Us Congress 2025-2026 Regular Session

Us Congress House Bill HB2928 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	I
2	2	119THCONGRESS
3	3	1
4	4	STSESSION H. R. 2928
5	5	To provide forbearance assistance during a major disaster or emergency,
6	6	and for other purposes.
7	7	IN THE HOUSE OF REPRESENTATIVES
8	8	APRIL17, 2025
9	9	Ms. C
10	10	HU(for herself, Mr. SHERMAN, Ms. SA´NCHEZ, Ms. FRIEDMAN, Mr.
11	11	F
12	12	IELDS, Mr. GOMEZ, Mr. CORREA, Ms. PRESSLEY, Ms. TOKUDA, Mr.
13	13	T
14	14	HANEDAR, Mr. HUFFMAN, Mr. NEGUSE, and Ms. GARCIAof Texas) in-
15	15	troduced the following bill; which was referred to the Committee on Fi-
16	16	nancial Services
17	17	A BILL
18	18	To provide forbearance assistance during a major disaster
19	19	or emergency, and for other purposes.
20	20	Be it enacted by the Senate and House of Representa-1
21	21	tives of the United States of America in Congress assembled, 2
22	22	SECTION 1. SHORT TITLE. 3
23	23	This Act may be cited as the ‘‘Mortgage Relief for 4
24	24	Disaster Survivors Act’’. 5
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27	27	•HR 2928 IH
28	28	SEC. 2. FORBEARANCE OF LOAN PAYMENTS FOR BOR-1
29	29	ROWERS OF PROPERTIES WITH FEDERALLY 2
30	30	BACKED LOANS. 3
31	31	(a) I
32	32	NGENERAL.—With respect to any disaster, a 4
33	33	borrower with a covered mortgage loan for a property lo-5
34	34	cated within the disaster area that is damaged or de-6
35	35	stroyed by such disaster may request a forbearance on 7
36	36	such loan during the covered period. 8
37	37	(b) R
38	38	EQUEST FORFORBEARANCE.—A borrower de-9
39	39	scribed in subsection (a) may request a forbearance by— 10
40	40	(1) submitting a written request for a forbear-11
41	41	ance to the borrower’s servicer; and 12
42	42	(2) providing documentation of verifiable dam-13
43	43	age or destruction to the property. 14
44	44	(c) G
45	45	RANT OFFORBEARANCE.— 15
46	46	(1) I
47	47	N GENERAL.—Upon receiving a request for 16
48	48	a forbearance from a borrower described in sub-17
49	49	section (a), the borrower’s servicer shall grant a for-18
50	50	bearance— 19
51	51	(A) for a duration of 180 days; and 20
52	52	(B) regardless of the delinquency status of 21
53	53	the covered mortgage loan. 22
54	54	(2) E
55	55	XTENSION OF FORBEARANCE .—At any 23
56	56	time during the forbearance, a borrower may request 24
57	57	an extension, of not more than 180 days, of the du-25
58	58	ration described in paragraph (1). 26
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61	61	•HR 2928 IH
62	62	(d) RIGHTTODISCONTINUE.—A borrower described 1
63	63	in subsection (a) may request to discontinue the forbear-2
64	64	ance at any time. 3
65	65	(e) A
66	66	CCRUAL.—During any forbearance granted 4
67	67	under subsection (c), no fees, penalties, or interest (be-5
68	68	yond the amounts scheduled or calculated as if the bor-6
69	69	rower made all contractual payments on time and in full 7
70	70	under the terms of the mortgage contract) shall accrue 8
71	71	on the borrower’s account. 9
72	72	SEC. 3. DEFINITIONS. 10
73	73	In this Act: 11
74	74	(1) C
75	75	OVERED MORTGAGE LOAN .—The ‘‘covered 12
76	76	mortgage loan’’ means— 13
77	77	(A) a Federally backed mortgage loan; or 14
78	78	(B) a Federally backed multifamily mort-15
79	79	gage loan. 16
80	80	(2) C
81	81	OVERED PERIOD.—The term ‘‘covered pe-17
82	82	riod’’ means the period beginning on the date of the 18
83	83	declaration of a disaster and ending on the date that 19
84	84	such declaration ends. 20
85	85	(3) D
86	86	ISASTER.—The term ‘‘disaster’’ means 21
87	87	any major disaster or emergency declared by the 22
88	88	President under the Robert T. Stafford Disaster Re-23
89	89	lief and Emergency Assistance Act (42 U.S.C. 4121 24
90	90	et seq.). 25
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93	93	•HR 2928 IH
94	94	(4) DISASTER AREA.—The term ‘‘disaster area’’ 1
95	95	means, with respect to a disaster, any area that is 2
96	96	subject to the declaration of such disaster. 3
97	97	(5) F
98	98	EDERALLY BACKED MORTGAGE LOAN .— 4
99	99	The term ‘‘Federally backed mortgage loan’’ in-5
100	100	cludes any loan (other than temporary financing, 6
101	101	such as a construction loan) that is— 7
102	102	(A) secured by a first or subordinate lien 8
103	103	on residential real property (including indi-9
104	104	vidual units of condominiums and cooperatives) 10
105	105	designed principally for the occupancy of from 11
106	106	1 to 4 families, including any such secured 12
107	107	loan, the proceeds of which are used to prepay 13
108	108	or pay off an existing loan secured by the same 14
109	109	property; and 15
110	110	(B) purchased or securitized by the Fed-16
111	111	eral Home Loan Mortgage Corporation or the 17
112	112	Federal National Mortgage Association. 18
113	113	(6) F
114	114	EDERALLY BACKED MULTIFAMILY MORT -19
115	115	GAGE LOAN.—The term ‘‘Federally backed multi-20
116	116	family mortgage loan’’ includes any loan (other than 21
117	117	temporary financing, such as a construction loan) 22
118	118	that is— 23
119	119	(A) secured by a first or subordinate lien 24
120	120	on residential multifamily real property de-25
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123	123	•HR 2928 IH
124	124	signed principally for the occupancy of 5 or 1
125	125	more families, including any such secured loan, 2
126	126	the proceeds of which are used to prepay or pay 3
127	127	off an existing loan secured by the same prop-4
128	128	erty; and 5
129	129	(B) purchased or securitized by the Fed-6
130	130	eral Home Loan Mortgage Corporation or the 7
131	131	Federal National Mortgage Association. 8
132	132	Æ
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