An amendment numbered 3 printed in House Report 111-98 to provide assistance to the Neighborhood Reinvestment Corporation for activities, in connection with servicers of residential mortgage loans, to inform borrowers under such loans who are delinquent with respect to payments due under such loans of the dangers of fraudulent activities associated with foreclosure.

1. Adds SEC. 410. WARNINGS TO HOMEOWNERS OF FORECLOSURE RESCUE SCAMS at the end of title IV

   Adds a section

   Inserted: SEC. 410. WARNINGS TO HOMEOWNERS OF FORECLOSURE RESCUE SCAMS.

   Inserted: (a) Assistance to NRC.--Notwithstanding any other provision of law, of any amounts made available for any fiscal year pursuant to section 106(a)(4)(F) of the Housing and Urban Development Act of 1968 (12 U.S.C. 1701x(a)(4)(F)) (as added by section 404 of this Act), 10 percent shall be used only for assistance to the Neighborhood Reinvestment Corporation for activities, in consultation with servicers of residential mortgage loans, to provide notice to borrowers under such loans who are delinquent with respect to payments due under such loans that makes such borrowers aware of the dangers of fraudulent activities associated with foreclosure.

   Inserted: (b) Notice.--The Neighborhood Reinvestment Corporation, in consultation with servicers of residential mortgage loans, shall use the amounts provided pursuant to subsection (a) to carry out activities to inform borrowers under residential mortgage loans--

   Inserted: (1) that the foreclosure process is complex and can be confusing;

   Inserted: (2) that the borrower may be approached during the foreclosure process by persons regarding saving their home and they should use caution in any such dealings;

   Inserted: (3) that there are Federal Government and nonprofit agencies that may provide information about the foreclosure process, including the Department of Housing and Urban Development; and

   Inserted: (4) that they should contact their lender immediately, contact the Department of Housing and Urban Development to find a housing counseling agency certified by the Department to assist in avoiding foreclosure, or visit the Department's website regarding tips for avoiding foreclosure; and (5) of the telephone number of the loan servicer or successor, the telephone number of the Department of Housing and Urban Development housing counseling line, and the Uniform Resource Locators (URLs) for the Department of Housing and Urban Development websites for housing counseling and for tips for avoiding foreclosure.

   Original wording

   At the end of title IV, add the following new section:

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As printed