,i #aacth ,,congress #ast ,session ,h4 ,r4 #eed ,,in ,,the ,,house ,,of ,,representatives ,february #f1 #bjac ,mr4 ,jeffries introduced the following bill2 which was referred to the ,committee on ,financial ,services ,a ,,bill ,to provide relief to homeowners affected by ,superstorm ,sandy who have mortgages insured by the ,,fha1 or owned or guaranteed by ,fannie ,mae or ,freddie ,mac1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,superstorm ,sandy ,mortgage ,relief ,act of #bjac4 #b4 ,requirement to offer forbearance to affected homeowners 7a7 ,requirement ,the ,secretary of ,housing and ,urban ,development and the ,director of the ,federal ,housing ,finance ,agency shall each carry out a program under this section to notify mortgagors under covered mortgages of the availability of forbearance under the program and to offer and provide such relief upon a request by an eligible homeowner4 7b7 ,covered mortgage ,for purposes of this section1 the term covered mortgage means a mortgage-- 7#a7 that is secured by a one- to four-family dwelling that-- 7,a7 is the principal residence of the mortgagor2 and 7,b7 is located within an area for which a major disaster was declared pursuant to section #dja of the ,robert ,t4 ,stafford ,disaster ,relief and ,emergency ,assistance ,act 7#db ,u4,s4,c4 #eagj7 as a result of ,hurricane ,sandy2 and 7#b7 that is-- 7,a7 insured under title ,,ii of the ,national ,housing ,act 7#ab ,u4,s4,c4 #agjg et seq472 or 7,b7 owned or guaranteed by the ,federal ,national ,mortgage ,association or the ,federal ,home ,loan ,mortgage ,corporation4 7c7 ,eligible homeowner ,for purposes of this section1 the term eligible homeowner means a mortgagor under a covered mortgage whose-- 7#a7 household experienced a disruption in income as a result of ,hurricane ,sandy1 as determined in accordance with guidelines issued pursuant to subsection 7k72 or 7#b7 residence that secures the mortgage was damaged as a result of ,hurricane ,sandy1 as determined in accordance with guidelines issued pursuant to subsection 7k74 7d7 ,notification ,under the program under this section1 the applicable agency heads shall require each mortgagee of a covered mortgage to notify the mortgagor under the mortgage in writing1 not later than the expiration of the #fj-;day period beginning on the date of the enactment of this ,act and in such form as the applicable agency heads shall require pursuant to guidelines issued under subsection 7k7-- 7#a7 that the mortgage is a covered mortgage that may be eligible for forbearance relief under the program under this section2 7#b7 of the requirements for eligible homeowners to qualify for such relief2 7#c7 of the terms of such relief2 and 7#d7 how to request such relief4 7e7 ,request for relief ,the applicable agency heads shall1 by guidelines issued under subsection 7k71 provide for mortgagors under covered mortgages to submit requests1 during the #f-month period beginning on the date of the enactment of this ,act1 to the mortgagees of such mortgages for forbearance relief under the program under this section4 7f7 ,determination ,upon receipt of a request made by a mortgagor under a covered mortgage for forbearance relief under the program under this section that is submitted during the period referred to in subsection 7e71 the mortgagee shall promptly determine whether the mortgagor is an eligible homeowner and immediately notify the mortgagor in writing of such determination4 7g7 ,requirement ,to offer forbearance ,if1 pursuant to a request for relief submitted pursuant to subsection 7e7 with respect to a covered mortgage1 the mortgagee for the mortgage determines that the mortgagor under the mortgage is an eligible homeowner1 the mortgagee shall1 together with the notification required under subsection 7f7 submit to the eligible homeowner a written offer for forbearance that meets the requirements of subsection 7h74 7h7 ,terms of forbearance 7#a7 ,in general ,an offer for forbearance with respect to a covered mortgage meets the terms of this subsection only if-- 7,a7 the forbearance provides for the suspension of payments due under the mortgage for a period having a duration that is not shorter than #d months nor longer than #ab months2 and 7,b7 the offer provides for forbearance and terms1 requirements1 and procedures for such forbearance that otherwise comply with guidelines issued by the ,secretary and the ,director pursuant to paragraph 7#b7 of this subsection4 7#b7 ,establishment of terms ,the applicable agency heads shall1 by guidelines issued pursuant to subsection 7k71 provide for the terms1 requirements1 and procedures for forbearance offered under the program under this section4 ,such guidelines shall provide that-- 7,a7 such forbearance shall be in manner provided under1 and subject to the terms of1 the provisions of ,mortgagee ,letter #bjjb-ag of the ,secretary 7regarding ,special ,forbearance3 ,program ,changes and ,updates7 relating to ,type ,i ,special ,forbearance1 except that-- 7i7 an offer of forbearance under the program under this section shall only provide relief described in paragraph 7#a77;,a7 of this subsection2 7ii7 any requirement under such ,mortgagee ,letter relating to delinquency of the mortgage or payments due and unpaid shall not apply to the program under this section2 and 7iii7 the terms of such ,mortgagee ,letter shall apply with respect to mortgages described in subsection 7b77#b77;,b7 and to the ,director in the same manner and to the same extent that such ,mortgagee ,letter applies to mortgages described in subsection 7b77#b77;,a7 and the ,secretary2 and 7,b7 the period referred to in paragraph 7#a77;,a7 of this subsection may cover periods for which payments due under the mortgage were not paid that occurred before the request for relief under the program was submitted1 including periods occurring before the date of the enactment of this ,act4 7i7 ,other forbearance ,this section may not be construed to prevent an eligible homeowner and the mortgagee for the covered mortgage of such eligible homeowner from agreeing to any other terms of forbearance1 regardless of whether such eligible homeowner made a request under subsection 7e7 or received an offer of forbearance pursuant to subsection 7g74 7j7 ,other definitions ,for purposes of this section1 the following definitions shall apply3 7#a7 ,applicable agency head ,the term applicable agency head means-- 7,a7 the ,secretary1 with respect to a covered mortgage described in subsection 7b77#b77;,a72 and 7,b7 the ,director1 with respect to a covered mortgage described in subsection 7b77#b77;,b74 7#b7 ,director ,the term ,director means the ,director of the ,federal ,housing ,finance ,agency4 7#c7 ,mortgagee ,the term mortgagee means1 with respect to a covered mortgage1 the original lender under the mortgage and any affiliates1 agents1 subsidiaries1 successors1 or assignees of such lender1 any subsequent purchaser1 trustee1 or transferee of the mortgage or credit instrument issued by such lender4 7#d7 ,secretary ,the term ,secretary means the ,secretary of ,housing and ,urban ,development4 7k7 ,guidelines ,not later than the expiration of the #cj-;day period beginning on the date of the enactment of this ,act1 the ,secretary and the ,director shall jointly issue guidelines to carry out the program under this section4