HR 7809
HOPE Act of 2020
Take action
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The HOPE Act of 2020 establishes a Treasury Department facility, the HOPE Preferred Equity Facility, to provide financial assistance to commercial mortgage borrowers impacted by COVID-19. This facility will guarantee purchases of preferred equity instruments by financial institutions, offering loans to borrowers whose revenue has decreased by at least 25% compared to the previous year. The program includes eligibility requirements, specific terms for the preferred equity instruments, and provisions for interest rate increases if borrowers fail to meet certain conditions. It also outlines rules for servicing fees, collateral requirements, and public reporting.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Van Taylor
Cosponsors
Al, Jr. Lawson
Alcee L. Hastings
Alexander X. Mooney
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.