ABSTRACT

Protecting Homeowners During the Pandemic: Oversight of Mortgage Servicers' Implementation of the CARES Act, Virtual Hearing Before the Subcommittee on Oversight and Investigations of the Committee on Financial Services, U.S. House of Representatives, One Hundred Sixteenth Congress, Second Session, July 16, 2020   [open pdf - 307MB]

This is the July 16, 2020 virtual hearing on "Protecting Homeowners During the Pandemic: Oversight of Mortgage Servicers' Implementation of the CARES [Coronavirus Aid, Relief, and Economic Security] Act," held before the House Subcommittee on Oversight and Investigations of the Committee on Financial Services. From the Opening Statement: "Often, servicers fail to provide the borrowers with the 180-day forbearance that has been set in the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Too often, borrowers were given but 90 days. I have some evidence of this failure to comply that I shall share with you. [...] And we find, pursuant to some of the testimony that you will hear today, that many of these borrowers who are accorded this 90- day period, as opposed to the 180 days, are borrowers of color. It seems that this is, like many other things, having a disproportionate impact on persons of color, which causes me a good deal of consternation, I might add." Statements, letters, and materials submitted for the record include those of the following: Alys Cohen, Edward J. DeMarco, Marcia Griffin, and Donnell Williams.

Report Number:
Serial No. 116-104
Publisher:
Date:
2021
Series:
Copyright:
Public Domain
Retrieved From:
U.S. Government Publishing Office: https://www.gpo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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