Download Conference Presentations - Mortgage Lending Industry ...

• Requires the Secretary ensure, to the maximum extent practicable and for the longest
feasible term, that the homes and properties remain affordable.
Housing Counseling
• Appropriates $180 million to the NRC to remain available until September 30, 2008 for
foreclosure mitigation activities.
• Requires the NRC to use $30 million of the $180 million in counseling funds to make
grants to counseling intermediaries or to hire attorneys and assist homeowners with
legal issues directly related to the homeowner’s foreclosure, delinquency, or short sale.
• Requires that at least 15 percent of counseling funds be provided to counseling
organizations that target loss mitigation counseling services to minority and low-income
homeowners or provide such services in neighborhoods with high concentrations of
minority and low-income homeowners.
Revised, 8/6/08