Helping HOMES Act of 2020

I 116TH CONGRESS 2D SESSION H. R. 8003 To require the provision of notice to homeowners regarding available housing relief to respond to the COVID–19 pandemic, and for other purposes. IN THE HOUSE OF REPRESENTATIVES AUGUST 11, 2020 Mr. EVANS (for himself and Mr. CLAY) introduced the following bill; which was referred to the Committee on Financial Services A BILL To require the provision of notice to homeowners regarding available housing relief to respond to the COVID–19 pandemic, and for other purposes. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Helping Home Owners 4 Maintain Economic Security Act of 2020’’ or the ‘‘Helping 5 HOMES Act of 2020’’. 6 SEC. 2. NOTICE TO HOMEOWNERS. 7 Section 4022 of the CARES Act (15 U.S.C. 9056) 8 is amended— 9 VerDate Sep 11 2014 02:10 Aug 29, 2020 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H8003.IH H8003 pamtmann on DSKBC07HB2PROD with BILLS 2 •HR 8003 IH (1) by striking ‘‘Federally backed mortgage 1 loan’ ’’ each place such term appears and inserting 2 ‘‘covered mortgage loan’’; 3 (2) in subsection (a)— 4 (A) by amending paragraph (2) to read as 5 follows: 6 ‘‘(2) COVERED MORTGAGE LOAN.—The term 7 ‘covered mortgage loan’ means any credit trans- 8 action that is secured by a mortgage, deed of trust, 9 or other equivalent consensual security interest on a 10 1- to 4-unit dwelling or on residential real property 11 that includes a 1- to 4-unit dwelling, except that it 12 shall not include a credit transaction under an open 13 end credit plan other than a reverse mortgage.’’; and 14 (B) by adding at the end the following new 15 paragraph: 16 ‘‘(3) COVERED PERIOD.—With respect to a 17 loan, the term ‘covered period’ means the period be- 18 ginning on the date of enactment of this Act and 19 ending 12 months after such date of enactment.’’; 20 and 21 (3) by adding at the end the following new sub- 22 section: 23 ‘‘(d) NOTICE TO HOMEOWNERS OF AVAILABLE RE- 24 LIEF.—During the period that begins 90 days after the 25 VerDate Sep 11 2014 02:10 Aug 29, 2020 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H8003.IH H8003 pamtmann on DSKBC07HB2PROD with BILLS 3 •HR 8003 IH date of the enactment of this subsection and ends upon 1 the expiration of the covered period, each servicer of a cov- 2 ered mortgage loan shall— 3 ‘‘(1) make available in a clear and conspicuous 4 manner on their web page accurate information for 5 borrowers, in both English and Spanish language, 6 regarding the availability of forbearance under sub- 7 section (b); 8 ‘‘(2) notify each borrower whose payments 9 under a covered mortgage loan are or become 31 10 days delinquent in any oral communication with or 11 to the borrower that the borrower may be eligible to 12 request forbearance as provided under subsection 13 (b), except that such notification shall not be re- 14 quired if the borrower already has obtained forbear- 15 ance under subsection (b); and 16 ‘‘(3) provide to any borrower whose payments 17 on the covered mortgage loan are or become 31 days 18 delinquent, a notification in writing, in both English 19 and Spanish language, not later than the 45th day 20 of the delinquency of the borrower, that— 21 ‘‘(A) states that the borrower may be eligi- 22 ble for forbearance under this section; 23 ‘‘(B) states that the borrower may seek 24 language assistance and general help through a 25 VerDate Sep 11 2014 02:10 Aug 29, 2020 Jkt 099200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H8003.IH H8003 pamtmann on DSKBC07HB2PROD with BILLS 4 •HR 8003 IH housing counseling agency certified by the De- 1 partment of Housing and Urban Development; 2 and 3 ‘‘(C) provides information on how to find 4 a counseling agency described in subparagraph 5 (B).’’. 6 Æ VerDate Sep 11 2014 02:10 Aug 29, 2020 Jkt 099200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6301 E:\BILLS\H8003.IH H8003 pamtmann on DSKBC07HB2PROD with BILLS