Page:United States Statutes at Large Volume 123.djvu/1004

 123STA T .984PUBLIC LA W 111 – 8 —M A R .11, 2 0 09 adviceof a l lli k el yr e st r u cturi ng and refinancing strategies ort h ea p proval of a w ork - out strategy b y all interested parties .(4)NRCm ay provide up to 15 percent of the total funds under this paragraph to its own charter members with e x pertise in foreclosure prevention counseling , sub j ect to a certification by the NRC that the procedures for selection do not consist of any procedures or activities that could be construed as an unacceptable conflict of interest or have the appearance of impropriety. (5) HUD -approved counseling entities and S tate Housing F inance A gencies receiving funds under this paragraph shall have demonstrated experience in successfully working with financial institutions as well as borrowers facing default, delin- q uency and foreclosure as well as documented counseling capacity, outreach capacity, past successful performance and positive outcomes with documented counseling plans (including post mortgage foreclosure mitigation counseling), loan workout agreements and loan modification agreements. NRC may use other criteria to demonstrate capacity in underserved areas. ( 6 ) O f the total amount made available under this para- graph, up to $ 5, 0 00,000 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 partners, except that private financial institutions that participate in NRC training shall pay market rates for such training. ( 7 ) Of the total amount made available under this para- graph, up to 4 percent may be used for associated administra- tive expenses for the NRC to carry out activities provided under this section. ( 8 ) M ortgage foreclosure mitigation assistance grants may include a budget for outreach and advertising, and training, as determined by the NRC. ( 9 ) T he NRC shall report bi-annually to the House and Senate Committees on Appropriations as well as the Senate B anking Committee and House Financial Services Committee on its efforts to mitigate mortgage default. Such reports shall identify successful strategies and methods for preserving home- ownership and the long-term affordability of at-risk mortgages and shall include recommended efforts that will or likely can assist in the success of this program as well as an analysis of any policy and procedures that failed to result in successful mortgage foreclosure mitigation. The report shall include an analysis of the details and use of any post mitigation counseling of assisted borrowers designed to ensure the continued long- term affordability of the mortgages which were the subject of the mortgage foreclosure mitigation assistance. U NITED ST A TE SI NTE R A G EN CY C OU NCI L ON HO M ELESSNESS O P ERATING E X PENSES For necessary expenses (including payment of salaries, author- i z ed travel, hire of passenger motor vehicles, the rental of conference rooms, and the employment of experts and consultants under section 3 109 of title 5, United States Code) of the United States Interagency Council on Homelessness in carrying out the functions pursuant to title II of the Mc K inney- V ento Homeless Assistance Act, as Reports.D e adlin es. C erti f i c ation.