An amendment numbered 3 printed in Part A of House Report 112-34 to ensure that all taxpayer funds saved from elimination of the Home Affordable Modification Program (HAMP) are used to reduce the deficit.

1. 1

   Change 1: Inserts new text on page 5, line 3

   InsertsPrinted page

   Inserted: (3) Deficit reduction.--

   Inserted: (A) Use of unobligated funds.--Notwithstanding any other provision of this title, the amounts described in subparagraph (B) shall not be available after the date of the enactment of this subsection for obligation or expenditure under the Home Affordable Modification Program of the Secretary, but should be covered into the General Fund of the Treasury and should be used only for reducing the budget deficit of the Federal Government.

   Inserted: (B) Identification of unobligated funds.--The amounts described in this subparagraph are any amounts made available under title I of the Emergency Economic Stabilization Act of 2008 that--

   Inserted: (i) have been allocated for use, but not yet obligated as of the date of the enactment of this subsection, under the Home Affordable Modification Program of the Secretary; and

   Inserted: (ii) are not necessary for providing assistance under such Program on behalf of homeowners who, pursuant to paragraph (2), may be provided assistance after the date of the enactment of this subsection.

   Original wording

   Page 5, after line 3, insert the following new paragraph:

2. 2

   Change 2: Replaces “(3)” with “(4)”

   ReplacesPage 5, line 4Printed page

   In H.R. 839 · Reported in House

   "(2) Protection of existing obligations on behalf of homeowners already extended an offer to participate in the program.--Paragraph (1) shall not apply with respect to assistance provided on behalf of a homeowner who, before the date of the enactment of this subsection, was extended an offer to participate in the Home Affordable Modification Program on a trial or permanent basis.

   "([struck: 3][inserted: 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 homeowners.

   Original wording

   Page 5, line 4, strike “(3)” and insert “(4)”.

3. 3

   Change 3: Replaces “(4)” with “(5)”

   ReplacesPage 6, line 13Printed page

   In H.R. 839 · Reported in House

   "(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 described in subsection (a) of such section.

   "([struck: 4][inserted: 5]) Publication of member availability for assistance.-- Not later than 5 days after the date of the enactment of this subsection, the Secretary 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 Program (HAMP) has been terminated. If you are having trouble paying your mortgage and need help contacting your lender or servicer for purposes of negotiating or acquiring a loan modification, please contact your Member of Congress to assist you in contacting your lender or servicer for the purpose of negotiating or acquiring a loan modification.'.". Union Calendar No. 15

   Original wording

   Page 6, line 13, strike “(4)” and insert “(5)”.

Read automatically from the Congressional Record. Check the original before relying on it.

As printed