767), H6824 [22JY]
Consideration of Senate Amendments to H.R. 3221, Provisions: Committee on Rules (House) (H. Res. 1175) (H. Rept. 110-622), H3108 [6MY]
Rulings of the Chair
Enact (H.R. 3221), S5812 [19JN]
Statements
Housing-Related Government-Sponsored Enterprises Regulation Reform: Several Housing Organizations, H6993 [23JY]
Provide for the Limited Continuation of Clean Energy Production Tax Incentives and Incentives To Improve Energy Efficiency: Several Energy Organizations, S2801 [9AP]
Provisions: Executive Office of the President, H6850 [23JY]
Summaries
Provisions (H.R. 3221): Senate Amendments, H3138 [7MY]
Texts of
H. Res. 1175, consideration of Senate amendments to H.R. 3221, provisions, H3134 [7MY]
H. Res. 1363, considerataion of Senate amendment to H.R. 3221, provisions, H6840 [23JY]
H.R. 3221, provisions, S2844-S2859 [10AP], S3087-S3102 [16AP], H3204-H3219-H3282 [8MY], H6916-H6987 [23JY]