Summary: Consumer Credit Fairness Act - Amends federal bankruptcy law to require the bankruptcy court to disallow any claim arising from a high cost consumer credit transaction. Defines "high cost consumer credit transaction" as an extension of credit by a creditor resulting in a consumer debt with an applicable annual percentage rate (APR), including related costs and fees, that exceeds, at any time while the credit is outstanding, the lesser of: (1) the sum of 15% and the yield on U.S. Treasury securities having a 30-year period of maturity; or (2) 36%. Excludes the petition for relief of a debtor with any debts arising from a high cost consumer credit transaction from mandatory consideration for dismissal, or conversion to a case under chapter 11 or 13, based upon a finding of substantial abuse.

consumer credit fairness act amends federal bankruptcy law require bankruptcy court disallow claim arising high cost consumer credit transaction defines high cost consumer credit transaction extension credit creditor resulting consumer debt applicable annual percentage rate apr including related costs fees exceeds time credit outstanding lesser sum yield securities having year period maturity excludes petition relief debtor debts arising high cost consumer credit transaction mandatory consideration dismissal conversion case chapter based finding substantial abuse


Summary: First-Time Homebuyers' Tax Credit Act of 2009 - Amends the Internal Revenue Code to allow an individual taxpayer who qualifies as a first-time homebuyer (i.e., an individual who had no ownership interest in a principal residence within the past two years) a one-time refundable credit for up to $20,000 of the purchase price of a principal residence. Reduces such credit for taxpayers with adjusted gross incomes exceeding $75,000 ($150,000 for married couples filing jointly).

amends internal revenue code allow individual taxpayer qualifies time homebuyer individual ownership interest principal residence past years time refundable credit purchase price principal residence reduces credit taxpayers adjusted gross incomes exceeding married couples filing jointly


Summary: Real Estate Mortgage Investment Conduit Improvement Act of 2009 - Establishes special rules for modification or disposition of a troubled asset (qualified mortgages or foreclosure property) under the Troubled Asset Relief Program (TARP) by real estate mortgage investment conduits (REMICs). Declares that: (1) such a modification or disposition shall not be treated as a prohibited transaction under the Internal Revenue Code; (2) an interest in the REMIC shall not fail to be treated as a regular interest solely because of such modification or disposition; and (3) any proceeds resulting from such modification or disposition shall be treated as amounts received under qualified mortgages. Specifies terms of the instruments governing the conduct of servicers or trustees with respect to qualified mortgages which shall terminates a REMIC. Directs the Secretary of the Treasury to establish and implement a home mortgage loan relief program under TARP.

improvement act establishes special rules modification disposition troubled asset qualified mortgages foreclosure property troubled_asset_relief_program tarp real estate mortgage investment conduits declares modification disposition shall treated prohibited transaction internal revenue code interest shall fail treated regular interest solely modification disposition proceeds resulting modification disposition shall treated amounts received qualified mortgages specifies terms instruments governing conduct servicers trustees respect qualified mortgages shall terminates directs secretary treasury establish implement home mortgage loan relief program tarp


Summary: Credit Card Reform Act of 2009 - Amends the Fair Credit Reporting Act to permit a consumer reporting agency to furnish a consumer report in connection with any credit or insurance transaction that is not initiated by the consumer only if the report indicates that the consumer is age 21 or older. Allows 18-year olds to elect to have their name and address included in any agency list. Amends the Truth in Lending Act to prohibit a credit card issuer from changing the terms of a credit card under an open end consumer credit plan: (1) before the scheduled contract expiration or renewal date; and (2) until the issuer has published all contract changes in any mandatory disclosures. Establishes a cardholder right to repay all existing balances on a terminated or expired credit card account under the terms of the account in effect before the termination or expiration.Imposes limits upon increases of interest rates and finance charges on a credit card account before its scheduled renewal date.Permits an increase in the annual percentage rate (APR) as a penalty only for specific, material contract violations of a consumer directly related to the account that are specified in the contract as grounds for an increase. Bans retroactive rate increases.Prohibits a credit card issuer from imposing adverse consequences for late payment if the cardholder's payment is postmarked or initiated by electronic funds transfer on or before the required postmark date. Requires a credit card issuer to verify, when the account is opened or the credit limit increased, that the consumer will be able to make the scheduled payments, based on a consideration of current and expected income, current obligations, and employment status.Amends the Fair Credit Reporting Act to redefine "firm offer of credit or insurance" to require the offer to specify all material terms, including APR, fees, and the applicable amount of credit or credit limit.

amends fair credit reporting act permit consumer reporting agency furnish consumer report connection credit insurance transaction initiated consumer report indicates consumer age older allows year olds elect address included agency list amends truth lending act prohibit credit card issuer changing terms credit card open end consumer credit plan scheduled contract expiration renewal date issuer published contract changes mandatory disclosures establishes cardholder right repay existing balances terminated expired credit card account terms account effect termination expiration imposes limits increases interest rates finance charges credit card account scheduled renewal date permits increase annual percentage rate apr penalty specific material contract violations consumer directly related account specified contract grounds increase bans retroactive rate increases prohibits credit card issuer imposing adverse consequences late payment cardholder payment initiated electronic funds transfer required postmark date requires credit card issuer verify account opened credit limit increased consumer able scheduled payments based consideration current expected income current obligations employment status amends fair_credit_reporting_act redefine firm offer credit insurance require offer specify material terms including apr fees applicable credit credit limit


Summary: Universal Default Prohibition Act of 2009 - Amends the Truth in Lending Act to prohibit a creditor from: (1) using any adverse information concerning any consumer, including any in a consumer report or any change in the consumer's credit score, as the basis for increasing any annual percentage rate of interest (APR) for a credit card account of the consumer's under an open end consumer credit plan; or (2) removing or increasing any introductory APR for that account, for reasons other than actions or omissions of the consumer directly related to the account. Requires such limitation on the use of adverse information to be clearly and conspicuously described to the consumer by the credit card issuer.

universal default prohibition act amends truth lending act prohibit creditor adverse information concerning consumer including consumer report change consumer credit score basis increasing annual percentage rate interest apr credit card account consumer open end consumer credit plan removing increasing introductory apr account reasons actions omissions consumer directly related account requires limitation use adverse information clearly conspicuously described consumer credit card issuer


Summary: Consumer Rental-Purchase Agreement Act of 2009 - Amends the Consumer Credit Protection Act to prescribe consumer protection guidelines for rental-purchase transactions, including: (1) the determination of rental-purchase cost; (2) disclosure requirements; (3) prohibitions against confessions of judgment, wage assignments, and waiver of consumer claims or defenses; (4) furnishing of statements of account; (5) point-of-rental disclosures; and (6) rental-purchase advertising disclosures.Declares that an action for civil liability may be brought against a merchant's assignee only if the violation is apparent on the face of a rental-purchase agreement to which it relates, including, but not limited to, a disclosure that can be determined to be incomplete or inaccurate from the face of the agreement. Authorizes the Board of Governors of the Federal Reserve System to promulgate implementing regulations. Grants enforcement powers to the Federal Trade Commission and to state attorneys general. Subjects to criminal penalties any willful and knowing violation of the information disclosure requirements of this Act.

amends consumer_credit_protection_act prescribe consumer protection guidelines rental purchase transactions including determination rental purchase cost disclosure requirements prohibitions confessions judgment wage assignments waiver consumer claims defenses furnishing statements account point rental disclosures rental purchase advertising disclosures declares action civil liability brought merchant assignee violation apparent face rental purchase agreement relates including limited disclosure determined incomplete inaccurate face agreement authorizes board_of_governors federal_reserve_system promulgate implementing regulations grants enforcement powers federal_trade_commission state attorneys general subjects criminal penalties willful knowing violation information disclosure requirements act


Summary: Debt Reduction Priority Act - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to require the Secretary of the Treasury to establish a procedure for: (1) depositing in the General Fund of the Treasury amounts received for repayment of financial assistance or payment of interest on the receipt of such assistance by an entity under the Troubled Asset Relief Program (TARP) or any program enacted by the Secretary under the authorities granted under such Act, including the Capital Purchase Program; and (2) dedication of any such amounts so received for the sole purpose of debt reduction.

debt reduction priority act amends emergency economic stabilization act eesa require secretary treasury establish procedure depositing general_fund treasury amounts received repayment financial assistance payment interest receipt assistance entity troubled_asset_relief_program tarp program enacted secretary authorities granted act including dedication amounts received sole purpose debt reduction


Summary: Debt Reduction Priority Act - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to require the Secretary of the Treasury to deposit in the Public Debt Reduction Payment Account (established by this Act) amounts received for repayment of financial assistance or payment of interest on the receipt of such assistance by an entity under the Troubled Asset Relief Program (TARP) or any program enacted by the Secretary under the authorities granted under such Act, including the Capital Purchase Program. Requires the Secretary to use amounts in the Account to pay at maturity, or to redeem or buy before maturity, any obligation of the government held by the public and included in the public debt. Reduces the public debt limit by the aggregate of amounts deposited into the Account. Excludes receipts and disbursements of the Account from consideration as new budget authority, outlays, receipts, or deficit or surplus for purposes of the President's budget, the congressional budget, or the Balanced Budget and Emergency Deficit Control Act of 1985. Requires outlays and receipts of the Account to be excluded from any official statement of budget surplus or deficit totals issued by the Office of Management and Budget (OMB), the Congressional Budget Office (CBO), or any other federal agency or instrumentality.

debt reduction priority act amends emergency economic stabilization act eesa require secretary treasury deposit public debt reduction payment account established act amounts received repayment financial assistance payment interest receipt assistance entity troubled_asset_relief_program tarp program enacted secretary authorities granted act including requires secretary use amounts account pay maturity redeem buy maturity obligation government held public included public debt reduces public debt limit aggregate amounts deposited account excludes receipts disbursements account consideration new budget authority outlays receipts deficit surplus purposes president budget congressional budget balanced_budget emergency deficit control act requires outlays receipts account excluded official statement budget surplus deficit totals issued office_of_management_and_budget omb congressional_budget_office cbo federal agency instrumentality


Summary: Helping Families Save Their Homes Act of 2009 - Amends federal bankruptcy law governing a Chapter 13 debtor (adjustment of debts of an individual with regular income). Excludes from computation of debts specified debts secured by the debtor's principal residence. Applies the credit counseling requirement to a Chapter 13 debtor who certifies receipt of notice that the holder of a claim secured by the debtor's principal residence may commence a foreclosure on it. Allows such a debtor to satisfy the requirement within 30 days after filing a petition for relief from debt. (Currently the requirement must be satisfied within 180 days before the filing of a petition.) Requires the court to disallow a claim that is subject to any remedy for statutory rescission, notwithstanding a prior foreclosure judgment. Authorizes, in specified circumstances, reduction of a claim secured by the debtor's principal residence. Permits a Chapter 13 bankruptcy plan to: (1) modify the rights of claim holders with respect to certain loans secured by a security interest in a principal residence that is the subject of a foreclosure notice; and (2) deny debtor liability for certain fees and charges incurred while the bankruptcy case is pending and arising from a debt secured by the debtor's principal residence. Adds to conditions for court confirmation of a plan in bankruptcy. Excludes from the final discharge of debts any unpaid portion of a reduced claim. Amends the federal judicial code to prescribe standing trustee fees regarding certain payments received under a Chapter 13 bankruptcy plan. Expands federal procedures governing default on veterans' housing loans. Authorizes the Secretary of Veterans Affairs, in the event of a modification in bankruptcy, but only in specified circumstances, to pay the holder of the obligation the unpaid balance that is due as of the filing date of the bankruptcy petition. Amends the National Housing Act to authorize the Secretary of Housing and Urban Development (HUD) to: (1) pay Federal Housing Administration (FHA) mortgage insurance benefits for a mortgage modified under federal bankruptcy law; and (2) implement a program to encourage loan modifications for eligible delinquent mortgages through the payment of insurance benefits, assignment of the mortgage to the Secretary, and mortgagee-approved loan modification. Amends the Housing Act of 1949 to authorize the Secretary of Agriculture to pay: (1) the guaranteed portion of losses incurred by mortgage holders or servicers that result from a modification in a bankruptcy proceeding; and (2) for losses incurred in the event of a modification pursuant to a bankruptcy proceeding. Declares certain investment contracts contrary to public policy and therefore unenforceable. Shields loan servicers from liability for implementing mortgage loan modifications or loss mitigation plans as long as they are in compliance with certain fiduciary duties. Amends the National Housing Act to modify the HOPE for Homeowners Program (HOPE). Reduces the limit on the Secretary of the Treasury's authority to purchase troubled assets under the Troubled Asset Relief Program (TARP). Amends the Federal Deposit Insurance Act (FDIA) and the Federal Credit Union Act (FCUA) to increase: (1) deposit insurance coverage permanently to $250,000; and (2) the borrowing authority of the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA). Amends the FDIA to: (1) extend the time period applicable to a Deposit Insurance Fund (DIF) restoration plan; and (2) revise requirements for special assessments to recover DIF losses arising from actions taken to contain systemic risk in connection with certain insured depository institutions. Amends the FCUA to direct the NCUA Board to establish a National Credit Union Share Insurance Fund Restoration Plan whenever the Board projects that the equity ratio of the National Credit Union Share Insurance Fund will fall below a minimum designated equity ratio. Expresses the sense of Congress that: (1) the Secretary of the Treasury should use specified funds to purchase mortgage revenue bonds for single-family housing issued through state housing finance agencies and local governmental entities; and (2) certain foreclosures on a principal dwelling should not be initiated until the foreclosure mitigation provisions of this Act and the President's "Homeowner Affordability and Stability Plan" have been implemented and determined to be operational. Nationwide Mortgage Fraud Task Force Act of 2009 - Establishes in the Department of Justice the Nationwide Mortgage Fraud Task Force.

helping families save homes act amends federal bankruptcy law governing chapter debtor adjustment debts individual regular income excludes computation debts specified debts secured debtor principal residence applies credit counseling requirement chapter debtor certifies receipt notice holder claim secured debtor principal residence commence foreclosure allows debtor satisfy requirement days filing petition relief debt currently requirement satisfied days filing petition requires court disallow claim subject remedy statutory rescission notwithstanding prior foreclosure judgment authorizes specified circumstances reduction claim secured debtor principal residence permits chapter bankruptcy plan modify rights claim holders respect certain loans secured security interest principal residence subject foreclosure notice deny debtor liability certain fees charges incurred bankruptcy case pending arising debt secured debtor principal residence adds conditions court confirmation plan bankruptcy excludes final discharge debts unpaid portion reduced claim amends federal judicial code prescribe standing trustee fees certain payments received chapter bankruptcy plan expands federal procedures governing default veterans housing loans authorizes secretary veterans_affairs event modification bankruptcy specified circumstances pay holder obligation unpaid balance filing date bankruptcy petition amends national housing act authorize secretary housing_and_urban_development hud pay federal_housing_administration fha mortgage insurance benefits mortgage modified federal bankruptcy law implement program encourage loan modifications eligible delinquent mortgages payment insurance benefits assignment mortgage secretary mortgagee approved loan modification amends housing act authorize secretary agriculture pay guaranteed portion losses incurred mortgage holders servicers result modification bankruptcy proceeding losses incurred event modification pursuant bankruptcy proceeding declares certain investment contracts contrary public policy unenforceable shields loan servicers liability implementing mortgage loan modifications loss mitigation plans long compliance certain fiduciary duties amends national housing act modify hope homeowners program hope reduces limit secretary treasury authority purchase troubled assets troubled_asset_relief_program tarp amends federal_deposit_insurance_act fdia federal_credit_union_act fcua increase deposit insurance coverage permanently borrowing authority federal_deposit_insurance_corporation fdic national_credit_union_administration ncua amends fdia extend time period applicable restoration plan revise requirements special assessments recover dif losses arising actions taken contain systemic risk connection certain insured depository institutions amends fcua direct ncua_board establish national_credit_union_share_insurance_fund restoration plan board projects equity ratio national_credit_union_share_insurance_fund fall minimum designated equity ratio expresses sense congress secretary treasury use specified funds purchase mortgage revenue bonds single family housing issued state housing finance agencies local governmental entities certain foreclosures principal dwelling initiated foreclosure mitigation provisions act president homeowner affordability stability plan implemented determined operational establishes


Summary: Division A: Preventing Mortgage Foreclosures - Helping Families Save Their Homes Act of 2009 - Title I: Prevention of Mortgage Foreclosures - (Sec. 101) Amends the Housing Act of 1949 with respect to guaranteed rural housing loans to require mortgagees, upon either actual or imminent default of a guaranteed mortgage, to engage in loss mitigation actions as an alternative to foreclosure (including special forbearance, loan modification, pre-foreclosure sale, deed in lieu of foreclosure, support for borrower housing counseling, subordinate lien resolution, and borrower relocation). Permits the Secretary of Agriculture (USDA) (Secretary for purposes of this section), for mortgages either in default or facing imminent default, to: (1) authorize the modification of such mortgages; and (2) establish a program for payment of a partial claim to a mortgagee who agrees to apply the claim amount to payment of a mortgage on a 1- to 4-family residence. Permits the Secretary to: (1) authorize compensation to the mortgagee for lost income on monthly mortgage payments due to interest rate reduction; (2) reimburse the mortgagee from a guaranty fund in connection with activities that the mortgagee is required to undertake concerning repayment by the mortgagor of the amount owed to HUD; (3) authorize payments to the mortgagee on behalf of the borrower, under terms defined by HUD; and (4) authorize mortgage modification with terms extended up to 40 years from the modification date. Grants the Secretary authority, upon mortgagee request, to establish a program for assignment to HUD of a guaranteed mortgage on a 1- to 4-family residence in or facing imminent default. Prescribes procedures for HUD payment of guarantee, disposition, and loan servicing. Requires the mortgagee already to have modified the mortgage, or to have qualified it for modification sufficient to cure the default and provide for mortgage payments the mortgagor is reasonably able to pay, at interest rates not exceeding current market rates. Authorizes the Secretary to pay the mortgage guaranty, without reduction for any amounts modified, but only upon the assignment, transfer, and delivery to the Secretary of all rights, interest, claims, evidence, and records with respect to the mortgage. Authorizes the Secretary to: (1) reassign the mortgage to the mortgagee; (2) act as a Government National Mortgage Association (GNMA, or Ginnie Mae) issuer, or contract with an entity for such purpose, in order to pool the mortgage into a Ginnie Mae security; or (3) resell the mortgage in accordance with any program established for purchase by the federal government of insured mortgages. (Sec. 102) Revises the requirement that the maturity of any housing loan guaranteed by the Department of Veterans Affairs (VA) not be more than 30 years and 32 days. Specifies the maturity of a housing loan at the time of origination. (Sec. 103) Authorizes additional appropriations for FY2010-FY2011 to the Department of Housing and Urban Development (HUD) for: (1) advertising to increase public awareness of mortgage scams and counseling assistance; (2) the Housing Counseling Assistance Program; and (3) personnel at the Office of Fair Housing and Equal Opportunity. (Sec. 104) Requires the Comptroller of the Currency and the Director of the Office of Thrift Supervision (OTS) to report jointly to certain congressional committees on the volume of mortgage modifications reported to their agencies. (Sec. 105) Amends the Foreclosure Prevention Act of 2008, with respect to emergency assistance for the redevelopment of abandoned and foreclosed homes (neighborhood stabilization), to authorize each state that has received certain minimum allocations and has fulfilled certain requirements, to distribute any remaining amounts to areas with homeowners at risk of foreclosure or in foreclosure without regard to the percentage of home foreclosures in such areas. Title II: Foreclosure Mitigation and Credit Availability - (Sec. 201) Amends the the Truth in Lending Act (TILA) to modify the fiduciary duty requirements of servicers of pooled residential mortgages as duty requirements for any servicer of residential mortgages that agrees to enter into a qualified loss mitigation plan for residential mortgages originated before the date of enactment of this Act (including mortgages held in a securitization or other investment vehicle). Shields from liability to any party owed a specified duty (as under existing law) a servicer who is deemed to be acting in the best interests of all investors and other parties. States that such a servicer shall not be subject to any equitable relief to such a party that is based solely upon implementation by the servicer of a qualified loss mitigation plan. States that any person, including a trustee, issuer, and loan originator, shall not be liable for monetary damages or be subject to any equitable relief, based solely upon cooperation necessary for the servicer to implement a qualified loss mitigation plan in compliance with this Act. Declares that nothing in this section shall be contrued as affecting the liability of any servicer or person (including a trustee, issuer, and loan originator) for actual fraud in the origination or servicing of a loan or in the implementation of a qualified loss mitigation plan, or for the violation of a state or federal law, including laws regulating the origination of mortgage loans, commonly referred to as predatory lending laws. (Sec. 202) Amends the National Housing Act (NHA) to transfer to the Secretary of HUD (Secretary for the rest of this Act, unless otherwise noted) from the current Board of Directors of the HOPE for Homeowners Program all responsibility to establish HOPE requirements and standards and prescribe related regulations. Replaces the Board of Directors with an Advisory Board for the HOPE for Homeowners Program. Revises requirements for borrower certifications in applying for insurance of a refinanced eligible mortgage. Requires a mortgagor to certify to HUD that the mortgagor has neither intentionally defaulted on an existing mortgage or other substantial debt within the last five years (currently no period is mentioned). Requires that the mortgagor has not provided false information (as under current law), but also has not been convicted of fraud under federal or state law during the 10-year period ending upon the insurance of the mortgage. Requires the mortgagor to agree in writing to be liable to repay to the Secretary any direct financial benefit achieved from the reduction of indebtedness on the existing mortgage or mortgages on the refinanced residence which is derived from misrepresentations in required mortgagor certifications and documentation. States that the duty of the mortgagee to ensure that mortgagor is in compliance with the NHA shall be satisfied if the mortgagee makes a good faith effort to determine that the mortgagor has not been convicted of fraud during the specified 10-year period. Prohibits a mortgagor from having a net worth exceeding $1 million as of the date of applying for mortgage insurance. Authorizes the Secretary to: (1) establish a payment to the servicer of the existing senior mortgage for every loan insured under the HOPE for Homeowners Program, as well as to the originator of each new loan insured under such Program; and (2) establish and organize procedures, if feasible, for an auction to refinance eligible mortgages on a wholesale or bulk basis. Reduces by $1.244 billion the $700 billion limit on the authority of the Secretary of the Treasury (Secretary) to purchase troubled assets under the Troubled Asset Relief Program (TARP). (Sec. 203) Prohibits any state or federal law (except a federal law expressly limiting this prohibition) from precluding or limiting the power of the Mortgagee Review Board to take action against mortgagees. Restricts participation in the origination of an FHA-insured loan to a Secretary-approved person or entity, except as authorized by the Secretary. Prohibits approval of an applicant as a mortgagee if any of its officers, partners, directors, principals, managers, supervisors, loan processors, loan underwriters, or loan originators are: (1) currently suspended, debarred, otherwise restricted, indicted or convicted of certain offenses; (2) engaged in nonconforming business practices; (3) subject to unresolved findings of a HUD audit, investigation, or review; (4) convicted of real estate- or mortgage loan-related felonies during the preceding seven years, or at any preceding time of certain other felonies; or (5) in violation of specified laws or requirements. Authorizes the Secretary to: (1) pay insurance benefits to the mortgagee for loss mitigation actions that provide an alternative to foreclosure of a mortgage that faces imminent default, including support for borrower housing counseling, partial claims, borrower incentives, and preforeclosure sale; and (2) establish a program for payment of a partial claim to a mortgagee that agrees to apply the claim amount to payment of a mortgage on a one- to four-family residence that is in default or faces imminent default. Authorizes the Secretary to encourage loan modifications for either delinquent mortgages or those facing imminent default through the payment of insurance benefits and assignment of the mortgage to HUD and subsequent mortgage modification approved by the mortgagee. Authorizes the Secretary to provide mortgage insurance following mortgage modification, and subsequently: (1) reassign the mortgage to the mortgagee; (2) act as a Government National Mortgage Association (GNMA, or Ginnie Mae) issuer in order to pool the mortgage into a GNMA security; or (3) resell the mortgage in accordance with certain federal programs established to purchase insured mortgages; and (4) coordinate standards for interest rate reductions available for loan modification. Authorizes the Secretary to require the existing servicer of a mortgage assigned to HUD to continue servicing it as a HUD agent during the period that HUD acquires it to modify its terms if HUD compensates the existing servicer appropriately. Repeals requirements relating to purchaser-broker arrangement payments for insurance purposes. Requires an approved mortgagee to notify HUD immediately if sanctions are applied to it or any of its personnel (including revocation of a state-issued mortgage loan originator license or similar declaration of ineligibility under state law). Directs the Secretary, in order to identify applicants who represent a high risk to the Mutual Mortgage Insurance Fund, to: (1) expand the existing process for reviewing new applicants for participation in FHA-insured mortgages on one- to four-family residences; and (2) implement procedures that expand the number of mortgages originated for mortgagees that were approved during the 12 months before enactment of this Act. (Sec. 204) Amends the Emergency Economic Stabilization Act of 2008 (EESA) to extend to December 31, 2013, the temporary increase in federal (bank) deposit insurance and in federal (credit union) share deposit insurance. Amends the Federal Deposit Insurance Act (FDIA) to: (1) extend from five years to eight years the time period applicable to a Deposit Insurance Fund (DIF) restoration plan; and (2) increase the borrowing authority of the Federal Deposit Insurance Corporation (FDIC) from $30 billion to $100 billion. Permits a temporary increase up to $500 billion, ending on December 31, 2010, in order to fund losses under TARP. Prohibits the FDIC from using its borrowing authority to fund obligations incurred as part of a program established by the Secretary to purchase or guarantee assets pursuant to EESA. Amends the Federal Credit Union Act (FCUA) to grant the National Credit Union Administration (NCUA) increased borrowing authority until December 31, 2010. Amends the FDIA to revise requirements governing special assessments to recover losses to the DIF triggered by actions taken to contain systemic risk in connection with certain insured depository institutions. Applies assessment payment requirements to depository institution holding companies, as well as penalties for failure to make such payments. Amends the FCUA to require the NCUA Board to: (1) establish a National Credit Union Share Insurance Fund Restoration Plan whenever it projects that the equity ratio of the National Credit Union Share Insurance Fund will fall below a designated minimum equity ratio; and (2) establish the Temporary Corporate Credit Union Stabilization Fund to make payments for the insurance and liquidation of insured credit unions. Authorizes such Fund to borrow from the Secretary of the Treasury under specified conditions. (Sec. 205) Instructs the Secretary, when using certain EESA funds, to: (1) prevent and mitigate foreclosures on residential properties (including mortgage modifications); and (2) require that the limitation on the maximum original principal obligation of a mortgage eligible for assistance not be less than the dollar amount limitation on the maximum original principal obligation of a mortgage that may be purchased by the Federal Home Loan Mortgage Corporation (Freddie Mac) for the area in which the relevant property is located. (Sec. 206) Amends the NHA regarding insurance of home equity conversion mortgages for elderly homeowners to redefine a mortgage on a leasehold to be one under a lease with a term that ends no earlier than the minimum number of years (as specified by the Secretary) beyond the actuarial life expectancy of the mortgagor or co-mortgagor. (Currently, it is a lease having a period of not less than 10 years to run beyond the maturity date of the mortgage.) (Sec. 207) Expresses the sense of Congress that the Secretary of the Treasury should use amounts made available in this Act to purchase mortgage revenue bonds for single-family housing issued through state housing finance agencies and through local governments and their agencies. Title III: Mortgage Fraud Task Force - (Sec. 301) Expresses the sense of Congress that the Department of Justice should establish a Nationwide Mortgage Fraud Task Force to address mortgage fraud in the United States. Title IV: Foreclosure Moratorium Provisions - (Sec. 401) Expresses the sense of Congress that mortgage holders, institutions, and mortgage servicers should not initiate a foreclosure proceeding or a foreclosure sale on any homeowner until specified foreclosure mitigation provisions, like the Hope for Homeowners program and the President's Homeowner Affordability and Stability Plan, have been implemented and determined to be operational by the Secretary and the Secretary of the Treasury. (Sec. 402) Public-Private Investment Program Improvement and Oversight Act of 2009 - Sets forth requirements for a federal program to create a public-private investment fund, including a requirement to impose strict conflict of interest rules on managers of such funds in order to ensure: (1) securities purchases are in arms-length transactions; (2) fiduciary duties to public and private investors are not violated; and (3) full disclosure of relevant facts and financial interests. Requires each manager of a public-private fund to identify periodically for the Secretary each investor holding equity interests equal to at least 10% of the equity interest of the fund, including if such interests are held in a vehicle formed for the purpose of directly or indirectly investing in the fund. Authorizes additional appropriations for the Special Inspector General of the Troubled Asset Relief Program. Reduces by $1.259 billion (in addition to the $1.244 reduction in Section 202) the $700 billion limit on the authority of the Secretary of the Treasury to purchase troubled assets under the Troubled Asset Relief Program (TARP). (Sec. 403) Amends EESA to change from mandatory to discretionary the authority to liquidate warrants under TARP. (Sec. 404) Amends TILA to require additional disclosures which the new owner or assignee of a debt must furnish to the borrower within 30 days after the date on which a mortgage loan is transferred or assigned to a third party. Title V: Farm Loan Restructuring - (Sec. 501) Amends EESA to instruct the Congressional Oversight Panel to submit a special report on farm loan restructuring that: (1) analyzes the state of the commercial farm credit markets and the use of loan restructuring as an alternative to foreclosure by recipients of TARP financial assistance; and (2) includes an examination and recommendation on different farm loan restructuring methods that could be used as part of a foreclosure mitigation program for farm loans made by TARP recipients. Title VI: Enhanced Oversight of the Troubled Asset Relief Program - (Sec. 601) Amends EESA to direct the Comptroller General to oversee the performance of the TARP in meeting EESA purposes of public accountability for the exercise of TARP authority, including with respect to actions taken by EESA program participants. Requires every contract, term sheet, or other agreement between the Secretary of the Treasury or the TARP (or any TARP vehicle, officer, director, employee, independent public accountant, financial advisor, or other TARP agent or representative) and a non-governmental entity participating in an EESA program to provide for access by the Comptroller General. Title VII: Protecting Tenants at Foreclosure Act - Protecting Tenants at Foreclosure Act of 2009 - (Sec. 702) Declares that, in the case of any foreclosure on a federally-related mortgage loan or on any dwelling or residential real property after the date of enactment of this Act, the immediate successor in interest in the property pursuant to the foreclosure shall assume such interest subject to: (1) provision by such successor of a notice to vacate to a bona fide (non-mortgagor) tenant at least 90 days before the effective date of such notice; and (2) specified rights of such tenant to occupy the property until the end of the remaining lease term. (Sec. 703) Amends the United States Housing Act of 1937 to declare that, in the case of an owner who is an immediate successor in interest pursuant to foreclosure during the initial term of a lease, the tenant's vacating of the property prior to sale shall not constitute other good cause for terminating the tenancy or occupancy rights of the victim of domestic or similar violence or stalking. Allows the owner to terminate such a tenancy, however, effective on the date of the unit's transfer to the owner if the owner: (1) will occupy the unit as a primary residence; and (2) has given the tenant a notice to vacate at least 90 days before the effective date of such notice. Declares also that, in the case of foreclosure on any federally-related mortgage loan or on any residential real property in which a recipient of public housing assistance resides, the immediate successor in interest assumes such interest subject to: (1) the lease between the prior owner and the tenant, and (2) the housing assistance payments contract between the prior owner and the public housing agency for the occupied unit. (Sec. 704) Terminates this title on December 31, 2012. Title VIII: Comptroller General Additional Audit Authorities - (Sec. 801) Prohibits personnel from the Government Accountability Office (GAO) from disclosing to any person outside GAO any information obtained in audits or examinations and maintained as confidential by the Board of Governors of the Federal Reserve System (Board) or the Federal reserve banks. Grants the Comptroller General access to officers, employees, contractors, agents, and representatives of an agency (including any entity established by the agency). Authorizes the Comptroller General to make and retain copies of agency records. Authorizes the Comptroller General to conduct audits, including onsite examinations of specified actions taken by the Board with respect to a single and specific partnership or corporation. Division B: Homelessness Reform - Homeless Emergency Assistance and Rapid Transition to Housing Act of 2009 - (Sec. 1002) Amends the McKinney-Vento Homeless Assistance Act (Act) to consolidate housing assistance programs for homeless persons. (Sec. 1003) Redefines homelessness to include victims of domestic violence and other dangerous or life-threatening conditions, among other persons. (Sec. 1004) Declares that the mission of the U.S. Interagency Council on Homelessness is to coordinate the federal response to homelessness and to create a national partnership at every level of government and with the private sector to reduce and end homelessness in the nation while maximizing the effectiveness of federal contributions to end homelessness. Requires the Executive Director of the Council to submit to the President and and to Congress a National Strategic Plan to End Homelessness, and to update it annually. Authorizes appropriations for FY2010-FY2011. Title I: Housing Assistance General Provisions - (Sec. 1102) Prescribes requirements for the selection of community homeless assistance planning boards, particularly for collaborative applicants. Requires a collaborative applicant to: (1) design a collaborative process to develop homeless assistance grant applications and evaluate project outcomes; (2) establish priorities for funding projects; (3) participate in the Consolidated Plan for the geographic area served by the applicant; (4) ensure operation of, and consistent participation by, project sponsors in a community-wide homeless management information system (HMIS); and (5) act as a unified funding agency to distribute HUD funds to other project sponsors in the applicable geographic area funds for their projects. (Sec. 1103) Prohibits any project sponsor receiving funds to provide emergency shelter, transitional housing, or permanent housing to families with children under age 18 from denying admission to a family based on the age of any such child. (Sec. 1104) Requires the Secretary to instruct any victim service provider that is either a recipient or subgrantee not to disclose for purposes of the Homeless Management Information System (HMIS) any personally identifying information about any client. (Sec. 1105) Authorizes appropriations for FY2010-FY2011. Title II: Emergency Solutions Grants Program - (Sec. 1201) Prescribes requirements for a program of emergency solutions grants to states, local governments, and private nonprofit organizations providing assistance to persons experiencing homelessness or at risk of homelessness. (Sec. 1202) Specifies activities eligible for assistance under such grants, including: (1) renovation, major rehabilitation, or conversion of buildings to be used as emergency shelters; (2) essential services related to emergency shelter or street outreach; (3) provision of related utilities and furnishings; (4) rental assistance to provide short-term or medium-term housing to homeless individuals or families or those at risk of homelessness; and (5) housing relocation or stabilization services. (Sec. 1203) Requires the Secretary to ensure that recipients of housing assistance funds ensure the consistent participation by emergency shelters and homelessness prevention and rehousing programs in any applicable communitywide homeless management information system. (Sec. 1204) Increases from 5% to 7.5% the amount of any emergency solutions grant a recipient may use for administrative purposes. (Sec. 1205) Directs the Comptroller General to study and report to Congress on the costs of administering the emergency shelter grants program. Title III: Continuum of Care Program - (Sec. 1301) Prescribes requirements for a continuum of care grants program to support efforts to rehouse homeless individuals and families quickly while minimizing the trauma and dislocation caused. (Sec. 1302) Specifies activities eligible for project assistance under such grants, including: (1) construction of new housing units to provide transitional or permanent housing; (2) acquisition or rehabilitation of a structure to provide non-emergency transitional or permanent housing or supportive services; (3) property leasing; (4) rental assistance to provide transitional or permanent housing; (5) payment of operating costs for assisted or preserved housing units; (6) supportive services for currently homeless individuals and families; (7) rehousing services; (8) a communitywide homeless management information system; and (9) payment of various specified administrative costs. (Sec. 1303) Directs the Secretary to designate annually which collaborative applicants represent high-performing communities meeting certain criteria for short terms of homelessness, low recurring rates of homelessness, and specified community action. (Sec. 1304) Revises supportive housing program requirements. (Sec. 1305) Requires the Secretary to award funds to recipients through a national competition between geographic areas based on criteria meeting specified requirements. Prescribes a minimum allocation for permanent housing for homeless individuals and families with disabilities. (Sec. 1306) Authorizes appropriations for FY2010-FY2011 for research into the efficacy of interventions for homeless families, to be expended over the two years at three different sites to provide services for homeless families and evaluate the effectiveness of such services. Title IV: Rural Housing Stability Assistance Program - (Sec. 1401) Renames the rural homelessness grant program the rural housing stability assistance program. Revises program requirements. Adds to eligible activities: (1) construction of new housing units to provide transitional or permanent housing; (2) acquisition or rehabilitation of a structure to provide non-emergency transitional or permanent housing or supportive services; (3) property leasing; (4) rental assistance to provide transitional or permanent housing; and (5) payment of operating costs for assisted housing units. (Sec. 1402) Requires the Comptroller General to study and report to Congress on homelessness and homeless assistance in rural areas. Title V: Repeals and Conforming Amendments - (Sec. 1501) Amends the Act to repeal the mandates for: (1) the Safe Havens for Homeless Individuals demonstration program about the feasibility of providing very low-cost housing to homeless persons that do not participate in mental health treatment programs; (2) financial assistance for single room occupancy dwellings; and (3) the Shelter Plus Care program of rental housing assistance to homeless persons with certain disabilities and their families.

division preventing mortgage foreclosures helping families save homes act title prevention mortgage foreclosures sec amends housing act respect guaranteed rural housing loans require mortgagees actual imminent default guaranteed mortgage engage loss mitigation actions alternative foreclosure including special forbearance loan modification pre foreclosure sale deed lieu foreclosure support borrower housing counseling subordinate lien resolution borrower relocation permits secretary agriculture usda secretary purposes section mortgages default facing imminent default authorize modification mortgages establish program payment partial claim mortgagee agrees apply claim payment mortgage family residence permits secretary authorize compensation mortgagee lost income monthly mortgage payments interest rate reduction reimburse mortgagee guaranty fund connection activities mortgagee required undertake concerning repayment mortgagor owed hud authorize payments mortgagee behalf borrower terms defined hud authorize mortgage modification terms extended years modification date grants secretary authority mortgagee request establish program assignment hud guaranteed mortgage family residence facing imminent default prescribes procedures hud payment guarantee disposition loan servicing requires mortgagee modified mortgage qualified modification sufficient cure default provide mortgage payments mortgagor reasonably able pay interest rates exceeding current market rates authorizes secretary pay mortgage guaranty reduction amounts modified assignment transfer delivery secretary rights interest claims evidence records respect mortgage authorizes secretary reassign mortgage mortgagee act government_national_mortgage_association ginnie_mae issuer contract entity purpose order pool mortgage ginnie_mae security resell mortgage accordance program established purchase federal government insured mortgages sec revises requirement maturity housing loan guaranteed department_of_veterans_affairs years days specifies maturity housing loan time origination sec authorizes additional appropriations fy2010 fy2011 department_of_housing_and_urban_development hud advertising increase public awareness mortgage scams counseling assistance personnel sec requires comptroller currency director office_of_thrift_supervision ots report jointly certain congressional committees volume mortgage modifications reported agencies sec amends foreclosure prevention act respect emergency assistance redevelopment abandoned foreclosed homes neighborhood stabilization authorize state received certain minimum allocations fulfilled certain requirements distribute remaining amounts areas homeowners risk foreclosure foreclosure regard percentage home foreclosures areas title foreclosure mitigation credit availability sec amends truth lending act tila modify fiduciary duty requirements servicers pooled residential mortgages duty requirements servicer residential mortgages agrees enter qualified loss mitigation plan residential mortgages originated date enactment act including mortgages held securitization investment vehicle shields liability party owed specified duty existing law servicer deemed acting best interests investors parties states servicer shall subject equitable relief party based solely implementation servicer qualified loss mitigation plan states person including trustee issuer loan originator shall liable monetary damages subject equitable relief based solely cooperation necessary servicer implement qualified loss mitigation plan compliance act declares section shall affecting liability servicer person including trustee issuer loan originator actual fraud origination servicing loan implementation qualified loss mitigation plan violation state federal law including laws regulating origination mortgage loans commonly referred predatory lending laws sec amends national housing act nha transfer secretary hud secretary rest act current board_of_directors hope homeowners_program responsibility establish hope requirements standards prescribe related regulations replaces board directors advisory_board hope homeowners_program revises requirements borrower certifications applying insurance refinanced eligible mortgage requires mortgagor certify hud mortgagor intentionally defaulted existing mortgage substantial debt years currently period requires mortgagor provided false information current law convicted fraud federal state law year period ending insurance mortgage requires mortgagor agree writing liable repay secretary direct financial benefit achieved reduction indebtedness existing mortgage mortgages refinanced residence derived misrepresentations required mortgagor certifications documentation states duty mortgagee ensure mortgagor compliance nha shall satisfied mortgagee makes good faith effort determine mortgagor convicted fraud specified year period prohibits mortgagor having net worth exceeding million date applying mortgage insurance authorizes secretary establish payment servicer existing senior mortgage loan insured hope homeowners_program originator new loan insured program establish organize procedures feasible auction refinance eligible mortgages wholesale bulk basis reduces billion billion limit authority secretary treasury secretary purchase troubled assets troubled_asset_relief_program tarp sec prohibits state federal law federal law expressly limiting prohibition precluding limiting power action mortgagees restricts participation origination fha insured loan secretary approved person entity authorized secretary prohibits approval applicant mortgagee officers partners directors principals managers supervisors loan processors loan underwriters loan originators currently suspended debarred restricted indicted convicted certain offenses engaged nonconforming business practices subject unresolved findings hud audit investigation review convicted real mortgage loan related felonies preceding seven years preceding time certain felonies violation specified laws requirements authorizes secretary pay insurance benefits mortgagee loss mitigation actions provide alternative foreclosure mortgage faces imminent default including support borrower housing counseling partial claims borrower incentives sale establish program payment partial claim mortgagee agrees apply claim payment mortgage one- family residence default faces imminent default authorizes secretary encourage loan modifications delinquent mortgages facing imminent default payment insurance benefits assignment mortgage hud subsequent mortgage modification approved mortgagee authorizes secretary provide mortgage insurance following mortgage modification subsequently reassign mortgage mortgagee act government_national_mortgage_association ginnie_mae issuer order pool mortgage security resell mortgage accordance certain federal programs established purchase insured mortgages coordinate standards interest rate reductions available loan modification authorizes secretary require existing servicer mortgage assigned hud continue servicing hud agent period hud acquires modify terms hud compensates existing servicer appropriately repeals requirements relating purchaser broker arrangement payments insurance purposes requires approved mortgagee notify hud immediately sanctions applied personnel including revocation state issued mortgage loan originator license similar declaration ineligibility state law directs secretary order identify applicants represent high risk mutual_mortgage_insurance_fund expand existing process reviewing new applicants participation fha insured mortgages one- family residences implement procedures expand number mortgages originated mortgagees approved months enactment act sec amends emergency economic stabilization act eesa extend december temporary increase federal bank deposit insurance federal credit union share deposit insurance amends federal_deposit_insurance_act fdia extend years years time period applicable restoration plan increase borrowing authority federal_deposit_insurance_corporation fdic billion billion permits temporary increase billion ending december order fund losses tarp prohibits fdic borrowing authority fund obligations incurred program established secretary purchase guarantee assets pursuant eesa amends federal_credit_union_act fcua grant national_credit_union_administration ncua increased borrowing authority december amends fdia revise requirements governing special assessments recover losses dif triggered actions taken contain systemic risk connection certain insured depository institutions applies assessment payment requirements depository institution holding companies penalties failure payments amends fcua require ncua_board establish projects equity ratio national_credit_union_share_insurance_fund fall designated minimum equity ratio establish payments insurance liquidation insured credit unions authorizes fund borrow secretary treasury specified conditions sec instructs secretary certain eesa funds prevent mitigate foreclosures residential properties including mortgage modifications require limitation maximum original principal obligation mortgage eligible assistance dollar limitation maximum original principal obligation mortgage purchased federal_home_loan_mortgage_corporation freddie_mac area relevant property located sec amends nha insurance home equity conversion mortgages elderly homeowners redefine mortgage leasehold lease term ends earlier minimum number years specified secretary actuarial life expectancy mortgagor mortgagor currently lease having period years run maturity date mortgage sec expresses sense congress secretary treasury use amounts available act purchase mortgage revenue bonds single family housing issued state housing finance agencies local governments agencies title iii mortgage fraud task force sec expresses sense congress department_of_justice establish address mortgage fraud united_states title foreclosure moratorium provisions sec expresses sense congress mortgage holders institutions mortgage servicers initiate foreclosure proceeding foreclosure sale homeowner specified foreclosure mitigation provisions like hope homeowners program president stability plan implemented determined operational secretary secretary treasury sec public private investment program improvement oversight act sets forth requirements federal program create public private investment fund including requirement impose strict conflict interest rules managers funds order ensure securities purchases arms length transactions fiduciary duties public private investors violated disclosure relevant facts financial interests requires manager public private fund identify periodically secretary investor holding equity interests equal equity interest fund including interests held vehicle formed purpose directly indirectly investing fund authorizes additional appropriations special inspector general troubled_asset_relief_program reduces billion addition reduction section billion limit authority secretary treasury purchase troubled assets troubled_asset_relief_program tarp sec amends eesa change mandatory discretionary authority liquidate warrants tarp sec amends tila require additional disclosures new owner assignee debt furnish borrower days date mortgage loan transferred assigned party title farm loan restructuring sec amends eesa instruct congressional_oversight_panel submit special report farm loan restructuring analyzes state commercial farm credit markets use loan restructuring alternative foreclosure recipients tarp financial assistance includes examination recommendation different farm loan restructuring methods foreclosure mitigation program farm loans tarp recipients title enhanced oversight sec amends eesa direct comptroller general oversee performance tarp meeting eesa purposes public accountability exercise tarp authority including respect actions taken eesa program participants requires contract term sheet agreement secretary treasury tarp tarp vehicle officer director employee independent public accountant financial advisor tarp agent representative non governmental entity participating eesa program provide access comptroller_general title vii protecting tenants foreclosure act protecting tenants foreclosure act sec declares case foreclosure federally related mortgage loan dwelling residential real property date enactment act immediate successor interest property pursuant foreclosure shall assume interest subject provision successor notice vacate bona fide non mortgagor tenant days effective date notice specified rights tenant occupy property end remaining lease term sec amends united_states housing act declare case owner immediate successor interest pursuant foreclosure initial term lease tenant vacating property prior sale shall constitute good cause terminating tenancy occupancy rights victim domestic similar violence stalking allows owner terminate tenancy effective date unit transfer owner owner occupy unit primary residence given tenant notice vacate days effective date notice declares case foreclosure federally related mortgage loan residential real property recipient public housing assistance resides immediate successor interest assumes interest subject lease prior owner tenant housing assistance payments contract prior owner public housing agency occupied unit sec terminates title december title viii sec prohibits personnel government_accountability_office gao disclosing person outside gao information obtained audits examinations maintained confidential board_of_governors federal_reserve_system board federal reserve banks grants comptroller general access officers employees contractors agents representatives agency including entity established agency authorizes comptroller general retain copies agency records authorizes comptroller general conduct audits including onsite examinations specified actions taken board respect single specific partnership corporation division homelessness reform homeless emergency assistance rapid transition housing act sec amends mckinney-vento homeless assistance act act consolidate housing assistance programs homeless persons sec redefines homelessness include victims domestic violence dangerous life threatening conditions persons sec declares mission coordinate federal response homelessness create national partnership level government private sector reduce end homelessness nation maximizing effectiveness federal contributions end homelessness requires executive director council submit president congress national strategic plan end homelessness update annually authorizes appropriations fy2010 fy2011 title housing assistance general provisions sec prescribes requirements selection community homeless assistance planning boards particularly collaborative applicants requires collaborative applicant design collaborative process develop homeless assistance grant applications evaluate project outcomes establish priorities funding projects participate geographic area served applicant ensure operation consistent participation project sponsors community wide homeless management information system hmis act unified funding agency distribute hud funds project sponsors applicable geographic area funds projects sec prohibits project sponsor receiving funds provide emergency shelter transitional housing permanent housing families children age denying admission family based age child sec requires secretary instruct victim service provider recipient subgrantee disclose purposes hmis personally identifying information client sec authorizes appropriations fy2010 fy2011 title emergency solutions grants program sec prescribes requirements program emergency solutions grants states local governments private nonprofit organizations providing assistance persons experiencing homelessness risk homelessness sec specifies activities eligible assistance grants including renovation major rehabilitation conversion buildings emergency shelters essential services related emergency shelter street outreach provision related utilities rental assistance provide short term medium term housing homeless individuals families risk homelessness housing relocation stabilization services sec requires secretary ensure recipients housing assistance funds ensure consistent participation emergency shelters homelessness prevention programs applicable communitywide homeless management information system sec increases emergency solutions grant recipient use administrative purposes sec directs comptroller general study report congress costs administering emergency shelter grants program title iii continuum care program sec prescribes requirements continuum care grants program support efforts homeless individuals families quickly minimizing trauma caused sec specifies activities eligible project assistance grants including construction new housing units provide transitional permanent housing acquisition rehabilitation structure provide non emergency transitional permanent housing supportive services property leasing rental assistance provide transitional permanent housing payment operating costs assisted preserved housing units supportive services currently homeless individuals families services communitywide homeless management information system payment specified administrative costs sec directs secretary designate annually collaborative applicants represent high performing communities meeting certain criteria short terms homelessness low recurring rates homelessness specified community action sec revises supportive housing program requirements sec requires secretary award funds recipients national competition geographic areas based criteria meeting specified requirements prescribes minimum allocation permanent housing homeless individuals families disabilities sec authorizes appropriations fy2010 fy2011 research efficacy interventions homeless families expended years different sites provide services homeless families evaluate effectiveness services title sec renames rural homelessness grant program rural housing stability assistance program revises program requirements adds eligible activities construction new housing units provide transitional permanent housing acquisition rehabilitation structure provide non emergency transitional permanent housing supportive services property leasing rental assistance provide transitional permanent housing payment operating costs assisted housing units sec requires comptroller general study report congress homelessness homeless assistance rural areas title repeals conforming amendments sec amends act repeal mandates safe havens demonstration program feasibility providing low cost housing homeless persons participate mental health treatment programs financial assistance single room occupancy dwellings shelter plus care program rental housing assistance homeless persons certain disabilities families


Summary: Credit Card Safety Star Act of 2009 - Amends the Truth in Lending Act to direct the Board of Governors of the Federal Reserve System to promulgate rules to implement a Safety Star System, with one to five stars, to allow consumers to compare quickly and easily the terms, conditions, and levels of safety associated with various open end credit plan agreements. Specifies a point structure for rating credit cards. Assigns an automatic one-star rating (the lowest level of safety) to any open end credit plan that allows the card issuer to modify the terms of the agreement with a cardholder at any time or periodically for unspecified or unstated reasons. Establishes the Credit Card Safety Star Advisory Commission.

amends truth lending act direct board_of_governors federal_reserve_system promulgate rules implement stars allow consumers compare quickly easily terms conditions levels safety associated open end credit plan agreements specifies point structure rating credit cards assigns automatic star rating lowest level safety open end credit plan allows card issuer modify terms agreement cardholder time periodically unspecified reasons establishes


Summary: Authorizing the Regulation of Swaps Act - Amends the Gramm-Leach-Bliley Act, the Securities Act of 1933, the Securities Exchange Act of 1934, the Commodity Futures Modernization Act of 2000, the Legal Certainty for Bank Products Act of 2000, and the Commodity Exchange Act to repeal prohibitions against regulation of credit default swaps and other swap agreements, whether traded on an exchange or over-the-counter, including commodity, equity, foreign currency, and interest rate swaps. Authorizes the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and specified other federal financial regulators to: (1) exercise oversight over any swap agreement entered into, purchased, or sold by any financial institution, entity, or person (for its own account or for the account of others), and any swap agreement, that is subject to the regulator's jurisdiction; and (2) promulgate, interpret, and enforce regulations, issue orders of general applicability, and impose disclosure, reporting, or recordkeeping requirements relating to any such swap agreement. Grants the SEC sole oversight authority over: (1) any exchange or clearing agency; and (2) any swap agreement traded on or cleared through such exchange or clearing agency. Grants the CFTC sole oversight authority over: (1) any trading facility or registered entity; and (2) any swap agreement executed on, traded on, or cleared through such trading facility or registered entity.

authorizing regulation swaps act amends gramm leach bliley act securities act securities_exchange_act commodity_exchange_act repeal prohibitions regulation credit default swaps swap agreements traded exchange counter including commodity equity foreign currency interest rate swaps authorizes securities_and_exchange_commission sec commodity_futures_trading_commission cftc specified federal financial regulators exercise oversight swap agreement entered purchased sold financial institution entity person account account swap agreement subject regulator jurisdiction promulgate interpret enforce regulations issue orders general applicability impose disclosure reporting recordkeeping requirements relating swap agreement grants sec sole oversight authority exchange clearing agency swap agreement traded cleared exchange clearing agency grants cftc sole oversight authority trading facility registered entity swap agreement executed traded cleared trading facility registered entity


Summary: Rating Accountability and Transparency Enhancement Act of 2009 or the RATE Act - Amends the Securities Exchange Act of 1934 to require the Securities and Exchange Commission (SEC) to review credit ratings and methodologies employed by each nationally recognized statistical rating organization (NRSRO) to ensure that the NRSRO complies with its internal controls for determining credit ratings. Requires each NRSRO to establish establish and enforce governance procedures to manage conflicts of interest in accordance with SEC rules. Directs the SEC to issue specified rules to prohibit, or require the management and disclosure of, any conflicts of interest relating to the issuance of credit ratings by an NRSRO. Requires an NRSRO to review and revise a credit rating, if appropriate, in any case in which an employee of an obligor, issuer, or underwriter of a security or money market instrument was employed by an NRSRO and participated in determining such credit ratings for the obligor or the issuer during the one-year period preceding the date of the credit rating (look-back requirement). Requires each NRSRO to designate a compliance officer to perform specified duties. Directs the SEC to establish an office to administer SEC rules with respect to the practices of NRSROs in determining ratings to ensure that credit ratings NRSROs issue are accurate and not unduly influenced by conflicts of interest. Directs the SEC to require each NRSRO to disclose publicly information on initial ratings and subsequent changes in order to: (1) provide a gauge of the accuracy of ratings; and (2) allow users of credit ratings to compare performance of ratings by different NRSROs. Requires the SEC to promulgate rules on credit rating procedures and methodologies. Modifies the scienter requirement in a private action for money damages against an NRSRO to provide that it shall be sufficient for the complaint to state with particularity facts giving rise to a strong inference that the NRSRO knowingly or recklessly failed either to: (1) conduct a reasonable investigation of the rated security with respect to the factual elements relied upon by its own methodology for evaluating credit risk; or (2) obtain reasonable verification of such factual elements from other sources that it considered to be competent and that were independent of the issuer and underwriter. Directs the Comptroller General to study and report to Congress on implementation of this Act, including: (1) the appropriateness of relying on ratings for use in federal, state, and local securities, banking regulations, and capital requirements determinations; and (2) the effect of liability in private actions and the scienter modification of this Act.

rate act amends securities exchange act require securities_and_exchange_commission sec review credit ratings methodologies employed nationally recognized statistical rating organization ensure complies internal controls determining credit ratings requires establish establish enforce governance procedures manage conflicts interest accordance sec rules directs sec issue specified rules prohibit require management disclosure conflicts interest relating issuance credit ratings requires review revise credit rating appropriate case employee obligor issuer underwriter security money market instrument employed participated determining credit ratings obligor issuer year period preceding date credit rating look requirement requires designate compliance officer perform specified duties directs sec establish office administer sec rules respect practices nrsros determining ratings ensure credit ratings nrsros issue accurate unduly influenced conflicts interest directs sec require disclose publicly information initial ratings subsequent changes order provide gauge accuracy ratings allow users credit ratings compare performance ratings different nrsros requires sec promulgate rules credit rating procedures methodologies modifies requirement private action money damages provide shall sufficient complaint state facts giving rise strong inference knowingly recklessly failed conduct reasonable investigation rated security respect factual elements relied methodology evaluating credit risk obtain reasonable verification factual elements sources considered competent independent issuer underwriter directs comptroller general study report congress implementation act including appropriateness relying ratings use federal state local securities banking regulations capital requirements determinations effect liability private actions modification act


Summary: Home Buyer Tax Credit Act of 2009 - Amends the Internal Revenue Code to replace the current tax credit for first-time homebuyers with a one-time credit for 10% of the purchase price of a principal residence, up to $15,000. Requires repayment of credit amounts if the taxpayer sells or fails to occupy the residence within 24 months after the date of purchase.

amends internal revenue code replace current tax credit time homebuyers time credit purchase price principal residence requires repayment credit amounts taxpayer sells fails occupy residence months date purchase


Summary: Preserving Homes and Communities Act of 2009 - Prohibits a covered mortgagee from initiating or continuing a foreclosure proceeding against a covered mortgagor that is otherwise authorized under state law unless: (1) the mortgagee has determined whether the mortgagor is eligible for a qualified loan modification (QLM); (2) the mortgagee has offered a QLM to the mortgagor, if eligible; and (3) the mortgagee has made available to the mortgagor, if ineligible for a QLM, the note, deed of trust, or any other document necessary to establish the mortgagee's right to foreclose on the mortgage. Prohibits a covered mortgagee from charging a mortgagor a QLM or other specified fees. Amends the Housing and Urban Development Act of 1968 to direct the Secretary of Housing and Urban Development (HUD) to award grants to state housing finance agencies (or state-designated eligible agencies) to enable them to provide: (1) one-time emergency grants or subsidized loans to assist eligible homeowners in satisfying any amounts past due on their home loans; (2) grants or subsidized loans to eligible homeowners for a specified number of future mortgage payments; and (3) stipends of up to $1,500 to assist with relocation expenses for homeowners not eligible for the program. Directs the Secretary to make competitive grants to state and local governments to establish compulsory mortgagee-mortgagor mediation programs that assist mortgagors facing foreclosure. Requires the Secretary to develop and implement a plan to monitor: (1) conditions and trends in homeownership and the mortgage industry in order to predict foreclosure trends; and (2) the effectiveness of public efforts to reduce mortgage defaults and foreclosures. Requires the Secretary also to develop recommendations for a national database on mortgage defaults and foreclosures to provide relevant information to federal regulatory agencies as well as federal, state, and local governments. Directs the Secretary of the Treasury to transfer and credit $1 billion to the Housing Trust Fund from funds received from the sale of warrants under the Troubled Asset Relief Program (TARP) under the Emergency Economic Stabilization Act of 2008 (EESA).

preserving homes communities act prohibits covered mortgagee initiating continuing foreclosure proceeding covered mortgagor authorized state law mortgagee determined mortgagor eligible qualified loan modification mortgagee offered mortgagor eligible mortgagee available mortgagor ineligible note deed trust document necessary establish mortgagee right foreclose mortgage prohibits covered mortgagee charging mortgagor specified fees amends housing_and_urban_development_act direct secretary housing_and_urban_development hud award grants state housing finance agencies state designated eligible agencies enable provide time emergency grants subsidized loans assist eligible homeowners satisfying amounts past home loans grants subsidized loans eligible homeowners specified number future mortgage payments stipends assist relocation expenses homeowners eligible program directs secretary competitive grants state local governments establish compulsory mortgagee mortgagor mediation programs assist mortgagors facing foreclosure requires secretary develop implement plan monitor conditions trends homeownership mortgage industry order predict foreclosure trends effectiveness public efforts reduce mortgage defaults foreclosures requires secretary develop recommendations national database mortgage defaults foreclosures provide relevant information federal regulatory agencies federal state local governments directs secretary treasury transfer credit billion housing_trust_fund funds received sale warrants troubled_asset_relief_program tarp emergency_economic_stabilization_act eesa


Summary: Amends the Internal Revenue Code to extend through 2011 the period for placing in service buildings located in a disaster area that are eligible for allocations of low-income housing tax credit amounts.

amends internal revenue code extend period placing service buildings located disaster area eligible allocations low income housing tax credit amounts


Summary: Credit Card Rate Freeze Act of 2009 - Prohibits a creditor, during a specified nine-month period, from: (1) increasing any annual percentage rate (APR), fee, or finance charge applicable to any outstanding balance of any credit card account under an open end consumer credit plan; or (2) changing the terms governing repayment of any outstanding balance, except as permitted by the Credit Card Accountability Responsibility and Disclosure Act of 2009. Authorizes the Board of Governors of the Federal Reserve System to prescribe implementing regulations.

prohibits creditor specified month period increasing annual percentage rate apr fee finance charge applicable outstanding balance credit card account open end consumer credit plan changing terms governing repayment outstanding balance permitted credit_card_accountability_responsibility disclosure act authorizes board_of_governors federal_reserve_system prescribe implementing regulations


Summary: TARP Sunset Act of 2009 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to terminate, on December 31, 2009 (as under current law), the authority of the Secretary of the Treasury to implement the Troubled Asset Relief Program (TARP). Repeals the Secretary's authority to extend the TARP program through October 3, 2010, upon submission of a written certification to Congress.

tarp sunset act amends emergency economic stabilization act eesa terminate december current law authority secretary treasury implement troubled_asset_relief_program tarp repeals secretary authority extend tarp program october submission written certification congress


Summary: Foreclosure Mandatory Mediation Act of 2009 - Amends the Helping Families Save Their Homes Act of 2009 to require the mortgagee of certain one- to four-family residences, as a prerequisite to a foreclosure proceeding or a sheriff sale, and at the mortgagee's expense, to conduct a one-time mediation with the affected mortgagor and a housing counseling agency.

foreclosure mandatory mediation act amends helping families save homes act require mortgagee certain one- family residences prerequisite foreclosure proceeding sheriff sale mortgagee expense conduct time mediation affected mortgagor housing counseling agency


Summary: Homeowners' Relief and Neighborhood Stabilization Act of 2010 - Directs the Secretary of the Treasury to transfer to the Secretary of Housing and Urban Development (HUD) $3 billion from Troubled Asset Relief Program (TARP) funds under the Emergency Economic Stabilization Act of 2008 (EESA), to be credited to the Emergency Homeowners' Relief Fund for use for emergency mortgage assistance. Allows mortgage assistance if the mortgagor has incurred a substantial reduction in income as a result of involuntary unemployment or underemployment due to medical conditions. Caps the aggregate amount of emergency mortgage assistance provided to a homeowner at $50,000. Revises conditions and terms of repayment of such assistance to state that: (1) the rate of interest on any loan or advance of credit insured shall be fixed for the life of the loan or advance of credit and shall not exceed the rate of interest generally charged for mortgages on single-family housing insured by the HUD Secretary; (2) interest shall not be charged on interest which is deferred on a loan or advance of credit; and (3) an eligible homeowner who receives a grant or an advance of credit may repay the loan in full, without penalty at any time before the loan becomes due and payable. Repeals the limitation on mortgage insurance granted by the Secretary to any financial institution to 40% of the total amount of loans and advances the institution makes. Directs the HUD Secretary to allow funds to be administered by a state with an existing program that provides substantially similar assistance to homeowners. Amends the Emergency Housing Act of 1975 to reauthorize the Emergency Mortgage Relief Program through FY2011. Directs the Secretary of the Treasury to transfer to HUD $1 billion for assistance to states and local governments for redevelopment of abandoned and foreclosed homes.

homeowners relief neighborhood stabilization act directs secretary treasury transfer secretary housing_and_urban_development hud billion troubled_asset_relief_program tarp funds emergency_economic_stabilization_act eesa credited emergency homeowners relief fund use emergency mortgage assistance allows mortgage assistance mortgagor incurred substantial reduction income result involuntary unemployment medical conditions caps aggregate emergency mortgage assistance provided homeowner revises conditions terms repayment assistance state rate interest loan advance credit insured shall fixed life loan advance credit shall exceed rate interest generally charged mortgages single family housing insured hud secretary interest shall charged interest deferred loan advance credit eligible homeowner receives grant advance credit repay loan penalty time loan payable repeals limitation mortgage insurance granted secretary financial institution total loans advances institution makes directs hud secretary allow funds administered state existing program provides substantially similar assistance homeowners amends emergency housing act reauthorize emergency mortgage relief program fy2011 directs secretary treasury transfer hud billion assistance states local governments redevelopment abandoned foreclosed homes


Summary: Amends the Internal Revenue Code to: (1) increase the rate of the tax credit for retirement savings contributions (saver's credit); and (2) make such credit refundable.

amends internal revenue code increase rate tax credit retirement savings contributions saver credit credit refundable


Summary: Payday Lending Limitation Act of 2010 - Amends the Truth in Lending Act to prohibit extending consumer credit of $3,000 or less, with an annual percentage rate (APR) exceeding 36% (or, in specified circumstances, 25%) and a term or amortization period of 91 days or less (covered loan), to an individual who has had in the aggregate: (1) six covered loans extended during the preceding 12-month period; or (2) covered loan obligations of 90 days or longer during the preceding 12-month period. Requires the Board of Governors of the Federal Reserve System to issue specified implementing rules governing covered loans. Declares unenforceable with respect to a consumer any contract made in violation of this Act. Declares that this Act neither preempts nor prevents state law from providing greater protection to consumers than is provided under this Act.

payday lending limitation act amends truth lending act prohibit extending consumer credit annual percentage rate apr exceeding specified circumstances term amortization period days covered loan individual aggregate covered loans extended preceding month period covered loan obligations days longer preceding month period requires board_of_governors federal_reserve_system issue specified implementing rules governing covered loans declares unenforceable respect consumer contract violation act declares act preempts prevents state law providing greater protection consumers provided act


Summary: Debt Settlement Consumer Protection Act of 2010 - Amends the Consumer Credit Protection Act to prohibit debt settlement providers from providing a debt settlement service or receiving a fee from a consumer without a signed written contract meeting specified requirements. Prohibits debt settlement providers from engaging in certain acts or practices, including: (1) making loans or offering credit or soliciting or accepting any note, mortgage, or negotiable instrument other than a check signed by the consumer and dated no later than the date of signature; (2) taking a confession of judgment or power of attorney to confess judgment against the consumer or appearing as the consumer or on the consumer's behalf in any judicial or non-judicial proceedings; (3) taking any release or waiver of an obligation to be performed on the part of the debt settlement provider or any right of the consumer; (4) receiving any third-party compensation for providing the consumer with a debt settlement service; or (5) purchasing debts or engaging in debt collection. Permits debt settlement providers to charge enrollment and settlement fees, but no others. Requires a debt settlement provider who receives funds from a consumer to hold them for a consumer settlement account in a properly designated trust account in a federally insured depository institution not affiliated with the provider. Permits a consumer to cancel a contract with a debt settlement provider at any time, in accordance with specified requirements and procedures. Declares void and unenforceable: (1) a consumer's waiver of any consumer protection or right provided under this Act; and (2) any contract for a debt settlement service that does not comply with this Act. Prohibits a debt settlement provider from engaging in certain advertising, marketing, or other communication practices except in accordance with specified requirements. Authorizes the Federal Trade Commission (FTC) to prescribe rules governing advertising and marketing practices, record retention, and provision of accountings to consumers, as well as debt relief service rules. Subjects a debt settlement provider to civil liability (including punitive damages) for noncompliance with this Act. Empowers the FTC to enforce this Act. Authorizes a state to bring a civil action in federal court on behalf of its residents for noncompliance with this Act.

debt settlement consumer protection act amends consumer credit protection act prohibit debt settlement providers providing debt settlement service receiving fee consumer signed written contract meeting specified requirements prohibits debt settlement providers engaging certain acts practices including making loans offering credit soliciting accepting note mortgage negotiable instrument check signed consumer dated later date signature taking judgment power attorney judgment consumer appearing consumer consumer behalf judicial non judicial proceedings taking release waiver obligation performed debt settlement provider right consumer receiving party compensation providing consumer debt settlement service purchasing debts engaging debt collection permits debt settlement providers charge enrollment settlement fees requires debt settlement provider receives funds consumer hold consumer settlement account properly designated trust account federally insured depository institution affiliated provider permits consumer cancel contract debt settlement provider time accordance specified requirements procedures declares void unenforceable consumer waiver consumer protection right provided act contract debt settlement service comply act prohibits debt settlement provider engaging certain advertising marketing communication practices accordance specified requirements authorizes federal_trade_commission ftc prescribe rules governing advertising marketing practices record retention provision consumers debt relief service rules subjects debt settlement provider civil liability including punitive damages noncompliance act empowers ftc enforce act authorizes state bring civil action federal court behalf residents noncompliance act


Summary: Amends the Fair Credit Reporting Act with respect to the duties of users of consumer reports who take adverse actions on the basis of information contained in such reports. Excludes any health care practice, accounting practice, or legal practice with 20 or fewer employees from the meaning of creditor subject to Red Flag Guidelines regarding identity theft promulgated by the proper federal financial regulatory agency. Excludes any other business which the Federal Trade Commission (FTC) determines: (1) knows all its customers or clients individually; (2) only performs services in or around the residences of its customers; or (3) has not experienced incidents of identity theft, and identity theft is rare for businesses of that type. States that such exclusion shall no longer apply to any business that can no longer meet such eligibility criteria.

amends fair credit reporting act respect duties users consumer reports adverse actions basis information contained reports excludes health care practice accounting practice legal practice fewer employees meaning creditor subject red flag guidelines identity theft promulgated proper federal financial regulatory agency excludes business federal_trade_commission ftc determines knows customers clients individually performs services residences customers experienced incidents identity theft identity theft rare businesses type states exclusion shall longer apply business longer meet eligibility criteria


Summary: Medical Debt Relief Act of 2010 - Amends the Fair Credit Reporting Act to prohibit a consumer reporting agency from making any report containing information related to a fully paid or settled medical debt that had been characterized as delinquent, charged off, or in collection which, from the date of payment or settlement, antedates the report by more than 45 days.

medical debt relief act amends fair credit reporting act prohibit consumer reporting agency making report containing information related fully paid settled medical debt characterized delinquent charged collection date payment settlement antedates report days


Summary: Amends the Internal Revenue Code to make permanent the tax deduction for mortgage insurance premiums.

amends internal revenue code permanent tax deduction mortgage insurance premiums