text: SECTION 1. SHORT TITLE.
  
      This Act may be cited as the ``Making Home Affordable Improvements 
  Act''.
  
  SEC. 2. ALLOCATION OF MAKING HOME AFFORDABLE FUNDING FOR FORECLOSURE 
                MITIGATION COUNSELING IN CONNECTION WITH HOME AFFORDABLE 
                MODIFICATION PROGRAM AND HOME AFFORDABLE FORECLOSURE 
                ALTERNATIVES PROGRAM.
  
      (a) Funding for Foreclosure Mitigation Counseling.--From any 
  amounts made available for carrying out the Making Home Affordable 
  initiative of the Secretary of the Treasury pursuant to title I of the 
  Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5211 et seq.), 
  the Secretary shall provide assistance, in the amounts provided under 
  subsection (c), to the National Foreclosure Mitigation Counseling 
  Program for foreclosure mitigation counseling activities in connection 
  with the Home Affordable Modification Program (HAMP) of such 
  initiative.
      (b) Distribution of Assistance.--
              (1) In general.--The National Foreclosure Mitigation 
          Counseling Program shall distribute amounts received pursuant 
          to subsection (a) to grantees in good standing in accordance 
          with guidelines, policies, and procedures of the Program.
              (2) Housing counseling agency eligibility.--For a housing 
          counseling agency to be eligible to receive assistance from 
          amounts received pursuant to subsection (a), the agency must be 
          a recipient of funding from the National Foreclosure Mitigation 
          Counseling Program.
      (c) Formula for Funding.--The amount provided under this subsection 
  shall be an amount, for each mortgage modified under the Home 
  Affordable Modification Program, as follows:
              (1) Trial modifications.--For each mortgage for which a 
          servicer or lender has entered into a trial modification under 
          the Program with the borrower, $500.
              (2) Permanent modifications.--For each mortgage for which a 
          servicer or lender has entered into a permanent modification 
          under the Program with the borrower, $750.
              (3) Home affordable foreclosure alternatives program.--For 
          each mortgage for which the servicer or lender has agreed to an 
          alternative to foreclosure under the Home Affordable 
          Foreclosure Alternatives (HAFA) Program, $300.
      (d) Administrative Fees.--The Neighborhood Reinvestment Corporation 
  may use up to 15 percent of the amount allocated under subsection (a) 
  for administrative expenses.
      (e) Use of Foreclosure Mitigation Counseling Funds.--Not later than 
  the expiration of the 180-day period beginning on the date of the 
  enactment of this Act, the Neighborhood Reinvestment Corporation shall 
  establish a procedure by which the National Foreclosure Mitigation 
  Counseling Program shall direct the amounts provided to such Program 
  pursuant to this section to participating housing counseling agencies.
      (f) National Foreclosure Mitigation Counseling Program.--For 
  purposes of this section, the term ``National Foreclosure Mitigation 
  Counseling Program'' means the program of the Neighborhood Reinvestment 
  Corporation for mortgage foreclosure mitigation activities carried out 
  pursuant to--
              (1) title III of division K of the Consolidated 
          Appropriations Act, 2008 (Public Law 110-161; 121 Stat. 2441);
              (2) section 2305 of the Housing and Economic Recovery Act 
          of 2008 (42 U.S.C. 5301 note);
              (3) title III of division I of the Omnibus Appropriations 
          Act, 2009 (Public Law 111-8; 123 Stat. 9821); and
              (4) any other provision of law providing amounts to the 
          Neighborhood Reinvestment Corporation for such activities.
      (g) Guidelines.--The Secretary of the Treasury shall revise the 
  guidelines of the Making Home Affordable initiative and the Home 
  Affordable Modification Program as necessary to carry out this section.
  
  SEC. 3. COLLECTION OF PROGRAM DATA AND DISCLOSURE TO SECRETARY OF 
                HOUSING AND URBAN DEVELOPMENT.
  
      (a) Collection of Program Data.--The Secretary of the Treasury 
  shall revise the guidelines of the Home Affordable Modification Program 
  (HAMP) of the Making Home Affordable initiative of the Secretary, 
  authorized under title I of the Emergency Economic Stabilization Act of 
  2008 (12 U.S.C. 5211 et seq.), to provide for the collection, by the 
  Secretary on a monthly basis from each mortgage servicer and lender 
  participating in the Program, of comprehensive data on the activities 
  of the servicer or lender under the Home Affordable Modification 
  Program. Such comprehensive data shall identify the participating 
  housing counseling agency, when applicable, and shall include the 
  following information:
              (1) The number of requests for mortgage modifications under 
          the Program that the servicer or lender has received.
              (2) The number of requests for mortgage modifications under 
          the Program that the servicer or lender has received for 
          mortgages for borrowers having back-end debt-to-income ratios 
          equal to or greater than 55 percent.
              (3) The number of requests for mortgage modifications under 
          the Program that the servicer or lender has processed.
              (4) The number of requests for mortgage modifications under 
          the Program that the servicer or lender has processed for 
          mortgages for borrowers having back-end debt-to-income ratios 
          equal to or greater than 55 percent.
              (5) The number of requests for mortgage modifications under 
          the Program for which the servicer or lender has entered into a 
          trial modification with the borrower.
              (6) The number of requests for mortgage modifications under 
          the Program for which--
                      (A) the servicer or lender has entered into a trial 
                  modification with the borrower; and
                      (B) the borrower has a back-end debt-to-income 
                  ratio equal to or greater than 55 percent.
              (7) The number of requests for mortgage modifications under 
          the Program for which the servicer or lender has entered into a 
          permanent modification with the borrower.
              (8) The number of requests for mortgage modifications under 
          the Program for which--
                      (A) the servicer or lender has entered into a 
                  permanent modification with the borrower; and
                      (B) the borrower has a back-end debt-to-income 
                  ratio equal to or greater than 55 percent.
              (9) The number of requests for mortgage modifications under 
          the Program that the servicer or lender has denied.
              (10) The number of requests for mortgage modifications 
          under the Program that the servicer or lender has denied for 
          mortgages for borrowers having back-end debt-to-income ratios 
          equal to or greater than 55 percent.
      (b) Disclosure to Secretary of HUD.--Not later than 14 days after 
  each monthly deadline for submission of data by mortgage servicers and 
  lenders participating in the Home Affordable Modification Program, the 
  Secretary shall provide a report to the Secretary of Housing and Urban 
  Development containing such monthly data collected by the Secretary of 
  the Treasury from mortgage servicers and lenders participating in the 
  Program, including the information specified in subsection (a).
      (c) Public Availability.--Not later than 30 days after receipt by 
  the Secretary of Housing and Urban Development of each monthly report 
  pursuant to subsection (b), the Secretary of the Treasury shall make 
  such report publicly available by means of a World Wide Web site of the 
  Secretary and by submitting a report to the Congress.
  
  SEC. 4. DEFINITIONS.
  
      For purposes of this Act, the following definitions shall apply:
              (1) Back-end debt-to-income ratio.--The term ``back-end 
          debt-to-income ratio'' means, with respect to the borrower 
          under a mortgage for which a request for modification under the 
          Home Affordable Modification Program or a modification under 
          such Program has been made, the ratio of monthly payments due 
          on all debts of the borrower (including mortgage principal, 
          interest, taxes, and insurance, and all other recurring debt) 
          to the gross monthly income of the borrower before any such 
          modification under such Program, as further defined by the 
          Secretary in guidelines for the Home Affordable Modification 
          Program.
              (2) Secretary.--Except where specifically provided 
          otherwise, the term ``Secretary'' means the Secretary of the 
          Treasury.
target: Making Home Affordable Improvements Act - Directs the Secretary of the Treasury to provide assistance in specified amounts to the National Foreclosure Mitigation Counseling Program (Program) of the Neighborhood Reinvestment Corporation (NRC) for foreclosure mitigation counseling activities in connection with the Home Affordable Modification Program (HAMP) of the Making Home Affordable initiative.
  
  Directs the Program to distribute funds to grantee housing counseling agencies in good standing.
  
   Directs the NRC to establish a procedure by which the Program shall direct funds to such agencies.
  
  Directs the Secretary of the Treasury to: (1) revise HAMP guidelines to provide for monthly collection by the Secretary of the Treasury from each participating mortgage servicer and lender of comprehensive data on its activities; and (2) report such data to the Secretary of Housing and Urban Development (HUD), report it to Congress, and make it publicly available on the Treasury World Wide Web site.
feat_title: To ensure adequate funding for foreclosure mitigation counseling activities of the Neighborhood Reinvestment Corporation in connection with the Home Affordable Modification Program of the Secretary of the Treasury.