,i #aafth ,,congress #b;d ,session ,h4 ,r4 #fcdj ,,in ,,the ,,house ,,of ,,representatives ,march #bc1 #bjbj,mr4 ,clay introduced the following bill2 which was referred to the ,committee on ,financial ,services ,a ,,bill ,to provide for mortgage forbearance during the ,,covid-#ai emergency1 and for other purposes4 #a4 ,mortgage forbearance 7a7 ,findings 7#a7 ,findings ,congress finds that-- 7,a7 the collection of debts involves the use of the mails and wires and other instrumentalities of interstate commerce2 7,b7 at times of major disaster or emergency1 the income of consumers is often impaired and their necessary daily expenses often increase2 7,c7 temporary forbearance benefits not only consumer and small business debtors1 but also other creditors by avoiding downward collateral price spirals triggered by an increase in foreclosure activity2 7,d7 without forbearance1 many consumers and small businesses are unlikely to be able to pay their obligations according to their original terms and are likely to default on obligations or file for bankruptcy1 resulting in reduced recoveries for creditors1 and in the case of bankruptcy1 no recovery of unaccrued interest2 7,e7 with forbearance1 creditors are likely to realize greater long-term value because consumers and small businesses will be more likely to be able to repay their obligations after the major disaster or emergency has subsided2 7,f7 the legislative and administrative response to major disasters and emergencies may consist of multiple components divided among different statutes and programs2 and 7,g7 when evaluating whether property has been taken from a person without just compensation1 a holistic evaluation of the burdens and benefits of all legislative and administrative responses1 including indirect benefits from macroeconomic stabilization1 is appropriate4 7#b7 ,further findings regarding mortgage forbearance ,congress further finds that-- 7,a7 ensuring that consumers are able to remain in their residences reduces the disruptions and economic harm caused by such disasters and emergencies by ensuring that consumers are able to continue their existing employment1 education1 childcare1 and healthcare arrangements1 which are often geographically based2 7,b7 temporary forbearance on residential mortgages is therefore critical to fostering economic recovery and stability in the wake of major disasters or emergencies2 7,c7 temporary mortgage forbearance during a declared disaster benefits not only mortgagors1 but also mortgagees because mortgagors' ability to pay is likely to be restored after a disaster or emergency subsides1 so forbearance may increase mortgagors' total recovery4 ,without forbearance1 mortgagors are likely to default or file for bankruptcy1 resulting in significant losses for mortgagees2 and 7,d7 temporary mortgage forbearance during a declared disaster also benefits the mortgagees of other properties because housing prices are geographically and serially correlated so an increase in foreclosures can drive down the value of collateral for all mortgage lenders1 further destabilizing the economy4 7#c7 ,further findings regarding mortgage servicers ,congress further finds that-- 7,a7 mortgage servicers are often contractually obligated to advance scheduled mortgage payments to securitization investors1 irrespective of whether the servicer collects the payment from the mortgagor2 7,b7 mortgage servicers are often thinly capitalized and with limited capacity for engaging in large scale advancing of payments to securitization investors2 7,c7 securitization investors have long been aware of servicers' thin capitalization2 7,d7 in the wake of the #bjjh financial crisis1 several servicers had difficulty obtaining sufficiently liquidity to make advances2 7,e7 mortgage servicing is a heavily regulated industry2 7,f7 in response to the #bjjh financial crisis1 ,congress created a safe harbor for mortgage servicers that undertook loan modifications2 7,g7 in response to the #bjjh financial crisis1 the ,home ,affordable ,modification ,program paid mortgage servicers to undertake loan modifications2 7,h7 as part of the #bjab joint ,state-,federal ,national ,mortgage ,settlement1 mortgage servicers committed to undertaking loan modifications2 and 7,i7 investors in mortgage securitizations are or should be aware of servicers' thin capitalization1 liquidity constraints1 the extent and history of servicing regulation and therefore do not have a reasonable expectation that the terms of servicing contracts will be enforceable at times of national financial crisis4 7#d7 ,determination ,it is the sense of the ,congress that1 on the basis of the findings described under paragraphs 7#a71 7#b71 and 7#c71 the ,congress determines that the provisions of this ,act are necessary and proper for the purpose of carrying into execution the powers of the ,congress to regulate commerce among the several ,states and to establish uniform bankruptcy laws4 7b7 ,prohibition on foreclosures and repossessions during the ,,covid-#ai emergency 7#a7 ,prohibition on foreclosures ,the ,real ,estate ,settlement ,procedures ,act of #aigd 7#ab ,u4,s4,c4 #bfja et seq47 is amended-- 7,a7 in section #c 7#ab ,u4,s4,c4 #bfjb7-- 7i7 in paragraph 7#h71 by striking and at the end2 7ii7 in paragraph 7#i71 by striking the period at the end and inserting 2 and2 and 7iii7 by adding at the end the following3 7#aj7 the term ,,covid-#ai emergency means the period that begins upon the date of the enactment of this ,act and ends on the date of the termination by the ,federal ,emergency ,management ,agency of the emergency declared on ,march #ac1 #bjbj1 by the ,president under the ,robert ,t4 ,stafford ,disaster ,relief and ,emergency ,assistance ,act 7#db ,u4,s4,c4 #daba et seq47 relating to the ,coronavirus ,disease #bjai 7,,covid-#ai7 pandemic4 2 and 7,b7 in section #f7k77#a7 7#ab ,u4,s4,c4 #bfje7k77#a77-- 7i7 in subparagraph 7,d71 by striking or at the end2 7ii7 by redesignating subparagraph 7,e7 as subparagraph 7,g72 and 7iii7 by inserting after subparagraph 7,d7 the following3 7,e7 commence or continue any judicial foreclosure action or non-judicial foreclosure process or any action to evict a consumer following a foreclosure during the ,,covid-#ai emergency or the #ahj-;day period following such emergency 7except that such prohibition shall not apply to a mortgage secured by a dwelling that the servicer has determined after exercising reasonable diligence is vacant or abandoned72 7,f7 fail to toll the time in a foreclosure process on a property during the ,,covid-#ai emergency or the #ahj-;day period following such emergency 7except that such prohibition shall not apply to a mortgage secured by a dwelling that the servicer has determined after exercising reasonable diligence is vacant or abandoned72 or 4 7#b7 ,repossession prohibition ,during the ,,covid-#ai emergency and for the #ahj-;day period following such emergency1 a servicer of a consumer loan secured by a manufactured home or a motor vehicle may not repossess such home or vehicle4 7c7 ,forbearance of residential mortgage loan payments for single family properties 7#a-d units7 ,section #f of the ,real ,estate ,settlement ,procedures ,act of #aigd 7#ab ,u4,s4,c4 #bfje7 is amended by adding at the end the following3 7n7 ,forbearance during the ,,covid-#ai emergency 7#a7 ,consumer right to request a forbearance 7,a7 ,request for forbearance ,a borrower experiencing a financial hardship during the ,,covid-#ai emergency may request forbearance from any mortgage obligation1 regardless of delinquency status1 by submitting a request to the borrower's servicer1 either orally or in writing1 affirming that the borrower is experiencing hardship during the ,,covid-#ai emergency4 ,a borrower shall not be required to provide any additional documentation to receive such forbearance4 7,b7 ,length of forbearance2 extension ,a forbearance requested pursuant to subparagraph 7,a7 shall be provided for a period of #ahj days1 and may be extended upon request of the borrower for an additional #ahj days4 7,c7 ,treatment of tenants ,a borrower receiving a forbearance under this subsection with respect to a mortgage secured by a dwelling that has tenants1 whether or not the borrower also lives in the dwelling1 shall provide the tenants with rent relief for a period not less than the period covered by the forbearance4 7#b7 ,automatic forbearance for delinquent borrowers 7,a7 ,in general ,notwithstanding any other law governing forbearance relief1 during the ,,covid-#ai emergency1 any borrower who is or becomes #fj days or more delinquent on a mortgage obligation shall automatically be granted a #ahj-;day forbearance1 which may be extended upon request of the borrower for an additional #ahj days4 ,such a borrower may elect to continue making regular payments by notifying the servicer of the mortgage obligation of such election4 7,b7 ,notice to borrower ,the servicer of a mortgage obligation placed in forbearance pursuant to subparagraph 7,a7 shall provide the borrower written notification of the forbearance and its duration as well as information about available loss mitigation options and the right to end the forbearance and resume making regular payments4 7,c7 ,treatment of payments during forbearance ,any payments made by the borrower during the forbearance period shall be credited to the borrower's account in accordance with section #abi;,f of the ,truth in ,lending ,act 7#ae ,u4,s4,c4 #afci;f7 or as the borrower may otherwise instruct that is consistent with the terms of the mortgage loan contract4 7#c7 ,requirements for servicers 7,a7 ,notification 7i7 ,in general ,each servicer of a federally related mortgage loan shall notify the borrower of their right to request forbearance under paragraph 7#a7-- 7,i7 not later than #ad days after the date of enactment of this subsection2 and 7,,ii7 until the end of ,,covid-#ai emergency-- 7aa7 on each periodic statement provided to the borrower2 and 7bb7 in any oral or written communication by the servicer with or to the borrower4 7ii7 ,manner of notification 7,i7 ,written notification ,any written notification required under this section-- 7aa7 shall be provided-- 7,,aa7 in ,english and ,spanish and in any additional languages in which the servicer communicates1 including the language in which the loan was negotiated1 to the extent known by the servicer2 and 7,,bb7 at least as clearly and conspicuously as the most clear and conspicuous disclosure on the document2 7bb7 shall include the notification of the availability of language assistance and housing counseling produced by the ,federal ,housing ,finance ,agency under subsection 7o72 and 7cc7 may be provided by first-class mail or electronically1 if the borrower has otherwise consented to electronic communication with the servicer and has not revoked such consent4 7,,ii7 ,oral notification ,any oral notification required under clause 7i7 shall be provided in the language the servicer otherwise uses to communicate with the borrower4 7,,iii7 ,written translations ,in providing written notifications in languages other than ,english under subclause 7,i71 a servicer may rely on written translations developed by the ,federal ,housing ,finance ,agency or the ,bureau4 7,b7 ,other requirements 7i7 ,forbearance required ,upon receiving a request for forbearance from a consumer under paragraph 7#a7 or placing a borrower in automatic forbearance under paragraph 7#b71 a servicer shall provide the forbearance for not less than #ahj days1 and an additional #ahj days at the request of the borrower1 provided that the borrower will have the option to discontinue the forbearance at any time4 7ii7 ,prohibition on fees1 penalties1 and interest ,during the period of a forbearance under this subsection1 no fees1 penalties or additional interest beyond the amounts scheduled or calculated as if the borrower made all contractual payments on time and in full under the terms of the mortgage contract in effect at the time the borrower enters into the forbearance shall accrue4 7iii7 ,treatment of escrow payments ,if a borrower in forbearance under this subsection is required to make payments to an escrow account1 the servicer shall pay or advance the escrow disbursements in a timely manner 7defined as on or before the deadline to avoid a penalty71 regardless of the status of the borrower's payments4 ,the servicer may collect any resulting escrow shortage or deficiency from the borrower after the forbearance period ends1 in a lump sum payment1 spread over #fj months1 or capitalized into the loan1 at the borrower's election4 4 7d7 ,notification of language assistance and housing counseling ,section #f of the ,real ,estate ,settlement ,procedures ,act of #aigd 7#ab ,u4,s4,c4 #bfje71 as amended by subsection 7c71 is further amended by adding at the end the following3 7o7 ,notification of language assistance and housing counseling 7#a7 ,in general ,the ,federal ,housing ,finance ,agency shall1 within #cj days of the date of enactment of this ,act1 make available a document providing notice of the availability of language assistance and housing counseling in substantially the same form1 and in at least the same languages1 as the existing ,language ,translation ,disclosure4 7#b7 ,minimum requirement ,the document described under subsection 7a7 shall include the notice in at least all the languages for which ,federal ,housing ,finance ,agency currently has translations on its existing ,language ,translation ,disclosure available4 7#c7 ,provision to servicers ,the ,federal ,housing ,finance ,agency shall make this document available to servicers to fulfill their requirements under subsection 7n74 4 7e7 ,united ,states ,department of ,agriculture ,direct ,loan ,program ,section #eje of the ,housing ,act of #aidi 7#db ,u4,s4,c4 #adge7 is amended-- 7#a7 by redesignating subsection 7b7 as subsection 7c72 and 7#b7 by inserting after subsection 7a7 the following3 7b7 ,loan modification 7#a7 ,in general ,the ,secretary shall implement a loan modification program to modify the terms of outstanding loans for borrowers who face financial hardship4 7#b7 ,affordable payments ,the ,secretary's loan modification program under paragraph 7#a7 shall be designed so as to provide affordable payments for borrowers4 ,in defining affordable payments the ,secretary shall consult definitions of affordability promulgated by the ,federal ,housing ,finance ,authority1 the ,department of ,housing and ,urban ,development1 and the ,bureau of ,consumer ,financial ,protection4 7#c7 ,additional program requirements ,the ,secretary's loan modification program under paragraph 7#a7 shall allow for measures including extension of the remaining loan term to up to #dhj months and a reduction in interest rate to the market interest rate as defined by regulations of the ,secretary4 ,the modification program shall be available for borrowers in a moratorium and for borrowers not already in a moratorium who qualify under the terms established by the ,secretary4 ,the ,secretary may also establish reasonable additional measures for providing affordable loan modifications to borrowers4 2 7#c7 in subsection 7c71 as so redesignated1 by adding at the end the following3 ,acceleration of the promissory note and initiation of foreclosure proceedings shall not terminate a borrower's eligibility for a moratorium1 loan reamortization1 special servicing1 or other foreclosure alternative42 and 7#d7 by adding at the end the following3 7d7 ,requirement ,the ,secretary shall comply with subsection 7k77#a71 7n71 and 7o7 of section #f of the ,real ,estate ,settlement ,procedures ,act of #aigd with respect to any single-family loans it holds or services4 4 7f7 ,forbearance of residential mortgage loan payments for multifamily properties 7#e units7 7#a7 ,in general ,during the ,,covid-#ai emergency1 a multifamily borrower experiencing a financial hardship due1 directly or indirectly1 to the ,,covid-#ai emergency may request a forbearance under the terms set forth in this section4 7#b7 ,request for relief ,a multifamily borrower may submit a request for forbearance under paragraph 7#a7 to the borrower's servicer1 either orally or in writing1 affirming that the multifamily borrower is experiencing hardship during the ,,covid-#ai emergency4 7#c7 ,forbearance period 7,a7 ,in general ,upon receipt of an oral or written request for forbearance from a multifamily borrower1 a servicer shall-- 7i7 document the financial hardship2 7ii7 provide the forbearance for not less than #ahj days2 and 7iii7 provide the forbearance for an additional #ahj days upon the request of the borrower at least #cj days prior to the end of the forbearance period described under subparagraph 7,a74 7,b7 ,right to discontinue ,a multifamily borrower shall have the option to discontinue the forbearance at any time4 7#d7 ,renter protections ,during the term of a forbearance under this section1 a multifamily borrower may not-- 7,a7 evict a tenant for nonpayment of rent2 or 7,b7 apply or accrue any fees or other penalties on renters for nonpayment of rent4 7#e7 ,obligation to bring the loan current ,a multifamily borrower shall bring a loan placed in forbearance under this section current within the earlier of-- 7,a7 #ab months after the conclusion of the forbearance period2 or 7,b7 receipt of any business interruption insurance proceeds by the multifamily borrower4 7#f7 ,definition ,for the purposes of this subsection1 the term multifamily borrower means a borrower of a residential mortgage loan that is secured by a lien against a property comprising five or more dwelling units4 7g7 ,federal ,reserve credit facility for mortgage servicers 7#a7 ,in general ,the ,board of ,governors of the ,federal ,reserve ,system and the ,secretary of the ,treasury1 pursuant to the authority granted under section #ac7c7 of the ,federal ,reserve ,act1 directly 7or indirectly through an intermediary1 such as the ,federal ,national ,mortgage ,association1 the ,federal ,home ,loan ,mortgage ,corporation1 the ,government ,national ,mortgage ,association1 an insured depository institution1 non-depository lending institution1 or a special purpose vehicle7-- 7,a7 shall extend credit to mortgage servicers and other obligated advancing parties that in each case have liquidity needs due to the ,,covid-#ai emergency or compliance with this ,act with respect to mortgage loans 7the affected mortgages72 and 7,b7 may extend further credit to mortgage servicers for other liquidity needs due to the actual or imminent delinquency or default on mortgage loans due to the ,,covid-#ai emergency4 7#b7 ,non-compliant servicers ,a mortgage servicer shall not be eligible for assistance under paragraph 7#a7 if the provider is in violation of any requirement under this ,act1 and fails to promptly cure any such violation upon notice or discovery thereof4 7#c7 ,payments and purchases ,credit extended under paragraph 7#a77;,a7 shall be in an amount sufficient to-- 7,a7 cover-- 7i7 the pass-through payment of principal and interest to mortgage-backed securities holders2 7ii7 the payment of taxes and insurance to third parties2 and 7iii7 the temporary reimbursement of modification costs and fees due to servicers that will be deferred until such time as a forbearance period terminates1 due in each case on1 or in respect of1 such affected mortgage loans or related mortgage-backed securities2 and 7,b7 purchase affected mortgages from pools of securitized mortgages4 7#d7 ,collateral ,the credit authorized by this section shall be secured by the pledgor's interest in accounts receivable1 loans1 or related interests resulting from the payment advances made on the affected mortgages by the mortgage servicers4 7#e7 ,credit support ,the ,secretary of the ,treasury shall provide credit support to the ,board of ,governors of the ,federal ,reserve ,system for the program required by this section4 7#f7 ,conflict with other laws ,notwithstanding any ,federal or ,state law to the contrary1 the ,federal ,national ,mortgage ,association1 the ,federal ,home ,loan ,mortgage ,corporation1 and the ,government ,national ,mortgage ,association may permit the pledge or grant of a security interest in the pledgor's interest in such accounts receivable or loans or related interests and honor or permit the enforcement of such pledge or grant in accordance with its terms4 7#g7 ,duration ,the extension of credit by the ,board of ,governors of the ,federal ,reserve ,system and credit support from the ,secretary of the ,treasury under this section shall be available until the later of-- 7,a7 #f months after the end of the ,,covid-#ai emergency2 and 7,b7 the date on which the ,board of ,governors of the ,federal ,reserve ,system and the ,secretary of the ,treasury determine such credit and credit support should no longer be available to address the liquidity concern addressed by this section4 7#h7 ,amendments to ,national ,housing ,act ,section #cjf7;g77#a7 of the ,national ,housing ,act 7#ab ,u4,s4,c4 #agba7;g77#a77 is amended-- 7,a7 by inserting the following new sentence after the fourth sentence in the paragraph3 ,in any case in which 7,i7 the ,president declares a major disaster or emergency for the ,nation or any area that in either case has been affected by damage or other adverse effects of sufficient severity and magnitude to warrant major disaster assistance under the ,robert ,t4 ,stafford ,disaster ,relief and ,emergency ,assistance ,act or other ,federal law1 7,,ii7 upon request of an ,issuer of any security1 the ,association elects to extend to the ,issuer one or more of the disaster assistance or emergency programs that the ,association determines to be available to account for the ,issuer's failure or anticipated failure to receive from the mortgagor the full amount of principal and interest due1 then 7,,iii7 the ,association may elect not to declare the ,issuer to be in default because of such request for such disaster or emergency assistance42 7,b7 by inserting after the word issued in the sixth sentence1 as redesignated1 the following3 subject to any pledge or grant of security interest of the pledgor's interest in and to any such mortgage or mortgages or any interest therein and the proceeds thereon1 which the ,association may elect to approve22 and 7,c7 by inserting after the word issued in the seventh sentence1 as redesignated1 the following3 1 or 7,d7 its approval and honoring of any pledge or grant of security interest of the pledgor's interest in and to any such mortgage or mortgages or any interest therein and proceeds thereon44 7h7 ,safe harbor 7#a7 ,in general ,notwithstanding any other provision of law1 whenever a servicer of residential mortgages of residential mortgage-backed securities-- 7,a7 grants a borrower relief under section #f7n7 and #f7p7 of the ,real ,estate ,settlement ,procedures ,act of #aigd with respect to a residential mortgage originated before ,april #a1 #bjbj1 including a mortgage held in a securitization or other investment vehicle2 and 7,b7 the servicer or trustee or issuer owes a duty to investors or other parties regarding the standard for servicing such mortgage1 the servicer shall be deemed to have satisfied such a duty1 and the servicer shall not be liable to any party who is owed such a duty and shall not be subject to any injunction1 stay1 or other equitable relief to such party1 based upon its good faith compliance with the provisions of #f7n7 and #f7p7 of the ,real ,estate ,settlement ,procedures ,act of #aigd4 ,any person1 including a trustee or issuer1 who cooperates with a servicer when such cooperation is necessary for the servicer to implement the provisions of #f7n7 and #f7p7 of the ,real ,estate ,settlement ,procedures ,act of #aigd shall be protected from liability in the same manner4 7#b7 ,standard industry practice ,compliance with #f7n7 and #f7p7 of the ,real ,estate ,settlement ,procedures ,act of #aigd during the ,,covid-#ai emergency shall constitute standard industry practice for purposes of all ,federal and ,state laws4 7#c7 ,definitions ,as used in this subsection-- 7,a7 the term servicer has the meaning given that term under section #f7;i77#b7 of the ,real ,estate ,settlement ,procedures ,act of #aigd 7#ab ,u4,s4,c4 #bfje7;i77#b772 and 7,b7 the term securitization vehicle has the meaning given that term under section #abi;,a7f77#c7 of the ,truth in ,lending ,act 7#ae ,u4,s4,c4 #afci;a7f77#c774 7#d7 ,rule of construction ,no provision of paragraph 7#a7 or 7#b7 shall be construed as affecting the liability of any servicer or person for actual fraud in servicing of a loan or for the violation of a ,state or ,federal law4 7i7 ,post-,pandemic mortgage repayment options ,section #f of the ,real ,estate ,settlement ,procedures ,act of #aigd 7#ab ,u4,s4,c4 #bfje71 as amended by subsection 7d71 is further amended by adding at the end the following3 7p7 ,post-,pandemic mortgage repayment options ,with respect to a federally related residential mortgage loan1 before the end of any forbearance provided under subsection 7n71 servicers shall-- 7#a7 evaluate the borrower's ability to return to making regular mortgage payments2 7#b7 if the borrower is able to return to making regular mortgage payments at the end of the forbearance period-- 7,a7 modify the borrower's loan to extend the term for the same period as the length of the forbearance1 with all payments that were not made during the forbearance distributed at the same intervals as the borrower's existing payment schedule and evenly distributed across those intervals1 with no penalties1 late fees1 additional interest accrued beyond the amounts scheduled or calculated as if the borrower made all contractual payments on time and in full under the terms of the mortgage contract in effect at the time the borrower entered into the forbearance1 and with no modification fee charged to the borrower2 or 7,b7 if the borrower elects to modify the loan to capitalize a resulting escrow shortage or deficiency1 the servicer may modify the borrower's loan by re-amortizing the principal balance and extending the term of the loan sufficient to maintain the regular mortgage payments2 and 7,c7 notify the borrower in writing of the extension1 including provision of a new payment schedule and date of maturity1 and that the borrower shall have the election of prepaying the suspended payments at any time1 in a lump sum or otherwise2 7#c7 if the borrower is financially unable to return to making periodic mortgage payments as provided for in the mortgage contract at the end of the ,,covid-#ai emergency-- 7,a7 evaluate the borrower for all loan modification options1 without regard to whether the borrower has previously requested1 been offered1 or provided a loan modification or other loss mitigation option and without any requirement that the borrower come current before such evaluation or as a condition of eligibility for such modification1 including-- 7i7 further extending the borrower's repayment period2 7ii7 reducing the principal balance of the loan2 or 7iii7 other modification or loss mitigation options available to the servicer under the terms of any investor requirements and existing laws and policies2 and 7,b7 if the borrower qualifies for such a modification1 the service shall offer a loan with such terms as to provide a loan with such terms as to provide an affordable payment1 with no penalties1 late fees1 additional interest beyond the amounts scheduled or calculated as if the borrower made all contractual payments on time and in full under the terms of the mortgage contract in effect at the time the borrower entered into the forbearance1 and with no modification fees charged to the borrower2 and 7#d7 if a borrower is granted a forbearance on payments that would be owed pursuant to a trial loan modification plan-- 7,a7 any forbearance of payments shall not be treated as missed or delinquent payments or otherwise negatively affect the borrower's ability to complete their trial plan2 7,b7 any past due amounts as of the end of the trial period1 including unpaid interest1 real estate taxes1 insurance premiums1 and assessments paid on the borrower's behalf1 will be added to the mortgage loan balance1 but only to the extent that such charges are not fees associated with the granting of the forbearance1 such as late fees1 modification fees1 or unpaid interest from the period of the forbearance beyond the amounts scheduled or calculated as if the borrower made all contractual payments on time and in full under the terms of the mortgage contract in effect at the time the borrower entered into the forbearance2 and 7,c7 if the borrower is unable to resume payments on the trial modification at the end of the forbearance period1 re-evaluate the borrower for all available loan modifications under paragraph #c1 without any requirement that the borrower become current before such evaluation or as a condition of eligibility for such modification4 4 7j7 ,claims of affected investors and other parties ,any action asserting a taking under the ,fifth ,amendment to the ,constitution of the ,united ,states as a result of this subsection shall be brought not later than #ahj days after the end of the ,,covid-#ai emergency4 7k7 ,extension of the ,,gse ,patch ,the ,director of the ,bureau of ,consumer ,financial ,protection shall revise section #ajbf4dc7;e77#d77;iii77,b7 of title #ab1 ,code of ,federal ,regulations1 to extend the sunset of the special rule provided under such section #ajbf4dc7;e77#d7 until ,january #a1 #bjbb1 or such later date as may be determined by the ,bureau4 7l7 ,definitions ,in this section3 7#a7 ,,covid-#ai emergency ,the term ,,covid-#ai emergency means the period that begins upon the date of the enactment of this ,act and ends on the date of the termination by the ,federal ,emergency ,management ,agency of the emergency declared on ,march #ac1 #bjbj1 by the ,president under the ,robert ,t4 ,stafford ,disaster ,relief and ,emergency ,assistance ,act 7#db ,u4,s4,c4 #daba et seq47 relating to the ,coronavirus ,disease #bjai 7,,covid-#ai7 pandemic4 7#b7 ,manufactured home ,the term manufactured home has the meaning given that term under section #fjc of the ,national ,manufactured ,housing ,construction and ,safety ,standards ,act of #aigd 7#db ,u4,s4,c4 #edjb74 7#c7 ,motor vehicle ,the term motor vehicle has the meaning given that term under ,section #ajbi7;f7 of the ,consumer ,financial ,protection ,act of #bjaj 7#ab ,u4,s4,c4 #eeai7;f774 7#d7 ,residential mortgage loan ,the term residential mortgage loan means any consumer credit transaction that is secured by a mortgage1 deed of trust1 or other equivalent consensual security interest on residence consisting of a single dwelling unit that is occupied by the mortgagor4