April 9, 2008, 12:00 am ET - Amendment SA 4398 proposed by Senator Dodd for Senator Salazar.
April 9, 2008, 12:00 am ET - Amendment SA 4398 as modified agreed to in Senate by Unanimous Consent.
Full Text of this Amendment
which was ordered to lie on the table; as follows:
At the end of title IV, add the following:
SEC. 402. CREDIT COUNSELING.
(a) In General.--Entities approved by the Neighborhood Reinvestment Corporation or the Secretary and State housing finance entities receiving funds under this title shall work to identify and coordinate with State and local non-profit organizations operating statewide toll-free foreclosure prevention hotlines, including those that--
(1) serve as a consumer referral source and data repository for borrowers experiencing some form of delinquency or foreclosure;
(2) connect callers with local housing counseling agencies approved by the Neighborhood Reinvestment Corporation or the Secretary to assist with working out a positive resolution to their mortgage delinquency or foreclosure; or
(3) facilitate or offer free assistance to help homeowners to understand their options, negotiate solutions, and find the best resolution for their particular circumstances.
(As printed in the Congressional Record for the Senate on Apr 3, 2008.)