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116-hr-6794116th Congress

Promoting Access to Credit for Homebuyers Act of 2020

Sponsored By: Representative Vargas, Juan [D-CA-52]

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Summary

Promoting Access to Credit for Homebuyers Act of 2020 This bill requires Freddie Mac, Fannie Mae, and the Department of Housing and Urban Development to purchase or insure single-family mortgages originated on or after February 1, 2020, on the same terms as they otherwise would despite a borrower entering into, or inquiring about, forbearance due to a COVID-19 (i.e., coronavirus disease 2019) related hardship. This requirement begins 5 days after enactment of this bill and ends 60 days after the end of the period of time a borrower may request a COVID-19 related forbearance. The Federal Housing Finance Agency may not increase fees or otherwise restrict access to credit during the COVID-19 emergency without congressional notice. The Government Accountability Office must report on COVID-19-related assistance to consumers by Freddie Mac, Fannie Mae, and the Federal Housing Administration mortgage insurance programs.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Vargas, Juan [D-CA-52]

CA • D

Cosponsors

  • Rep. Waters, Maxine [D-CA-43]

    CA • D

    Sponsored 5/8/2020

  • Del. Norton, Eleanor Holmes [D-DC-At Large]

    DC • D

    Sponsored 5/19/2020

  • Rep. Hayes, Jahana [D-CT-5]

    CT • D

    Sponsored 6/18/2020

  • Rep. Perlmutter, Ed [D-CO-7]

    CO • D

    Sponsored 6/18/2020

  • Rep. Foster, Bill [D-IL-11]

    IL • D

    Sponsored 6/18/2020

  • Rep. Rouda, Harley [D-CA-48]

    CA • D

    Sponsored 6/18/2020

  • Rep. Himes, James A. [D-CT-4]

    CT • D

    Sponsored 7/1/2020

  • Rep. Casten, Sean [D-IL-6]

    IL • D

    Sponsored 7/1/2020

  • Rep. Dean, Madeleine [D-PA-4]

    PA • D

    Sponsored 7/1/2020

  • Rep. Meeks, Gregory W. [D-NY-5]

    NY • D

    Sponsored 7/1/2020

  • Rep. Aguilar, Pete [D-CA-33]

    CA • D

    Sponsored 7/1/2020

  • Rep. Green, Al [D-TX-9]

    TX • D

    Sponsored 7/1/2020

  • Rep. Velázquez, Nydia M. [D-NY-7]

    NY • D

    Sponsored 7/1/2020

  • Sen. Blunt Rochester, Lisa [D-DE]

    DE • D

    Sponsored 7/1/2020

  • Rep. Cleaver, Emanuel [D-MO-5]

    MO • D

    Sponsored 7/1/2020

  • Rep. Peters, Scott H. [D-CA-50]

    CA • D

    Sponsored 9/14/2020

  • Sen. Gallego, Ruben [D-AZ]

    AZ • D

    Sponsored 9/14/2020

  • Rep. Barragán, Nanette Diaz [D-CA-44]

    CA • D

    Sponsored 9/14/2020

  • Rep. Lee, Barbara [D-CA-12]

    CA • D

    Sponsored 9/16/2020

  • Rep. Lowenthal, Alan S. [D-CA-47]

    CA • D

    Sponsored 9/22/2020

  • Rep. Khanna, Ro [D-CA-17]

    CA • D

    Sponsored 9/23/2020

  • Rep. Tlaib, Rashida [D-MI-12]

    MI • D

    Sponsored 9/24/2020

  • Rep. Evans, Dwight [D-PA-3]

    PA • D

    Sponsored 9/30/2020

Roll Call Votes

No roll call votes available for this bill.

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