3.0.0 4260 2023-01-11T13:45:37Z 2023-01-11T13:45:37Z Senate S 2020-07-22 116 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2020-07-22T15:55:53Z Promoting Access to Credit for Homebuyers Act of 2020 116 6794 HR 2020-05-08 Referred to the House Committee on Financial Services. Related bill CRS 2020-07-22 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2020-07-22 Introduced in Senate IntroReferral 10000 9 Library of Congress M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ N Housing and Community Development Cardiovascular and respiratory health Congressional oversight Emergency medical services and trauma care Finance and Financial Sector Financial literacy Foreign language and bilingual programs Government corporations and government-sponsored enterprises Government information and archives Government lending and loan guarantees Government studies and investigations Housing discrimination Housing finance and home ownership Infectious and parasitic diseases User charges and fees Housing and Community Development 00 2020-07-22 Introduced in Senate 2021-02-18T17:15:24Z Promoting Access to Credit for Homebuyers Act of 2020

This bill requires Freddie Mac, Fannie Mae, and the Department of Housing and Urban Development to purchase or insure single-family mortgages originated on or after February 1, 2020, on the same terms as they otherwise would despite a borrower entering into, or inquiring about, forbearance due to a COVID-19 (i.e., coronavirus disease 2019) related hardship. This requirement begins 5 days after enactment of this bill and ends 60 days after the end of the period of time a borrower may request a COVID-19 related forbearance.

The Federal Housing Finance Agency may not increase fees or otherwise restrict access to credit during the COVID-19 emergency without congressional notice.

The Government Accountability Office must report on COVID-19-related assistance to consumers by Freddie Mac, Fannie Mae, and the Federal Housing Administration mortgage insurance programs.

]]> Promoting Access to Credit for Homebuyers Act of 2020 Display Title Promoting Access to Credit for Homebuyers Act of 2020 Short Title(s) as Introduced Promoting Access to Credit for Homebuyers Act of 2020 Introduced in Senate IS Official Title as Introduced 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. Introduced in Senate IS Introduced in Senate 2020-07-22T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s4260is/xml/BILLS-116s4260is.xml 2020-07-22 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.