SEC. 4022. FORECLOSURE MORATORIUM AND CONSUMER RIGHT TO REQUEST FORBEARANCE.

  1. DEFINITIONS.-ln this section:
    1. Covrn-19 EMERGENCY.-The term "COVID-19 emer­ gency" means the national emergency concerning the novel coronavirus disease (COVID-19) outbreak declared by the President on March 13, 2020 under the National Emergencies Act (50 U.S.C. 1601 et seq.).
    2. FEDERALLY BACKED MORTGAGE LOAN.-The term "Feder­ ally  backed  mortgage  loan"  includes  any  loan  which  is  secured by   a   first   or   subordinate   lien   on   residential    real    property (in cluding individual units of condominiums and cooperatives) designed principally for the occupancy of  from  1-  to  4-  families that is-
      1. insured by the Federal Housing Administration

under title II of the  National  Housing  Act (12  U.S.C.  1707 et seq.);

  1. insured under section 255 of the National  Housing Act (12 U.S.C. l 715z-20);
  2. guaranteed under section 184 or 184A of  the Housing and Community Development Act of 1992  (12 U.S.C. 1715z-13a, l 715z-13b);
  3. guaranteed or insured by the Department of Vet­ erans Affairs;
  4. guaranteed or insured by the Department of Agri­ culture;
  5. made by the Department of Agriculture; or
  6. purchased or securitized by the Federal Home Loan Mortgage Corporation or the Federal National Mortgage Association.
  1. F0RBEARANCE.-
    1. IN GE NERAL.- During the covered period, a borrower with a Federally backed mortgage loan experiencing a financial hardship due, directly or indirectly, to  the  COVID-19  emer­ gency may request forbearance on the Federally  backed  mort­ gage loan, regardless of delinquency status, by-
      1. submitting a request to the borrower's servicer; and
  1. affirming that the borrower is experiencing a finan­cial hardship during the COVID-19 emergency.
  1. DURATION OF FORBEARANCE.-Upon a request by a bor­ rower for forbearance under  paragraph  (1),  such  forbearance shall  be  granted  for  up  t o  180  days,  and  shall   be  extended for  an  additional  period  of  up   to   180   days  at   the   request of the borrower, provided that,  at the borrower's  request,  either the initial or extended period of forbearance may be shortened.
  2. ACCRUAL OF INTEREST OR FEES.-During a period of forbearance  described  in  this  subsection,   no   fees,   penalties, or  interest  beyond   the   amounts   scheduled   or   calculated   as if  the  borrower  made   all  contractual   payments   on  time  and in full under the  terms  of  the  mortgage  contra ct,  shall  accrue on the borrower's account.
  1. REQUIREMENTS FOR SERVICERS.-
    1. IN GENERAL.-Upon receiving a request for forbearance from a borrower under subsection  (b), the  servicer shall with no additional documentation required other than the borrower's attestation to a financial hardship caused by the COVID-19

 

emergency and with no  fees,  penalties,  or  interest  (beyond the amounts scheduled or calculated as if the  borrower  made all contractual payments on  time  and in full  under  the  terms of the mortgage contract) charged to the borrower in connection with the forbearance, provide the forbearance for up to  180 days, which may be extended  for  an  additional  period  of  up to 180 days  at  the  request  of  the  borrower,  provided  that, the borrower's request for an extension is made during the covered period, and, at the borrower's request, either the initial or extended period of forbearance may be shortened.

  1. FORECLOSURE MORATORIUM.-Except with respect to a vacant or abandoned property, a servicer of a Federally backed mortgage loan may not initiate any judicial or non-judicial foreclosure process, move for  a  foreclosure  judgment  or  order  of sale, or execute a foreclosure-related eviction  or  foreclosure sale for not less  than  the  60-day  period  beginning  on  March  18, 2020.

SEC. 4023. FORBEARANCE OF RESIDENTIAL MORTGAGE LOAN PAY­ MENTS FOR  MULTIFAMILY  PROPERTIES  WITH  FEDER­ ALLY BACKED LOANS.

  1. IN GENERAL.-During the covered period, a multifamily borrower with a Federally backed multifamily mortgage loan experi­ encing a financial hardship  due,  directly  or  indirectly,  to  the COVID- 19 emergency may request a  forbearance  under  the  terms  set forth in this section.
  2. REQUEST FOR RELIEF.-A multifamily borrower with a Fed­ erally backed multifamily mortgage loan that was current on its payments as of February 1, 2020, may submit an oral or written request for forbearance under subsection (a) to the borrower's servicer affirming  that  the  multifamily  borrower  is  experiencing a financial hardship during the COVID-19 emergency.
  3. FORBEARANCE PERIOD.-
    1. IN GENE RAL.- Upon receipt of an oral or written request for forbearance from a multifamily borrower, a servicer shall­
      1. document the financial hardship;
      2. provide the forbearance for up to 30 days; and
      3. extend the forbearance for up to 2 additional 30  day periods upon the request of  the  borrower  provided that, the borrower's request for an extension is made during the covered period,  and,  at  least  15  days  prior  to  the end of the forbearance period described under subpara­ graph (B).
    2. RIGHT TO DISCONTINUE.-A multifamily borrower shall have the option to discontinue the forbearance at any time.
  4. RENTER PROTECTIONS DURING FORBEARANCE PERIOD.-A multifamily borrower that receives a forbearance under this  section may not, for the duration of the forbearance-
    1. evict or initiate the eviction of a tenant from a dwelling

unit located in or on the applicable property solely for non­ payment of rent or other fees or charges; or

  1. charge  any  late  fees,  penalties,  or  other  charges  to  a tenant described in paragraph (1) for late payment of rent .
  1. NOTICE.-A multifamily borrower that receives a forbear­ ance under tp.is section-
    1. )  may  not   require  a  tenant  to  vacate  a  dwelling unit located in or on the applicable property  before  the  date that