H.R. 839 (112th): HAMP Termination Act of 2011

Introduced:
Feb 28, 2011 (112th Congress, 2011–2013)
Status:
Died (Passed House)
Sponsor
Patrick McHenry
Representative for North Carolina's 10th congressional district
Party
Republican
Text
Read Text »
Last Updated
Mar 30, 2011
Length
8 pages
Related Bills
S. 527 (identical)

Referred to Committee
Last Action: Mar 09, 2011

H.R. 6688 (Related)
Averting the Fiscal Cliff Act

Referred to Committee
Last Action: Dec 19, 2012

 
Status

This bill was introduced in a previous session of Congress and was passed by the House on March 29, 2011 but was never passed by the Senate.

Progress
Introduced Feb 28, 2011
Referred to Committee Feb 28, 2011
Reported by Committee Mar 09, 2011
Passed House Mar 29, 2011
 
Full Title

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.

Summary

No summaries available.

Votes
Mar 29, 2011 6:58 p.m.
Agreed to 247/170
Mar 29, 2011 7:03 p.m.
Failed 182/239
Mar 29, 2011 7:09 p.m.
Failed 173/249
Mar 29, 2011 7:45 p.m.
Passed 252/170

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


3/11/2011--Passed House amended.
HAMP Termination Act of 2011 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to terminate the authority of the Secretary of the Treasury to provide new mortgage modification assistance under the Home Affordable Modification Program (HAMP), except with respect to existing obligations on behalf of homeowners already extended an offer to participate in the program.
Declares unavailable after the enactment of this Act for obligation or expenditure under HAMP any amounts made available for HAMP under EESA title I that: (1) have been allocated for use but not yet obligated, and (2) are not necessary for providing HAMP assistance on behalf of those homeowners already extended an offer to participate in HAMP. Urges that such amounts be covered into the General Fund of the Treasury for use only in reducing the budget deficit of the federal government.
Directs the Secretary to study: (1) the extent to which HAMP is used by homeowners who are active duty members of the Armed Forces (or their spouses or parents), veterans, or Gold Star-eligible widows, parents, or next of kin of Armed Forces members who died in military operations; and (2) the impact of the program on them.
Requires the Secretary to publish on the departmental website a statement as to:
(1) termination of HAMP; and
(2) the availability of a Member of Congress to assist any borrower having trouble paying a mortgage and needing help contacting the borrower's lender or servicer to negotiate or acquire a loan modification.
Requires the Secretary to give notice of this information to each individual who applied for HAMP and will not be considered for a mortgage modification because of the program's termination.
Declares that Congress encourages banks to work with homeowners to: (1) provide loan modifications to those that are eligible, and (2) assist them as well as prospective homeowners with foreclosure prevention programs and information on loan modifications.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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