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To amend the Emergency Economic Stabilization Act of 2008 to terminate the authority of the Secretary of the Treasury to provide new assistance under the Home Affordable Modification Program, while preserving assistance to homeowners who were already extended an offer to participate in the Program, either on a trial or permanent basis.

To establish standards for covered bond programs and a covered bond regulatory oversight program, and for other purposes.

To amend the Servicemembers Civil Relief Act to enhance protections for members of the uniformed services relating to mortgages, mortgage foreclosure, and eviction, and for other purposes.

To require certain mortgagees to evaluate loans for modifications, to establish a grant program for State and local government mediation programs, and for other purposes.

Rescinds and cancels permanently all unobligated balances remaining available, as of the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act, to the Secretary of Housing and Urban Development (HUD) for assistance to states and local governments for the redevelopment of abandoned and foreclosed homes and residential properties.

To amend the Emergency Economic Stabilization Act of 2008 to terminate the authority of the Secretary of the Treasury to provide new assistance under the Home Affordable Modification Program, while preserving assistance to homeowners who were already extended an offer to participate in the Program, either on a trial or permanent basis.