HAMP Termination Act of 2011

Bill: 112-hr-839
Sponsor: Rep. McHenry, Patrick T. [R-NC-10]
Introduced: 2011-02-28 in the House
Policy area: Housing and Community Development
Subjects: Government lending and loan guarantees
Housing and community development funding
Housing finance and home ownership

Summary:
action_date: 2011-02-28
text: 
HAMP Termination Act of 2011 - Amends the Emergency Economic Stabilization Act of 2008 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.

action_date: 2011-03-11
text: 
HAMP Termination Act of 2011 - Amends the Emergency Economic Stabilization Act of 2008 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.
 
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.

action_date: 2011-03-11
text: 
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.
 


Legislative actions:
action_date: 2011-03-30
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2011-03-29
text: The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 839 as may be necessary to reflect the actions of the House in amending the bill, to include striking "paragraph (1)" on page 5, line 16, and inserting in lieu thereof "subparagraph (A)".
action_date: 2011-03-29
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2011-03-29
text: On passage Passed by recorded vote: 252 - 170, 1 Present (Roll no. 198).
action_date: 2011-03-29
text: Passed/agreed to in House: On passage Passed by recorded vote: 252 - 170, 1 Present (Roll no. 198).
action_date: 2011-03-29
text: On motion to recommit with instructions Failed by the Yeas and Nays: 185 - 238, 1 Present (Roll no. 197).
action_date: 2011-03-29
text: The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H2021)
action_date: 2011-03-29
text: DEBATE - The House proceeded with 10 minutes of debate on the Larsen (WA) motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment which adds a new paragraph entitled "CONTINUATION OF PROGRAM FOR MEMBERS OF THE ARMED FORCES AND GOLD STAR RECIPIENTS".
action_date: 2011-03-29
text: Mr. Larsen (WA) moved to recommit with instructions to Financial Services. (consideration: CR H2020-2022; text: CR H2020)
action_date: 2011-03-29
text: The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union. (text: CR H2003)
action_date: 2011-03-29
text: The previous question was ordered pursuant to the rule. (consideration: CR H2020)
action_date: 2011-03-29
text: The House rose from the Committee of the Whole House on the state of the Union to report H.R. 839.
action_date: 2011-03-29
text: UNFINISHED BUSINESS - The Chair announced that the unfinished business was the question of adoption of amendments which had been debated earlier and on which further proceedings had been postponed.
action_date: 2011-03-29
text: The Speaker designated the Honorable Ted Poe to act as Chairman of the Committee.
action_date: 2011-03-29
text: House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 170 and Rule XVIII.
action_date: 2011-03-29
text: Considered as unfinished business. (consideration: CR H2018-2022)
action_date: 2011-03-29
text: Committee of the Whole House on the state of the Union rises leaving H.R. 839 as unfinished business.
action_date: 2011-03-29
text: On motion that the committee rise Agreed to by voice vote.
action_date: 2011-03-29
text: Mrs. Biggert moved that the committee rise.
action_date: 2011-03-29
text: DEBATE - Pursuant to the provisions of H.Res. 170, the Committee of the Whole proceeded with ten minutes of debate on the Loretta Sanchez amendment.
action_date: 2011-03-29
text: POSTPONED PROCEEDINGS - At the conclusion of debate on the Maloney amendment, the Chair put the question on the amendment and by voice vote, announced the noes had prevailed. Mrs. Maloney demanded a recorded vote and the Chair postponed further proceedings on the amendment until later in the legislative day.
action_date: 2011-03-29
text: DEBATE - Pursuant to the provisions of H.Res. 170, the Committee of the Whole proceeded with ten minutes of debate on the Maloney amendment.
action_date: 2011-03-29
text: DEBATE - Pursuant to the provisions of H.Res. 170, the Committee of the Whole proceeded with ten minutes of debate on the Matsui amendment.
action_date: 2011-03-29
text: POSTPONED PROCEEDINGS - At the conclusion of debate on the Jackson Lee(TX) amendment, the Chair put the question on the amendment and by voice vote, announced the noes had prevailed. Ms. Jackson Lee(TX) demanded a recorded vote and the Chair postponed further proceedings on the amendment until later in the legislative day.
action_date: 2011-03-29
text: DEBATE - Pursuant to the provisions of H.Res. 170, the Committee of the Whole proceeded with ten minutes of debate on the Jackson Lee (TX) amendment.
action_date: 2011-03-29
text: DEBATE - Pursuant to the provisions of H.Res. 170, the Committee of the Whole proceeded with ten minutes of debate on the Waters amendment.
action_date: 2011-03-29
text: DEBATE - Pursuant to the provisions of H.Res. 170, the Committee of the Whole proceeded with ten minutes of debate on the Miller (NC) amendment.
action_date: 2011-03-29
text: DEBATE - Pursuant to the provisions of H.Res. 170, the Committee of the Whole proceeded with ten minutes of debate on the Canseco amendment.
action_date: 2011-03-29
text: DEBATE - Pursuant to the provisions of H.Res. 170, the Committee of the Whole proceeded with ten minutes of debate on the Ellison amendment.
action_date: 2011-03-29
text: POSTPONED PROCEEDINGS - At the conclusion of debate on the Hanna amendment, the Chair put the question on the amendment and by voice vote, announced the noes had prevailed. Ms. Biggert demanded a recorded vote and the Chair postponed further proceedings on the amendment until later in the legislative day.
action_date: 2011-03-29
text: DEBATE - Pursuant to the provisions of H.Res. 170, the Committee of the Whole proceeded with ten minutes of debate on the Hanna amendment.
action_date: 2011-03-29
text: GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 839.
action_date: 2011-03-29
text: The Speaker designated the Honorable Ted Poe to act as Chairman of the Committee.
action_date: 2011-03-29
text: House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 170 and Rule XVIII.
action_date: 2011-03-29
text: Rule provides for consideration of H.R. 839 and H.R. 861 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measures will be considered read. Specified amendments are in order. With respect to each measure, the resolution provides that the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill shall be considered as an original bill for the purpose of amendment and shall be considered as read.
action_date: 2011-03-29
text: Considered under the provisions of rule H. Res. 170. (consideration: CR H1994-2017)
action_date: 2011-03-15
text: Rules Committee Resolution H. Res. 170 Reported to House. Rule provides for consideration of H.R. 839 and H.R. 861 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order. With respect to each measure, the resolution provides that the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill shall be considered as an original bill for the purpose of amendment and shall be considered as read.
action_date: 2011-03-14
text: Supplemental report filed by the Committee on Financial Services, H. Rept. 112-31, Part II.
action_date: 2011-03-14
text: Supplemental report filed by the Committee on Financial Services, H. Rept. 112-31, Part II.
action_date: 2011-03-11
text: Placed on the Union Calendar, Calendar No. 15.
action_date: 2011-03-11
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 112-31.
action_date: 2011-03-11
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 112-31.
action_date: 2011-03-09
text: Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 23.
action_date: 2011-03-09
text: Committee Consideration and Mark-up Session Held.
action_date: 2011-03-02
text: Committee Hearings Held.
action_date: 2011-02-28
text: Referred to the House Committee on Financial Services.
action_date: 2011-02-28
text: Introduced in House
action_date: 2011-02-28
text: Introduced in House