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Ex. SEC-13-094 Order Primary source read

D.C. Act 23-286, COVID-19 Response Supplemental Emergency Amendment Act of 2020

COVID-19 Response Supplemental Emergency Amendment Act of 2020 (sec. 202, Mortgage relief: mandatory 90-day deferment program)

Council of the District of Columbia (emergency act); signed by Mayor Muriel Bowser · District of Columbia (State)

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The record

Jurisdiction
District of Columbia
Level
State
Authority
D.C. Official Code 1-204.12(a) (emergency legislation); Mortgage Lender and Broker Act of 1996
Issued
2020-04-10 Apr. 10, 2020
Effective
2020-04-10 (emergency act; the District of Columbia State file records the Act as recited effective Apr. 7, 2020) (read as 2020-04-10)
End
sec. 202 applies during the Mayor's declared public health emergency and for 60 days thereafter (the District's public health emergency ran to July 25, 2021); 90-day emergency act re-enacted in successive temporary and emergency acts (Coronavirus Support Emergency Amendment Acts) (read as 2021-07-25)
In force
Apr. 10, 2020 to July 25, 2021
Quarters
2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
Limitation types
Other
Addressees
  • mortgage servicers holding servicing rights to residential or commercial mortgage loans under the jurisdiction of the Commissioner of the Department of Insurance, Securities, and Banking
Functions reached
  • SV (compelled 90-day deferment program for residential and commercial mortgages)
  • BL (commercial mortgage borrowers)
  • ML
Collection
Financial Services SEC-13

Operative words

Sec. 202. Mortgage relief.... during a period of time for which the Mayor has declared a public health emergency... and for 60 days thereafter, a mortgage servicer that holds mortgage servicing rights to a residential mortgage loan or commercial mortgage loan under the jurisdiction of the Commissioner of the Department of Insurance, Securities, and Banking, shall develop a deferment program for borrowers that, at a minimum: (1) Grants at least a 90-day deferment period of mortgage payments for borrowers;... (c) The mortgage servicer shall approve each application in which a borrower: (1) Demonstrates to the mortgage servicer evidence of a financial hardship resulting directly or indirectly from the public health emergency... (e) A mortgage servicer shall be prohibited from requiring a lump sum payment from any borrower at the end of the forbearance period

Enforcement

Mortgage Lender and Broker Act sec. 13 complaints; DISB enforcement

Notes

Text read. Title II also enhanced penalties for unlawful trade practices; Title I addressed unemployment insurance and emergency sick leave.

A record of The COVID Project. The instrument's text is the source's; the summary fields are The COVID Project's reading of it. Not legal advice.