This bill establishes a program to provide mandatory forbearance for certain mortgage loans in areas affected by declared disasters. It defines a "disaster" broadly to include declarations by the President, State Governors, or Indian tribal governments, and applies to "covered mortgage loans," which encompass both federally backed single-family and multifamily mortgage loans. The legislation aims to offer financial relief to homeowners and property owners facing hardship due to such events. Under the bill's provisions, a borrower with a covered mortgage loan located in a disaster area may request a forbearance from their servicer by affirming financial hardship, irrespective of their loan's current delinquency status. Upon receiving such a request, the servicer is required to promptly grant an initial 180-day forbearance . Borrowers also have the option to request a single extension of up to an additional 180 days during the forbearance period. Crucially, during any granted forbearance, no new fees, penalties, or interest beyond the amounts scheduled or calculated as if payments were made on time will accrue on the borrower's account. This Act will apply to any disaster declared on or after January 1, 2025.