HOMES Act of 2020
Summary
Official Summary
Helping Owners Maintain Economic Security Act of 2020 or the HOMES Act of 2020
This bill requires servicers of federally-backed mortgage loans to notify borrowers of their eligibility for loan forbearance under existing COVID-19 (i.e., coronavirus disease 2019) economic aid programs. Servicers must provide notice not later than 30 days after enactment. Servicers are exempted from providing notice to borrowers who have previously requested forbearance.
Federal housing agencies must make available to servicers model notices no later than 7 days after enactment.
Bill texts
All available records shown.
Timeline
Referred to the Committee on Financial Services, and in addition to the Committee on Veterans' Affairs, 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.
House of Representatives
Introduced in House
Referred to the Subcommittee on Economic Opportunity.
House of Representatives
All available records shown.