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COVID–19 Mortgage Relief Act

USA116th CongressHR-6741| House 
| Updated: 5/8/2020
Wm. Lacy Clay

Wm. Lacy Clay

Democratic Representative

Missouri

Cosponsors (37)
Al Lawson (Democratic)Barbara Lee (Democratic)Raúl M. Grijalva (Democratic)Brian Higgins (Democratic)Kathleen M. Rice (Democratic)Darren Soto (Democratic)Derek Kilmer (Democratic)Steve Cohen (Democratic)Tony Cárdenas (Democratic)Anthony G. Brown (Democratic)Adriano Espaillat (Democratic)Danny K. Davis (Democratic)Lucille Roybal-Allard (Democratic)Peter A. DeFazio (Democratic)Ro Khanna (Democratic)Sean Patrick Maloney (Democratic)Al Green (Democratic)André Carson (Democratic)Stephen F. Lynch (Democratic)Mark DeSaulnier (Democratic)Gregory W. Meeks (Democratic)Jahana Hayes (Democratic)Marcia L. Fudge (Democratic)Eleanor Holmes Norton (Democratic)Brad Sherman (Democratic)Bonnie Watson Coleman (Democratic)Tulsi Gabbard (Democratic)Janice D. Schakowsky (Democratic)Maxine Waters (Democratic)Adam Smith (Democratic)Yvette D. Clarke (Democratic)Albio Sires (Democratic)Bennie G. Thompson (Democratic)Jesús G. "Chuy" García (Democratic)Jimmy Gomez (Democratic)Alcee L. Hastings (Democratic)Judy Chu (Democratic)

Financial Services Committee, Judiciary Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
COVID-19 Mortgage Relief Act This bill extends protections for renters and mortgage borrowers provided in response to the COVID-19 (i.e., coronavirus disease 2019) emergency, revises bankruptcy provisions, and expands COVID-19 aid programs to include mortgage servicers. Mortgage forbearance may be extended to borrowers for up to 12 months. Currently, borrowers may receive 180 days of forbearance, with an extension of up to an additional 180 days. The bill also expands the forbearance provisions to apply to nonfederally backed mortgages. The bill expands the current moratorium on evictions of renters from property receiving a forbearance to generally protect all such renters, not only renters in federally assisted housing or property that has a federally backed mortgage. The current moratorium on mortgage foreclosures is extended from 60 days beginning on March 18, 2020, to 6 months after enactment of this bill. The bill also expands this moratorium to include nonfederally backed mortgages. Additionally, the bill generally revises bankruptcy provisions. COVID-19 aid is excluded from property subject to bankruptcy proceedings and the homestead exemption available to individual debtors is increased, among other protections. Existing COVID-19 economic aid programs are expanded to include mortgage servicers. The Department of the Treasury must allow mortgage servicers to participate in these programs to receive loans, loan guarantees, and other investments currently offered to eligible businesses, states, and municipalities.
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Timeline
May 8, 2020
Introduced in House
May 8, 2020
Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
  • May 8, 2020
    Introduced in House


  • May 8, 2020
    Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Housing and Community Development

Related Bills

  • HR 116-6800: The Heroes Act
  • HR 116-6835: To require residential mortgage servicers receiving certain emergency relief under the CARES Act to provide reports on loan-level data, and for other purposes.
Administrative law and regulatory proceduresBanking and financial institutions regulationBankruptcyCardiovascular and respiratory healthCongressional oversightConsumer creditConsumer Financial Protection BureauEmergency medical services and trauma careFederal Reserve SystemFinancial services and investmentsGovernment information and archivesGovernment lending and loan guaranteesHousing finance and home ownershipInfectious and parasitic diseasesInterest, dividends, interest ratesLandlord and tenantSecurities

COVID–19 Mortgage Relief Act

USA116th CongressHR-6741| House 
| Updated: 5/8/2020
COVID-19 Mortgage Relief Act This bill extends protections for renters and mortgage borrowers provided in response to the COVID-19 (i.e., coronavirus disease 2019) emergency, revises bankruptcy provisions, and expands COVID-19 aid programs to include mortgage servicers. Mortgage forbearance may be extended to borrowers for up to 12 months. Currently, borrowers may receive 180 days of forbearance, with an extension of up to an additional 180 days. The bill also expands the forbearance provisions to apply to nonfederally backed mortgages. The bill expands the current moratorium on evictions of renters from property receiving a forbearance to generally protect all such renters, not only renters in federally assisted housing or property that has a federally backed mortgage. The current moratorium on mortgage foreclosures is extended from 60 days beginning on March 18, 2020, to 6 months after enactment of this bill. The bill also expands this moratorium to include nonfederally backed mortgages. Additionally, the bill generally revises bankruptcy provisions. COVID-19 aid is excluded from property subject to bankruptcy proceedings and the homestead exemption available to individual debtors is increased, among other protections. Existing COVID-19 economic aid programs are expanded to include mortgage servicers. The Department of the Treasury must allow mortgage servicers to participate in these programs to receive loans, loan guarantees, and other investments currently offered to eligible businesses, states, and municipalities.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
May 8, 2020
Introduced in House
May 8, 2020
Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
  • May 8, 2020
    Introduced in House


  • May 8, 2020
    Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Wm. Lacy Clay

Wm. Lacy Clay

Democratic Representative

Missouri

Cosponsors (37)
Al Lawson (Democratic)Barbara Lee (Democratic)Raúl M. Grijalva (Democratic)Brian Higgins (Democratic)Kathleen M. Rice (Democratic)Darren Soto (Democratic)Derek Kilmer (Democratic)Steve Cohen (Democratic)Tony Cárdenas (Democratic)Anthony G. Brown (Democratic)Adriano Espaillat (Democratic)Danny K. Davis (Democratic)Lucille Roybal-Allard (Democratic)Peter A. DeFazio (Democratic)Ro Khanna (Democratic)Sean Patrick Maloney (Democratic)Al Green (Democratic)André Carson (Democratic)Stephen F. Lynch (Democratic)Mark DeSaulnier (Democratic)Gregory W. Meeks (Democratic)Jahana Hayes (Democratic)Marcia L. Fudge (Democratic)Eleanor Holmes Norton (Democratic)Brad Sherman (Democratic)Bonnie Watson Coleman (Democratic)Tulsi Gabbard (Democratic)Janice D. Schakowsky (Democratic)Maxine Waters (Democratic)Adam Smith (Democratic)Yvette D. Clarke (Democratic)Albio Sires (Democratic)Bennie G. Thompson (Democratic)Jesús G. "Chuy" García (Democratic)Jimmy Gomez (Democratic)Alcee L. Hastings (Democratic)Judy Chu (Democratic)

Financial Services Committee, Judiciary Committee

Housing and Community Development

Related Bills

  • HR 116-6800: The Heroes Act
  • HR 116-6835: To require residential mortgage servicers receiving certain emergency relief under the CARES Act to provide reports on loan-level data, and for other purposes.
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Administrative law and regulatory proceduresBanking and financial institutions regulationBankruptcyCardiovascular and respiratory healthCongressional oversightConsumer creditConsumer Financial Protection BureauEmergency medical services and trauma careFederal Reserve SystemFinancial services and investmentsGovernment information and archivesGovernment lending and loan guaranteesHousing finance and home ownershipInfectious and parasitic diseasesInterest, dividends, interest ratesLandlord and tenantSecurities