This bill amends the Housing and Urban Development Act of 1968 to significantly reform housing counseling and financial literacy programs. It mandates that the Secretary of Housing and Urban Development conduct performance reviews of all participating agencies, ensuring compliance with program requirements and considering the aggregate performance of counselors. Grant recipients for these programs must now be geographically diverse, serving both urban and rural areas. The legislation introduces a system for evaluating individual counselor competence, particularly for pre-purchase housing counseling. The Secretary may compare a counselor's performance against the default rates of counseled borrowers with specific mortgage types, such as FHA-insured or Native American housing loans. If a counselor is deemed incompetent, the Secretary can require continued education , retesting, or even permanently suspend their certification, provided it does not create a significant loss of service capacity. Furthermore, the bill allows the Secretary to deny renewal of assistance to organizations that fail to comply with program requirements, based on these performance reviews. Organizations will receive a 60-day notice and have the right to an informal conference to present mitigating factors. Finally, the bill requires that borrowers who are 30 days or more delinquent on certain covered mortgage loans, including those insured by FHA, VA, or USDA, be offered an opportunity to participate in foreclosure mitigation counseling , with costs for FHA-insured loans potentially covered by the Mutual Mortgage Insurance Fund.