MBA Statement on the House Passage of the HEROES Act
|Rob Van Raaphorst|
WASHINGTON, D.C. (May 15, 2020) - MBA President and CEO Bob Broeksmit, CMB, released the following statement regarding the House passage of the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act:
"MBA acknowledges the House passage of the HEROES Act, particularly Division K of the bill that contains several key provisions impacting homeowners and renters across our nation. We are grateful that the bill would direct the Federal Reserve credit facility authority enacted under the CARES Act to be utilized, as needed, by mortgage servicers and residential rental property owners. This would allow them to more smoothly implement the unprecedented, but well warranted, forbearance and eviction moratorium requirements established earlier this year.
"We are also grateful for the bill's provisions that would set the marker for further discussions on additional direct rental and homeowner relief. We look forward to working with leaders in both parties of the Senate and House - and within the administration - as discussions progress on this debate."