,i #aafth ,,congress #ast ,session ,h4 ,r4 #bbie ,,in ,,the ,,house ,,of ,,representatives ,april #ab1 #bjai,ms4 ,clarke of ,new ,york 7for herself1 ,mr4 ,espaillat1 ,ms4 ,meng1 and ,ms4 ,ocasio-,cortez7 introduced the following bill2 which was referred to the ,committee on ,financial ,services ,a ,,bill ,to provide additional funding for the public housing ,capital ,fund for large public housing agencies1 for mortgage foreclosure mitigation assistance1 and for incremental rental assistance vouchers1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,hardest ,hit ,housing ,act of #bjai4 #b4 ,capital ,fund amounts for large public housing agencies 7a7 ,authorization of appropriations ,in addition to any amounts authorized to be appropriated for formula grants to public housing agencies from the ,capital ,fund pursuant to section #i7;d77#b7 of the ,united ,states ,housing ,act of #aicg 7#db ,u4,s4,c4 #adcg;g7d77#b771 there is authorized to be appropriated #d1jjj1jjj1jjj for each of fiscal years #bjai through #bjbc for the ,public ,housing ,capital ,fund ,program under section #i7;d7 of the ,united ,states ,housing ,act of #aicg 7#db ,u4,s4,c4 #adcg;g7b774 7b7 ,eligible public housing agencies ,any amounts appropriated pursuant to this section shall be used by the ,secretary of ,housing and ,urban ,development only for grants to public housing agencies that own or administer more than #aj1jjj public housing dwelling units4 7c7 ,eligible uses ,funds from grants made with amounts appropriated pursuant to this section may be used only for eligible capital activities under section #i7;d77#a7 of the ,united ,states ,housing ,act of #aicg 7#db ,u4,s4,c4 #adcg;g7d77#a774 ,section #i7;g77#c7 of such ,act shall not apply to any such grant funds4 #c4 ,assistance to ,neighbor,works for mortgage foreclosure mitigation activities ,there is authorized to be appropriated #e1jjj1jjj1 for each of fiscal years #bjai through #bjbc for assistance to the ,neighborhood ,reinvestment ,corporation for mortgage foreclosure mitigation activities1 under the following terms and conditions3 7#a7 ,mortgage foreclosure mitigation counseling 7,a7 ,the ,neighborhood ,reinvestment ,corporation 7in this section referred to as the ,,nrc7 may make grants under this paragraph to counseling intermediaries approved by the ,department of ,housing and ,urban ,development 7in this section referred to as ,,hud7 7with match to be determined by ,,nrc based on affordability and the economic conditions of an area2 a match also may be waived by ,,nrc based on the aforementioned conditions7 to provide mortgage foreclosure mitigation assistance to the #ae ,states with highest rates of home mortgage defaults and foreclosures1 as of ,january #a1 #bjai1 to help eliminate the default and foreclosure of mortgages of owner-occupied single-family homes that are at risk of such foreclosure and located in metropolitan statistical areas having the greatest such need4 ,other than areas with high rates of defaults and foreclosures1 grants may also be provided to approved counseling intermediaries based on a geographic analysis of the ,nation by ,,nrc which determines where there is a prevalence of mortgages that are risky and likely to fail1 including any trends for mortgages that are likely to default and face foreclosure4 ,a ,state ,housing ,finance ,agency may also be eligible where the ,state ,housing ,finance ,agency meets all the requirements under this paragraph4 ,a ,,hud-approved counseling intermediary shall meet certain mortgage foreclosure mitigation assistance counseling requirements1 as determined by ,,nrc1 and shall be approved by ,,hud or ,,nrc as meeting these requirements4 7,b7 ,mortgage foreclosure mitigation assistance shall only be made available to homeowners of owner-occupied homes with mortgages in default or in danger of default4 ,these mortgages shall likely be subject to a foreclosure action and homeowners will be provided such assistance that shall consist of activities that are likely to prevent foreclosures and result in the long-term affordability of the mortgage retained pursuant to such activity or another positive outcome for the homeowner4 ,no funds made available pursuant to this paragraph may be provided directly to lenders or homeowners to discharge outstanding mortgage balances or for any other direct debt reduction payments4 7,c7 ,the use of mortgage foreclosure mitigation assistance by approved counseling intermediaries and ,state ,housing ,finance ,agencies shall involve a reasonable analysis of the borrower's financial situation1 an evaluation of the current value of the property that is subject to the mortgage1 counseling regarding the assumption of the mortgage by another non-,federal party1 counseling regarding the possible purchase of the mortgage by a non-,federal third party1 counseling and advice of all likely restructuring and refinancing strategies or the approval of a work-out strategy by all interested parties4 7,d7 ,,nrc may provide up to #ae percent of the total funds made available pursuant to this paragraph to its own charter members with expertise in foreclosure prevention counseling1 subject to a certification by ,,nrc that the procedures for selection do not consist of any procedures or activities that could be construed as a conflict of interest or have the appearance of impropriety4 7,e7 ,,hud-approved counseling entities and ,state ,housing ,finance ,agencies receiving funds made available pursuant to this paragraph shall have demonstrated experience in successfully working with financial institutions as well as borrowers facing default1 delinquency1 and foreclosure as well as documented counseling capacity1 outreach capacity1 past successful performance and positive outcomes with documented counseling plans 7including post-mortgage foreclosure mitigation counseling71 loan workout agreements1 and loan modification agreements4 ,,nrc may use other criteria to demonstrate capacity in underserved areas4 7,f7 ,of the total amount made available pursuant to this paragraph1 up to #bej1jjj may be made available to build the mortgage foreclosure and default mitigation counseling capacity of counseling intermediaries through ,,nrc training courses with ,,hud-approved counseling intermediaries and their partners1 except that private financial institutions that participate in ,,nrc training shall pay market rates for such training4 7,g7 ,of the total amount made available pursuant to this paragraph1 up to #e percent may be used for associated administrative expenses for ,,nrc to carry out activities provided under this paragraph4 7,h7 ,mortgage foreclosure mitigation assistance grants may include a budget for outreach and advertising1 and training1 as determined by ,,nrc4 7,i7 ,,nrc shall report bi-annually to the ,house and ,senate ,committees on ,appropriations as well as the ,senate ,committee on ,banking1 ,housing1 and ,urban ,affairs and the ,house ,committee on ,financial ,services on its efforts to mitigate mortgage default4 7#b7 ,legal assistance 7,a7 ,the ,neighborhood ,reinvestment ,corporation may make grants to counseling intermediaries approved by ,,hud or the ,,nrc to hire attorneys to assist homeowners who have legal issues directly related to the homeowner's foreclosure1 delinquency1 or short sale4 7,b7 ,such attorneys shall be capable of assisting homeowners of owner-occupied homes with mortgages in default1 in danger of default1 or subject to or at risk of foreclosure and who have legal issues that cannot be handled by counselors already employed by such intermediaries4 7,c7 ,grants under this paragraph may only be made to counseling intermediaries and legal organizations that 7i7 provide legal assistance in the #ae ,states with the highest rates of home mortgage defaults and foreclosures1 as of ,january #a1 #bjai1 and 7ii7 have the capacity to begin using the financial assistance within #ij days after receipt of the assistance4 7,d7 ,no funds made available pursuant to this paragraph shall be used to provide1 obtain1 or arrange on behalf of a homeowner1 legal representation involving or for the purposes of civil litigation4 #d4 ,incremental housing choice voucher assistance 7a7 ,authorization of appropriations ,there is authorized to be appropriated for each of fiscal years #bjai through #bjbc such sums as may be necessary to provide in each such fiscal year #bj1jjj incremental vouchers for rental assistance under section #h7o7 of the ,united ,states ,housing ,act of #aicg 7#db ,u4,s4,c4 #adcg;f7o774 7b7 ,eligible public housing agencies ,any amounts appropriated pursuant to this section shall be used by the ,secretary of ,housing and ,urban ,development only to provide additional amounts for rental assistance vouchers for public housing agencies that administer #aj1jjj or more vouchers for rental assistance under such section #h7o74