IIB 
112TH CONGRESS 
1ST SESSION 
H. R. 839 
IN THE SENATE OF THE UNITED STATES 
MARCH 30, 2011 
Received; read twice and referred to the Committee on Banking, Housing, and 
Urban Affairs 
AN ACT 
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 Af-
fordable Modification Program, while preserving assist-
ance to homeowners who were already extended an offer 
to participate in the Program, either on a trial or perma-
nent basis. 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘The HAMP Termi-
nation Act of 2011’’. 
SEC. 2. CONGRESSIONAL FINDINGS. 
The Congress finds the following: 
(1) According to the Department of the Treas-
ury— 
(A) the Home Affordable Modification Pro-
gram (HAMP) is designed to ‘‘help as many as 
3 to 4 million financially struggling homeowners 
avoid foreclosure by modifying loans to a level 
that is affordable for borrowers now and sus-
tainable over the long term’’; and 
(B) as of February 2011, only 607,600 ac-
tive permanent mortgage modifications were 
made under HAMP. 
(2) Many homeowners whose HAMP modifica-
tions were canceled suffered because they made fu-
tile payments and some of those homeowners were 
even forced into foreclosure. 
(3) The Special Inspector General for TARP 
reported that HAMP ‘‘benefits only a small portion 
of distressed homeowners, offers others little more 
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than false hope, and in certain cases causes more 
harm than good’’. 
(4) Approximately $30 billion was obligated by 
the Department of the Treasury to HAMP, however, 
approximately only $840 million has been disbursed. 
(5) Terminating HAMP would save American 
taxpayers approximately $1.4 billion, according to 
the Congressional Budget Office. 
SEC. 3. 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 initia-
tive 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.— 
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Paragraph (1) shall not apply with respect to assist-
ance provided on behalf of a homeowner who, before 
the date of the enactment of this subsection, was ex-
tended an offer to participate in the Home Afford-
able Modification Program on a trial or permanent 
basis. 
‘‘(3) DEFICIT REDUCTION.— 
‘‘(A) USE OF UNOBLIGATED FUNDS.—Not-
withstanding any other provision of this title, 
the amounts described in subparagraph (B) 
shall not be available after the date of the en-
actment of this subsection for obligation or ex-
penditure under the Home Affordable Modifica-
tion Program of the Secretary, but should be 
covered into the General Fund of the Treasury 
and should be used only for reducing the budg-
et deficit of the Federal Government. 
‘‘(B) IDENTIFICATION
OF
UNOBLIGATED 
FUNDS.—The amounts described in this sub-
paragraph are any amounts made available 
under title I of the Emergency Economic Sta-
bilization Act of 2008 that— 
‘‘(i) have been allocated for use, but 
not yet obligated as of the date of the en-
actment of this subsection, under the 
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Home Affordable Modification Program of 
the Secretary; and 
‘‘(ii) are not necessary for providing 
assistance under such Program on behalf 
of homeowners who, pursuant to para-
graph (2), may be provided assistance 
after the date of the enactment of this sub-
section. 
‘‘(4) 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 home-
owners. 
‘‘(B) REPORT.—Not later than the expira-
tion of the 90-day period beginning on the date 
of the enactment of this subsection, the Sec-
retary shall submit to the Congress a report 
setting forth the results of the study under sub-
paragraph (A) and identifying best practices, 
derived from studying the Home Affordable 
Modification Program, that could be applied to 
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existing mortgage assistance programs available 
to covered homeowners. 
‘‘(C) COVERED
HOMEOWNER.—For pur-
poses 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 de-
fined 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 de-
scribed in subsection (a) of such section. 
‘‘(5) PUBLICATION OF MEMBER AVAILABILITY 
FOR ASSISTANCE.—Not later than 5 days after the 
date of the enactment of this subsection, the Sec-
retary 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 Pro-
gram (HAMP) has been terminated. If you are hav-
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ing trouble paying your mortgage and need help con-
tacting your lender or servicer for purposes of nego-
tiating or acquiring a loan modification, please con-
tact your Member of Congress to assist you in con-
tacting your lender or servicer for the purpose of ne-
gotiating or acquiring a loan modification.’. 
‘‘(6) NOTIFICATION TO HAMP APPLICANTS RE-
QUIRED.— 
‘‘(A) IN
GENERAL.—Not later than 30 
days after the date of the enactment of this 
subsection, the Secretary of the Treasury shall 
inform each individual who applied for the 
Home Affordable Modification Program and 
will not be considered for a modification under 
such Program due to termination of such Pro-
gram under this subsection— 
‘‘(i) that such Program has been ter-
minated; 
‘‘(ii) that loan modifications under 
such Program are no longer available; 
‘‘(iii) of the name and contact infor-
mation of such individual’s Member of 
Congress; and 
‘‘(iv) that the individual should con-
tact his or her Member of Congress to as-
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sist the individual in contacting the indi-
vidual’s lender or servicer for the purpose 
of negotiating or acquiring a loan modi-
fication.’’. 
SEC. 4. SENSE OF CONGRESS. 
The Congress encourages banks to work with home-
owners to provide loan modifications to those that are eli-
gible. The Congress also encourages banks to work and 
assist homeowners and prospective homeowners with fore-
closure prevention programs and information on loan 
modifications. 
Passed the House of Representatives March 29, 
2011. 
Attest: 
KAREN L. HAAS, 
Clerk. 
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