Bill
Bill > HR6741
US HR6741
To amend the CARES Act to provide forbearance and foreclosure moratoriums for all mortgage loans, and for other purposes.
summary
Introduced
05/08/2020
05/08/2020
In Committee
05/08/2020
05/08/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
COVID–19 Mortgage Relief Act Official Titles Official Titles - House of Representatives Official Title as Introduced To amend the CARES Act to provide forbearance and foreclosure moratoriums for all mortgage loans, and for other purposes.
AI Summary
This bill amends the CARES Act to provide forbearance and foreclosure moratoriums for all mortgage loans, not just Federally backed mortgage loans. It expands the definition of "covered mortgage loan" to include any 1- to 4-unit residential real estate loan. The bill also provides automatic 60-day forbearance periods for delinquent borrowers, with the ability to extend the forbearance for up to 360 days. Additionally, it imposes a 6-month moratorium on foreclosures and repossessions of personal property used as a dwelling. The bill makes several other changes, including reforms to mortgage forbearance, requirements for servicers during forbearance, and protections for renters during forbearance. It also provides liquidity for mortgage servicers and establishes a credit facility for residential rental property owners.
Committee Categories
Business and Industry
Sponsors (38)
Lacy Clay (D)*,
Anthony Brown (D),
Tony Cárdenas (D),
André Carson (D),
Judy Chu (D),
Yvette Clarke (D),
Steve Cohen (D),
Danny Davis (D),
Peter DeFazio (D),
Mark DeSaulnier (D),
Adriano Espaillat (D),
Marcia Fudge (D),
Tulsi Gabbard (D),
Chuy García (D),
Jimmy Gomez (D),
Al Green (D),
Raúl Grijalva (D),
Alcee Hastings (D),
Jahana Hayes (D),
Brian Higgins (D),
Ro Khanna (D),
Derek Kilmer (D),
Al Lawson (D),
Barbara Lee (D),
Stephen Lynch (D),
Sean Maloney (D),
Gregory Meeks (D),
Eleanor Holmes Norton (D),
Kathleen Rice (D),
Lucille Roybal-Allard (D),
Jan Schakowsky (D),
Brad Sherman (D),
Albio Sires (D),
Adam Smith (D),
Darren Soto (D),
Bennie Thompson (D),
Maxine Waters (D),
Bonnie Watson Coleman (D),
Last Action
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. (on 05/08/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/6741/all-info |
| BillText | https://www.congress.gov/116/bills/hr6741/BILLS-116hr6741ih.pdf |
| Bill | https://www.congress.gov/116/bills/hr6741/BILLS-116hr6741ih.pdf.pdf |
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