S. Amdt. 1016 - To Authorize and Remove Impediments to the Repayment of Funds Received Under the Troubled Asset Relief Program.

Helping Families Save Their Homes Act of 2009

S. 896 — 111^th Congress (2009–2010)

Keywords

Cramdown, Foreclosure, Mortgage

Summary

A bill to prevent mortgage foreclosures and enhance mortgage credit availability. (by CRS)

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Title

A bill to prevent mortgage foreclosures and enhance mortgage credit availability.

Other Titles

• Helping Families Save Their Homes Act of 2009
• Nationwide Mortgage Fraud Task Force Act of 2009
• Helping Families Save Their Homes Act of 2009
• Homeless Emergency Assistance and Rapid Transition to Housing Act of 2009
• Protecting Tenants at Foreclosure Act of 2009
• Public-Private Investment Program Improvement and Oversight Act of 2009
• Helping Families Save Their Homes Act of 2009
• Homeless Emergency Assistance and Rapid Transition to Housing Act of 2009
• Protecting Tenants at Foreclosure Act of 2009
• Public-Private Investment Program Improvement and Oversight Act of 2009

Sponsor

Christopher Dodd

Co-Sponsors

• Richard J. Durbin
• Charles E. Schumer

Subjects

• Housing and community development
• Bank accounts, deposits, capital
• Banking and financial institutions regulation
• Business ethics
• Congressional oversight
• Consumer credit
• Criminal investigation, prosecution, interrogation
• Department of Justice
• Executive agency funding and structure
• Federal Deposit Insurance Corporation (FDIC)
• Financial crises and stabilization
• Fraud offenses and financial crimes
• Government investigations
• Government lending and loan guarantees
• Housing and community development funding
• Housing finance and home ownership
• National Credit Union Administration

Related Bills

• H.R. 1106 (111^th) : Helping Families Save Their Homes Act of 2009
• S. 895 (111^th) : Helping Families Save Their Homes Act of 2009

Major Actions

Introduced	4/24/2009
Amendments (29 proposed)
Passed Senate	5/06/2009
Passed House	5/19/2009
Signed by President	5/20/2009

Bill History

• All Votes
• All Actions
• Amendments

	Chamber/Committee	Motion	Date	Result
select this vote	Senate	Durbin Amdt. No. 1014	4/30/2009	This amendment DID NOT PASS the Senate 45 voted YES 51 voted NO 3 voted present/not voting
currently selected	Senate	Vitter Amdt. No. 1016	5/04/2009	This amendment DID NOT PASS the Senate 39 voted YES 53 voted NO 7 voted present/not voting
select this vote	Senate	Vitter Amdt. No. 1017	5/04/2009	This amendment DID NOT PASS the Senate 36 voted YES 56 voted NO 7 voted present/not voting
select this vote	Senate	Amendment SA 1032 as modified agreed to in Senate by Unanimous Consent.	5/05/2009	PASSED by voice vote
select this vote	Senate	Amendment SA 1038 agreed to in Senate by Unanimous Consent.	5/05/2009	PASSED by voice vote
select this vote	Senate	Corker Amdt. No. 1019	5/05/2009	This amendment DID NOT PASS the Senate 31 voted YES 63 voted NO 5 voted present/not voting
select this vote	Senate	Thune Amdt. No. 1030	5/05/2009	This amendment DID NOT PASS the Senate 47 voted YES 48 voted NO 4 voted present/not voting
select this vote	Senate	Ensign Amdt. NO. 1043	5/05/2009	This amendment PASSED the Senate 96 voted YES 0 voted NO 3 voted present/not voting
select this vote	Senate	DeMint Amdt. No. 1026	5/05/2009	This amendment DID NOT PASS the Senate 36 voted YES 59 voted NO 4 voted present/not voting
select this vote	Senate	Amendment SA 1018 agreed to in Senate by Unanimous Consent.	5/06/2009	PASSED by voice vote
select this vote	Senate	Amendment SA 1020 as modified agreed to in Senate by Unanimous Consent.	5/06/2009	PASSED by voice vote
select this vote	Senate	Amendment SA 1033 agreed to in Senate by Unanimous Consent.	5/06/2009	PASSED by voice vote
select this vote	Senate	Amendment SA 1035 agreed to in Senate by Unanimous Consent.	5/06/2009	PASSED by voice vote
select this vote	Senate	Amendment SA 1039 as modified agreed to in Senate by Unanimous Consent.	5/06/2009	PASSED by voice vote
select this vote	Senate	Amendment SA 1040 agreed to in Senate by Voice Vote.	5/06/2009	PASSED by voice vote
select this vote	Senate	Kerry Amdt. No. 1036 As Modified	5/06/2009	This amendment PASSED the Senate 57 voted YES 39 voted NO 3 voted present/not voting
select this vote	Senate	Motion to Waive Sect. 202, S. Con. Res. 21, 110th Congress, Coburn Amdt. No. 1042	5/06/2009	This amendment DID NOT PASS the Senate 50 voted YES 46 voted NO 3 voted present/not voting
select this vote	Senate	Grassley Amdt. No. 1021 As Modified	5/06/2009	This amendment PASSED the Senate 95 voted YES 1 voted NO 3 voted present/not voting
select this vote	Senate	On Passage - Senate - S. 896 As Amended	5/06/2009	This bill PASSED the Senate 91 voted YES 5 voted NO 3 voted present/not voting
select this vote	House	On Passage - House - S 896 Helping Families Save Their Homes Act - Under Suspension of the Rules	5/19/2009	This bill PASSED the House 367 voted YES 54 voted NO 11 voted present/not voting

	Action	Date	Description
	Introduced	4/24/2009
		4/24/2009	Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
	Put on a legislative calendar	4/27/2009	Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 52.
		4/30/2009	Measure laid before Senate by unanimous consent.
		4/30/2009	Proposed amendment SA 1014, pursuant to the order of April 29, 2009, having failed to achieve the required 60 votes in the affirmative, was withdrawn in Senate.
		4/30/2009	Amendment SA 1016 proposed by Senator Vitter to Amendment SA 1018.
		4/30/2009	Amendment SA 1017 proposed by Senator Vitter to Amendment SA 1018.
		4/30/2009	Amendment SA 1018 proposed by Senator Dodd.
		4/30/2009	Amendment SA 1019 proposed by Senator Corker to Amendment SA 1018.
		4/30/2009	Amendment SA 1014 proposed by Senator Durbin.
select this vote	Vote	4/30/2009	Durbin Amdt. No. 1014
		5/01/2009	Considered by Senate.
		5/01/2009	Considered by Senate.
		5/01/2009	Considered by Senate.
		5/01/2009	Considered by Senate.
		5/01/2009	Considered by Senate.
		5/04/2009	Considered by Senate.
		5/04/2009	Considered by Senate.
		5/04/2009	Considered by Senate.
		5/04/2009	Considered by Senate.
		5/04/2009	Considered by Senate.
		5/04/2009	Amendment SA 1020 proposed by Senator Dodd for Senator Grassley to Amendment SA 1018.
		5/04/2009	Amendment SA 1021 proposed by Senator Dodd for Senator Grassley to Amendment SA 1018.
currently selected	Vote	5/04/2009	Vitter Amdt. No. 1016
select this vote	Vote	5/04/2009	Vitter Amdt. No. 1017
		5/05/2009	Considered by Senate.
		5/05/2009	Considered by Senate.
		5/05/2009	Considered by Senate.
		5/05/2009	Considered by Senate.
		5/05/2009	Considered by Senate.
		5/05/2009	Amendment SA 1026 proposed by Senator DeMint to Amendment SA 1018.
		5/05/2009	Amendment SA 1030 proposed by Senator Thune to Amendment SA 1018.
		5/05/2009	Amendment SA 1031 proposed by Senator Dodd for Senator Schumer to Amendment SA 1018.
		5/05/2009	Amendment SA 1032 proposed by Senator Dodd for Senator Feingold to Amendment SA 1018.
select this vote	Vote	5/05/2009	Amendment SA 1032 as modified agreed to in Senate by Unanimous Consent.
		5/05/2009	Amendment SA 1033 proposed by Senator Casey to Amendment SA 1018.
		5/05/2009	Amendment SA 1035 proposed by Senator Dodd for Senator Boxer to Amendment SA 1018.
		5/05/2009	Amendment SA 1036 proposed by Senator Dodd for Senator Kerry to Amendment SA 1018.
		5/05/2009	Amendment SA 1038 proposed by Senator Boxer to Amendment SA 1018.
select this vote	Vote	5/05/2009	Amendment SA 1038 agreed to in Senate by Unanimous Consent.
		5/05/2009	Amendment SA 1039 proposed by Senator Dodd for Senator Reed to Amendment SA 1018.
		5/05/2009	Amendment SA 1040 proposed by Senator Reed to Amendment SA 1018.
		5/05/2009	Amendment SA 1042 proposed by Senator Coburn to Amendment SA 1040.
		5/05/2009	Amendment SA 1043 proposed by Senator Ensign to Amendment SA 1038.
select this vote	Vote	5/05/2009	Corker Amdt. No. 1019
select this vote	Vote	5/05/2009	Thune Amdt. No. 1030
select this vote	Vote	5/05/2009	Ensign Amdt. NO. 1043
select this vote	Vote	5/05/2009	DeMint Amdt. No. 1026
		5/06/2009	Considered by Senate.
		5/06/2009	Message on Senate action sent to the House.
		5/06/2009	Considered by Senate.
select this vote	Vote	5/06/2009	Amendment SA 1018 agreed to in Senate by Unanimous Consent.
		5/06/2009	Considered by Senate.
select this vote	Vote	5/06/2009	Amendment SA 1020 as modified agreed to in Senate by Unanimous Consent.
		5/06/2009	Considered by Senate.
		5/06/2009	Considered by Senate.
		5/06/2009	Proposed amendment SA 1031 withdrawn in Senate.
		5/06/2009	Considered by Senate.
select this vote	Vote	5/06/2009	Amendment SA 1033 agreed to in Senate by Unanimous Consent.
		5/06/2009	Considered by Senate.
select this vote	Vote	5/06/2009	Amendment SA 1035 agreed to in Senate by Unanimous Consent.
		5/06/2009	Considered by Senate.
		5/06/2009	Considered by Senate.
select this vote	Vote	5/06/2009	Amendment SA 1039 as modified agreed to in Senate by Unanimous Consent.
		5/06/2009	Considered by Senate.
select this vote	Vote	5/06/2009	Amendment SA 1040 agreed to in Senate by Voice Vote.
		5/06/2009	Amendment SA 1042 ruled out of order by the chair.
		5/06/2009	Considered by Senate.
		5/06/2009	Point of order raised in Senate with respect to amendment SA 1042.
select this vote	Vote	5/06/2009	Kerry Amdt. No. 1036 As Modified
select this vote	Vote	5/06/2009	Motion to Waive Sect. 202, S. Con. Res. 21, 110th Congress, Coburn Amdt. No. 1042
select this vote	Vote	5/06/2009	Grassley Amdt. No. 1021 As Modified
select this vote	Senate Vote on Passage	5/06/2009	On Passage - Senate - S. 896 As Amended
		5/06/2009	Received in the House.
		5/06/2009	Held at the desk.
		5/19/2009	Message on House action received in Senate and at desk: House amendment to Senate bill.
		5/19/2009	Senate agreed to the House amendment by Unanimous Consent.
		5/19/2009	Message on Senate action sent to the House.
		5/19/2009	Mr. Frank (MA) moved to suspend the rules and pass the bill, as amended.
		5/19/2009	Considered under suspension of the rules.
		5/19/2009	DEBATE - The House proceeded with forty minutes of debate on S. 896.
		5/19/2009	At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
		5/19/2009	Considered as unfinished business.
select this vote	House Vote on Passage	5/19/2009	On Passage - House - S 896 Helping Families Save Their Homes Act - Under Suspension of the Rules
	Presented to President	5/20/2009	Cleared for White House.
	Presented to President	5/20/2009	Presented to President.
	Signed	5/20/2009	Signed by President.
	Enacted	5/20/2009	Became Public Law No: 111-22.

	Number	Sponsor	Date Offered	Status
select this vote	S. Amdt. 1014	Durbin, Richard [D-IL]	April 30, 2009	Offered on April 29, 2009.
	To prevent mortgage foreclosures and preserve home values. Show amendment details
	S. Amdt. 1015	Merkley, Jeff [D-OR]	April 30, 2009	Offered on April 29, 2009.
	Amendment information not available. Show amendment details
currently selected	S. Amdt. 1016	Vitter, David [R-LA]	April 30, 2009	Failed by roll call vote on May 4, 2009.
	To authorize and remove impediments to the repayment of funds received under the Troubled Asset Relief Program. Actions April 30, 2009, 12:00 am ET - Amendment SA 1016 proposed by Senator Vitter to Amendment SA 1018. May 1, 2009, 12:00 am ET - Considered by Senate. May 4, 2009, 12:00 am ET - Considered by Senate. May 4, 2009, 5:31 pm ET - Vitter Amdt. No. 1016 Full Text of this Amendment SA 1016. Mr. VITTER submitted an amendment intended to be proposed to amendment SA 1018 submitted by Mr. Dodd (for himself and Mr. Shelby) to the bill S. 896, to prevent mortgage foreclosures and enhance mortgage credit availability; as follows: At the appropriate place, insert the following: SEC. __. REPAYMENT OF TARP FUNDS. Section 111(g) of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5221(g)) is amended-- (1) by striking ``Subject to'' and inserting the following: ``(1) REPAYMENT PERMITTED.--Subject to''; (2) by inserting ``if, subsequent to such repayment, the TARP recipient is well capitalized (as determined by the appropriate Federal banking agency having supervisory authority over the TARP recipient)'' after ``waiting period,''; (3) by striking ``, and when such assistance is repaid, the Secretary shall liquidate warrants associated with such assistance at the current market price''; and (4) by adding at the end the following: ``(2) NO REPAYMENT PRECONDITION FOR WARRANTS.--A TARP recipient that exercises the repayment authority under paragraph (1) shall not be required to repurchase warrants from the Federal Government as a condition of repayment of assistance provided under the TARP. The Secretary shall, at the request of the relevant TARP recipient, repay the proceeds of warrants repurchased before the date of enactment of this paragraph.''. (As printed in the Congressional Record for the Senate on Apr 30, 2009.)
select this vote	S. Amdt. 1017	Vitter, David [R-LA]	April 30, 2009	Failed by roll call vote on May 4, 2009.
	To provide that the primary and foundational responsibility of the Federal Housing Administration shall be to safeguard and preserve the solvency of the Administration. Show amendment details
select this vote	S. Amdt. 1018	Dodd, Christopher [D-CT]	April 30, 2009	Passed by voice vote on May 6, 2009.
	In the nature of a substitute. Show amendment details
select this vote	S. Amdt. 1019	Corker, Bob [R-TN]	April 30, 2009	Failed by roll call vote on May 5, 2009.
	To address safe harbor for certain servicers. Show amendment details
select this vote	S. Amdt. 1020	Grassley, Charles [R-IA]	April 30, 2009	Passed by voice vote on May 6, 2009.
	To enhance the oversight authority of the Comptroller General of the United States with respect to expenditures under the Troubled Asset Relief Program. Show amendment details
select this vote	S. Amdt. 1021	Grassley, Charles [R-IA]	April 30, 2009	Passed by roll call vote on May 6, 2009.
	To amend chapter 7 of title 31, United States Code, to provide the Comptroller General additional audit authorities relating to the Board of Governors of the Federal Reserve System, and for other purposes. Show amendment details
	S. Amdt. 1022	Casey, Robert [D-PA]	April 30, 2009	Offered on April 30, 2009.
	Amendment information not available. Show amendment details
	S. Amdt. 1023	Kohl, Herbert [D-WI]	April 30, 2009	Offered on April 30, 2009.
	Amendment information not available. Show amendment details
	S. Amdt. 1024	Kerry, John [D-MA]	April 30, 2009	Offered on April 30, 2009.
	Amendment information not available. Show amendment details
	S. Amdt. 1025	Thune, John [R-SD]	April 30, 2009	Offered on April 30, 2009.
	Amendment information not available. Show amendment details
select this vote	S. Amdt. 1026	DeMint, Jim [R-SC]	April 30, 2009	Failed by roll call vote on May 5, 2009.
	To prohibit the use of Troubled Asset Relief Program funds for the purchase of common stock, and for other purposes. Show amendment details
	S. Amdt. 1027	Isakson, John [R-GA]	April 30, 2009	Offered on April 30, 2009.
	Amendment information not available. Show amendment details
	S. Amdt. 1028	Klobuchar, Amy [D-MN]	April 30, 2009	Offered on April 30, 2009.
	Amendment information not available. Show amendment details
select this vote	S. Amdt. 1030	Thune, John [R-SD]	May 1, 2009	Failed by roll call vote on May 5, 2009.
	To require the Secretary of the Treasury to use any amounts repaid by a financial institution that is a recipient of assistance under the Troubled Assets Relief Program to reduce the authorization level under the TARP. Show amendment details
	S. Amdt. 1031	Schumer, Charles [D-NY]	May 1, 2009	Withdrawn on May 6, 2009.
	To establish a multifamily mortgage resolution program. Show amendment details
select this vote	S. Amdt. 1032	Feingold, Russell [D-WI]	May 1, 2009	Passed by voice vote on May 5, 2009.
	To require the Congressional Oversight Panel to submit a special report on farm loan restructuring. Show amendment details
select this vote	S. Amdt. 1033	Casey, Robert [D-PA]	May 1, 2009	Passed by voice vote on May 6, 2009.
	To enhance State and local neighborhood stabilization efforts by providing foreclosure prevention assistance to families threatened with foreclosure and permitting Statewide funding competition in minimum allocation States. Show amendment details
	S. Amdt. 1034	Ensign, John [R-NV]	May 1, 2009	Offered on May 1, 2009.
	Amendment information not available. Show amendment details
select this vote	S. Amdt. 1035	Boxer, Barbara [D-CA]	May 1, 2009	Passed by voice vote on May 6, 2009.
	To require notice to consumers when a mortgage loan has been sold, transferred, or assigned to a third party. Show amendment details
select this vote	S. Amdt. 1036	Kerry, John [D-MA]	May 1, 2009	Passed by roll call vote on May 6, 2009.
	To protect the interests of bona fide tenants in the case of any foreclosure on any dwelling or residential real property, and for other purposes. Show amendment details
	S. Amdt. 1037	Kohl, Herbert [D-WI]	May 1, 2009	Offered on May 1, 2009.
	Amendment information not available. Show amendment details
select this vote	S. Amdt. 1038	Boxer, Barbara [D-CA]	May 1, 2009	Passed by voice vote on May 5, 2009.
	To provide for oversight of a Public-Private Investment Program, and to authorize monies for the Special Inspector General for the Troubled Asset Relief Program to audit and investigate recipients of non-recourse Federal loans under the Public Private Investment Program and the Term Asset Loan Facility. Show amendment details
select this vote	S. Amdt. 1039	Reed, John [D-RI]	May 1, 2009	Passed by voice vote on May 6, 2009.
	To address impediments to liquidating warrants, and for other purposes. Show amendment details
select this vote	S. Amdt. 1040	Reed, John [D-RI]	May 1, 2009	Passed by voice vote on May 6, 2009.
	To amend the McKinney-Vento Homeless Assistance Act to reauthorize the Act, and for other purposes. Show amendment details
	S. Amdt. 1041	Reed, John [D-RI]	May 1, 2009	Offered on May 1, 2009.
	Amendment information not available. Show amendment details
select this vote	S. Amdt. 1042	Coburn, Thomas [R-OK]	May 5, 2009	Offered on May 5, 2009.
	To establish a pilot program for the expedited disposal of Federal real property. Show amendment details
select this vote	S. Amdt. 1043	Ensign, John [R-NV]	May 5, 2009	Passed by roll call vote on May 5, 2009.
	Of a perfecting nature. Show amendment details