# Housing and Economic Recovery Act of 2008/Division B
## DIVISION B—FORECLOSURE PREVENTION
### SEC. 2001. SHORT TITLE.

    This division may be cited as the ``Foreclosure Prevention Act of 2008´´.

### SEC. 2002. EMERGENCY DESIGNATION.

    For purposes of Senate enforcement, all provisions of this division are designated as emergency requirements and necessary to meet emergency needs pursuant to section 204 of S.Con.Res. 21 (110th Congress), the concurrent resolution on the budget for fiscal year 2008.
       TITLE I—FHA MODERNIZATION ACT OF 2008
          2101. Short title.
          Subtitle A—Building American Homeownership
             Sec. 2111. Short title.
             Sec. 2112. Maximum principal loan obligation.
             Sec. 2113. Cash investment requirement and prohibition of seller-funded down payment assistance.
             Sec. 2114. Mortgage insurance premiums.
             Sec. 2115. Rehabilitation loans.
             Sec. 2116. Discretionary action.
             Sec. 2117. Insurance of condominiums.
             Sec. 2118. Mutual Mortgage Insurance Fund.
             Sec. 2119. Hawaiian home lands and Indian reservations.
             Sec. 2120. Conforming and technical amendments.
             Sec. 2121. Insurance of mortgages.
             Sec. 2122. Home equity conversion mortgages.
             Sec. 2123. Energy efficient mortgages program.
             Sec. 2124. Pilot program for automated process for borrowers without sufficient credit history.
             Sec. 2125. Homeownership preservation.
             Sec. 2126. Use of FHA savings for improvements in FHA technologies, procedures, processes, program performance, staffing, and salaries.
             Sec. 2127. Post-purchase housing counseling eligibility improvements.
             Sec. 2128. Pre-purchase homeownership counseling demonstration.
             Sec. 2129. Fraud prevention.
             Sec. 2130. Limitation on mortgage insurance premium increases.
             Sec. 2131. Savings provision.
             Sec. 2132. Implementation.
             Sec. 2133. Moratorium on implementation of risk-based premiums.
          Subtitle B—Manufactured Housing Loan Modernization
             Sec. 2141. Short title.
             Sec. 2142. Purposes.
             Sec. 2143. Exception to limitation on financial institution portfolio.
             Sec. 2144. Insurance benefits.
             Sec. 2145. Maximum loan limits.
             Sec. 2146. Insurance premiums.
             Sec. 2147. Technical corrections.
             Sec. 2148. Revision of underwriting criteria.
             Sec. 2149. Prohibition against kickbacks and unearned fees.
             Sec. 2150. Leasehold requirements.
       TITLE II—MORTGAGE FORECLOSURE PROTECTIONS FOR SERVICEMEMBERS
          Sec. 2201. Temporary increase in maximum loan guaranty amount for certain housing loans guaranteed by the Secretary of Veterans Affairs.
          Sec. 2202. Counseling on mortgage foreclosures for members of the Armed Forces returning from service abroad.
          Sec. 2203. Enhancement of protections for servicemembers relating to mortgages and mortgage foreclosures.
       TITLE III—EMERGENCY ASSISTANCE FOR THE REDEVELOPMENT OF ABANDONED AND FORECLOSED HOMES
          Sec. 2301. Emergency assistance for the redevelopment of abandoned and foreclosed homes.
          Sec. 2302. Nationwide distribution of resources.
          Sec. 2303. Limitation on use of funds with respect to eminent domain.
          Sec. 2304. Limitation on distribution of funds.
          Sec. 2305. Counseling intermediaries.
       TITLE IV—HOUSING COUNSELING RESOURCES
          Sec. 2401. Housing counseling resources.
          Sec. 2402. Credit counseling.
       TITLE V—MORTGAGE DISCLOSURE IMPROVEMENT ACT
          Sec. 2501. Short title.
          Sec. 2502. Enhanced mortgage loan disclosures.
          Sec. 2503. Community Development Investment Authority for depository institutions.
       TITLE VI—VETERANS HOUSING MATTERS
          Sec. 2601. Home improvements and structural alterations for totally disabled members of the Armed Forces before discharge or release from the Armed Forces.
          Sec. 2602. Eligibility for specially adapted housing benefits and assistance for members of the Armed Forces with service-connected disabilities and individuals residing outside the United States.
          Sec. 2603. Specially adapted housing assistance for individuals with severe burn injuries.
          Sec. 2604. Extension of assistance for individuals residing temporarily in housing owned by a family member.
          Sec. 2605. Increase in specially adapted housing benefits for disabled veterans.
          Sec. 2606. Report on specially adapted housing for disabled individuals.
          Sec. 2607. Report on specially adapted housing assistance for individuals who reside in housing owned by a family member on permanent basis.
          Sec. 2608. Definition of annual income for purposes of section 8 and other public housing programs.
          Sec. 2609. Payment of transportation of baggage and household effects for members of the Armed Forces who relocate due to foreclosure of leased housing.
       TITLE VII—SMALL PUBLIC HOUSING AUTHORITIES PAPERWORK REDUCTION ACT
          Sec. 2701. Short title.
          Sec. 2702. Public housing agency plans for certain qualified public housing agencies.
       TITLE VIII—HOUSING PRESERVATION
          Subtitle A—Preservation Under Federal Housing Programs
             Sec. 2801. Clarification of disposition of certain properties.
             Sec. 2802. Eligibility of certain projects for enhanced voucher assistance.
             Sec. 2803. Transfer of certain rental assistance contracts.
             Sec. 2804. Public housing disaster relief.
             Sec. 2805. Preservation of certain affordable housing.
          Subtitle B—Coordination of Federal Housing Programs and Tax Incentives for Housing
             Sec. 2831. Short title.
             Sec. 2832. Approvals by Department of Housing and Urban Development.
             Sec. 2833. Project approvals by rural housing service.
             Sec. 2834. Use of FHA loans with housing tax credits.
             Sec. 2835. Other HUD programs.
       TITLE IX—MISCELLANEOUS
          Sec. 2901. Homeless assistance.
          Sec. 2902. Increasing access and understanding of energy efficient mortgages.