Bill
Bill > HR6835
US HR6835
To require residential mortgage servicers receiving certain emergency relief under the CARES Act to provide reports on loan-level data, and for other purposes.
summary
Introduced
05/12/2020
05/12/2020
In Committee
05/12/2020
05/12/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To require residential mortgage servicers receiving certain emergency relief under the CARES Act to provide reports on loan-level data, and for other purposes. This bill requires residential mortgage servicers receiving COVID-19 (i.e., coronavirus disease 2019) economic aid to report monthly on all serviced residential mortgage loans, including information on loan performance and forbearances.
AI Summary
This bill requires residential mortgage servicers receiving COVID-19 (coronavirus disease 2019) economic aid under the CARES Act to report monthly on all serviced residential mortgage loans, including information on loan performance and forbearances. The bill specifies the loan-level identifying information and performance data that must be reported, such as borrower demographics, loan origination details, current loan status, and loss mitigation efforts. The Bureau of Consumer Financial Protection is tasked with prescribing the format and method of data submission, and with making aggregate data publicly available by servicer and geographic area, while protecting personally identifiable information. This reporting requirement applies for the duration of the servicer's receipt of CARES Act aid and for two years thereafter.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Referred to the House Committee on Financial Services. (on 05/12/2020)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/6835/all-info |
| BillText | https://www.congress.gov/116/bills/hr6835/BILLS-116hr6835ih.pdf |
| Bill | https://www.congress.gov/116/bills/hr6835/BILLS-116hr6835ih.pdf.pdf |
Loading...