HR 6794
Promoting Access to Credit for Homebuyers Act of 2020
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Bill overview
The Promoting Access to Credit for Homebuyers Act of 2020 aims to help people struggling with financial hardship due to the COVID-19 pandemic maintain their mortgages. It instructs Fannie Mae, Freddie Mac, and the Department of Housing and Urban Development to continue backing single-family mortgages for borrowers experiencing forbearance, and it extends similar protections to the Federal Housing Administration. The bill also requires regular reporting on the impact of the pandemic on mortgage programs and mandates that agencies provide advance notice of any changes to credit access policies.
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Primary sponsor
Cosponsors
Alan S. Lowenthal
Barbara Lee
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