Budget Amendment ID: FY2016-S3-442

ECO 442

Foreclosure Counseling

Mr. Eldridge, Mrs. L'Italien, Messrs. Lewis, Kennedy and Downing moved that the proposed new text be amended in section 2, in item 7006-0011, by striking the words “in an amount not to exceed $2,650,000 from the revenue received from administrative fees” and inserting in place thereof:- “in an amount not to exceed $3,450,000”

And further amended by inserting after the words “and that the grants shall be awarded through a competitive application process under criteria established by the division” the following:- “and provided further an amount not to exceed $800,000 shall be expended for a community based foreclosure counseling and advocacy program, administered by Citizens’ Housing and Planning Association, to ensure servicers give homeowners a fair review of their requests for modification in accordance with Consumer Financial Protection Bureau regulations, Massachusetts General Law Chapter 244, and the national state-federal mortgage settlement of 2012”

And further amended by striking the figure “$2,650,000” and inserting in place the following figure:- “$3,450,000”