/  H.R. 839—The HAMP Termination Act of 2011

H.R. 839 - The HAMP Termination Act of 2011

Bill Text

  • Text of H.R. 839 PDF XML

    The HAMP Termination Act of 2011 (text as ordered reported) 

  • Text of H. Rept. 112-31 PDF XML

    Report from the Committee on Financial Services

  • Text of H. Rept. 112-31 Part 2 PDF XML

    Supplemental report from the Committee on Financial Services

Rule Information

 

COMMITTEE ACTION:
REPORTED BY VOICE VOTE on Tuesday, March 15, 2011.

FLOOR ACTION FOR H.RES. 170: 
Adopted by record vote of 241-180 on Wednesday, March 16, 2011. 

MANAGERS: Sessions/Polis 

1. Structured rule for H.R. 839.

2. Waives all points of order against consideration of H.R. 839.

3. Provides one hour of general debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services.

4. Provides that the amendment in the nature of a substitute recommended by the Committee on Financial Services shall be considered as an original bill for the purpose of amendment and shall be considered as read.

5. Waives all points of order against the committee amendment in the nature of a substitute.

6. Makes in order only those amendments printed in Part A of the Rules Committee report accompanying the resolution.  Provides that each amendment made in order may be offered only in the order printed in the report, may be offered only by a Member designated in the report, shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question in the House or in the Committee of the Whole.

7. Waives all points of order against amendments printed in Part A of the report.

8. Provides one motion to recommit H.R. 839 with or without instructions.

9. Structured rule for H.R. 861.

10. Waives all points of order against consideration of H.R. 861.

11.  Provides one hour of general debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services. 

12. Provides that the amendment in the nature of a substitute recommended by the Committee on Financial Services shall be considered as an original bill for the purpose of amendment and shall be considered as read.

13. Waives all points of order against the committee amendment in the nature of a substitute. 

14.  Makes in order only those amendments printed in Part B of the Rules Committee report accompanying the resolution.  Provides that each amendment made in order may be offered only in the order printed in the report (except that amendment number 9 and amendment number 10 may be offered only en bloc), may be offered only by a Member designated in the report, shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question in the House or in the Committee of the Whole.

15. Waives all points of order against the amendments printed in Part B of the report.

16. Provides one motion to recommit H.R. 861 with or without instructions. 

 

Amendments

#Version #Sponsor(s)PartySummaryStatus
5Version 1Canseco (TX)RepublicanRevised Would ensure that all taxpayer funds saved from elimination of the Home Affordable Modification Program (HAMP) are used to reduce the deficit.Made In Order
1Version 1Cardoza (CA)DemocratWould require Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) each to carry out a one-year program providing for the refinancing of qualified single-family housing mortgages it owns or guarantees.Submitted
3Version 1Hanna (NY)RepublicanRevised Would include findings detailing the Home Affordable Modification Program’s (HAMP) flaws and state that terminating HAMP would save taxpayers approximately $1.4 billion.Made In Order
11Version 1Inslee (WA)DemocratRevised Would direct the Secretary, upon termination of the Home Affordable Modification Program, to undertake a study of the use of the program by covered homeowners, and also of the effectiveness of the program in assisting these homeowners. Following completion of that study, the Secretary would be required to implement a new program to assist the same group of homeowners based on the study’s findings.Made In Order
13Version 1Jackson Lee (TX) - 1Democrat(LATE) Would require a study and report submitted to Congress determining the successful aspects of HAMP, and legislative recommendations for a replacement loan modification program.Made In Order
6Version 1Maloney (NY)DemocratWould include a list of the number of trial and permanent modifications started under the HAMP program in each state as well as the number of seriously delinquent mortgages across the country that will not be able to be eligible for HAMP modifications because Congress is terminating the program. Made In Order
7Version 1Matsui (CA)DemocratWould require mortgage lenders and services participating in the HAMP program to continue to publicly report basic loan modification information.Made In Order
2Version 1McCarthy, Carolyn (NY)DemocratWould expand the grandfather provision within the legislation to include homeowners who, as of March 1, 2011, have submitted paperwork for HAMP, or have made a verifiable request to the servicer seeking a modification.Submitted
8Version 1Miller, Brad (NC)DemocratWould establish servicing standards for servicers remaining in the HAMP program, including creation of single point of contact and single electronic record for borrowers, suspension of foreclosure proceedings when a modification is ongoing, and transparency for borrowers denied modification under the HAMP program.Submitted
9Version 1Miller, Brad (NC)DemocratWould establish servicing standards for servicers remaining in the HAMP program including single point of contact and single electronic record, suspension of foreclosure proceedings, and strengthening of loss mitigation protocols for servicers under HAMP guidelines.Submitted
12Version 1Quigley (IL)DemocratWould include Congressional findings on various facts about the HAMP program, including cost and number of permanent modifications.Made In Order
4Version 1Sanchez, Loretta (CA)DemocratWould add Sense of Congress language to the end of the bill that banks are encouraged to work with homeowners to provide loan modifications for those qualifying and assist homeowners and prospective homeowners with foreclosure prevention programs and information on loan modifications.Made In Order
10Version 1Waters (CA)DemocratWould require the Secretary of the Treasury to send a letter to HAMP applicants that they will not be considered for a modification due to termination of the program and that they can contact their Member of Congress for assistance in negotiating with or acquiring a loan modification from their servicer.Made In Order