summary
Introduced
07/22/2020
07/22/2020
In Committee
07/22/2020
07/22/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A BILL To promote access to mortgage credit during the COVID 19 pandemic by preventing restrictions on providing Federal backing for single-family mortgage loans in forbearance, and for other purposes. 1
AI Summary
This bill aims to promote access to mortgage credit during the COVID-19 pandemic by preventing restrictions on providing federal backing for single-family mortgage loans in forbearance. It prohibits the government-sponsored enterprises Fannie Mae and Freddie Mac from refusing to purchase mortgages solely due to the borrower being in forbearance, and prevents the Department of Housing and Urban Development from denying mortgage insurance or otherwise altering pricing for such mortgages. The bill also requires quarterly reporting on the impact of the pandemic on the enterprises and Federal Housing Administration mortgage insurance programs, including data on loan purchases, forbearances, loan modifications, and assistance provided to underserved communities.
Committee Categories
Housing and Urban Affairs
Sponsors (1)
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 07/22/2020)
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/senate-bill/4260/all-info |
| BillText | https://www.congress.gov/116/bills/s4260/BILLS-116s4260is.pdf |
| Bill | https://www.congress.gov/116/bills/s4260/BILLS-116s4260is.pdf.pdf |
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