To require the provision of notice to homeowners regarding available housing relief to respond to the COVID-19 pandemic, and for other purposes.
Helping Owners Maintain Economic Security Act of 2020 or the HOMES Act of 2020
This bill requires servicers of federally-backed mortgage loans to notify borrowers of their eligibility for loan forbearance under existing COVID-19 (i.e., coronavirus disease 2019) economic aid programs. Servicers must provide notice not later than 30 days after enactment. Servicers are exempted from providing notice to borrowers who have previously requested forbearance.
Federal housing agencies must make available to servicers model notices no later than 7 days after enactment.
Introduced in House
Introduced in House
Referred to the Committee on Financial Services, and in addition to the Committee on Veterans' Affairs, 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.
Referred to the Committee on Financial Services, and in addition to the Committee on Veterans' Affairs, 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.
Referred to the Subcommittee on Economic Opportunity.
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