Rent and Mortgage Cancellation Act of 2021
Bill: H.R.1847 | Sponsor: Rep. Omar, Ilhan (D-MN)
Policy area: Housing and Community Development

Summary:
Rent and Mortgage Cancellation Act of 2021
This bill provides housing assistance during the COVID-19 public health emergency.
Specifically, the bill suspends rental and mortgage payments for primary residences through April 1, 2022. The bill also forgives rental and mortgage debt accrued from March 13, 2020, through April 1, 2022. The Department of Housing and Urban Development (HUD) must establish funds to reimburse lessors and lenders for payments suspended or forgiven under the bill.
In addition, HUD must establish an Affordable Housing Acquisition Fund to support the acquisition of multifamily housing projects by nonprofit organizations, public housing agencies, cooperative housing associations, community land trusts, and state and local governments. For a five-year period, entities that are approved for such assistance shall be provided the first right of purchase with respect to these projects.

To suspend obligations of residential renters and mortgagors to make 
    payments during the COVID-19 emergency, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Rent and Mortgage Cancellation Act 
of 2021''.

SEC. 2. SUSPENSION OF OBLIGATIONS TO MAKE RESIDENTIAL MORTGAGE AND RENT 
              PAYMENTS.

    (a) Rent Payments.--
            (1) Suspension.--Notwithstanding any other provision of 
        law, the obligation of each tenant household of a covered 
        rental dwelling unit to pay rent for occupancy in such dwelling 
        unit shall be suspended with respect to such occupancy during 
        the COVID-19 suspension period.
            (2) Prohibitions.--
                    (A) On fines.--No tenant or tenant household may be 
                charged a fine or fee for nonpayment of rent in 
                accordance with paragraph (1) and such nonpayment of 
                rent shall not be grounds for any termination of 
                tenancy or eviction.
                    (B) On debt.--No tenant or tenant household may be 
                treated as accruing any debt by reason of suspension of 
                contribution of rent under paragraph (1).
                    (C) On repayment.--No tenant or tenant household 
                may be held liable for repayment of any amount of rent 
                contribution suspended under paragraph (1).
                    (D) On credit scores.--The nonpayment of rent by a 
                tenant or tenant household shall not be reported to a 
                consumer reporting agency nor shall such nonpayment 
                adversely affect a tenant or member of a tenant 
                household's credit score.
    (b) Mortgage Payments.--
            (1) Suspension.--Notwithstanding any other provision of 
        law, the obligation of each mortgagor under a covered 
        residential mortgage loan to make mortgage payments of 
        principal and interest that become due during the COVID-19 
        suspension period is hereby suspended.
            (2) Requirements and prohibitions.--
                    (A) On debt.--No mortgagor under any covered 
                residential mortgage loan may be held responsible for 
                payment of mortgage payments suspended under paragraph 
                (1) or treated as accruing any debt by reason of 
                suspension under such paragraph of the obligation to 
                make mortgage payments.
                    (B) On foreclosure.--A mortgagee under a covered 
                residential mortgage loan (or servicer for such 
                mortgagee) may not commence or continue any judicial 
                foreclosure action or non-judicial foreclosure process 
                or any action for failure to make a payment due under 
                such mortgage that is suspended pursuant to paragraph 
                (1).
                    (C) On fees, penalties, and interest.--No fees, 
                penalties, or additional interest beyond the amounts 
                scheduled or calculated as if the mortgagor made all 
                contractual payments on time and in full under the 
                terms of the mortgage contract in effect as of the 
                commencement of the COVID-19 suspension period shall 
                accrue.
                    (D) On credit scores.--The nonpayment of a mortgage 
                payment by a mortgagor pursuant to suspension under 
                paragraph (1) of the obligation to make such payment 
                shall not be reported to a consumer reporting agency 
                nor shall such nonpayment adversely affect a 
                mortgagor's credit score.
    (c) Notice.--The Secretary of Housing and Urban Development shall 
establish and carry out a system to notify all tenants of covered 
rental dwelling units, including tenants described in section 
8(1)(B)(ii), and all mortgagors under covered residential mortgage 
loans, of the suspensions under paragraph (1) of subsections (a) and 
(b) of the obligations to make rental payments or mortgage payments, 
respectively, and of their right to pursue legal action pursuant to 
section 4.

SEC. 3. FORGIVENESS OF RESIDENTIAL RENT AND MORTGAGE DEBT.

    (a) Rent Debt.--
            (1) In general.--Notwithstanding any other provision of 
        law, all debt for unpaid residential rent arrears for a covered 
        rental dwelling unit that accrued from March 13, 2020, through 
        April 1, 2022, is hereby forgiven.
            (2) Preemption.--To the extent that any State or local law 
        or decision of any State or local court or arbitral body 
        conflicts with paragraph (1), it is preempted and shall have no 
        force or effect.
            (3) No effect on credit score.--Receipt of forgiveness of 
        residential rent debt pursuant to paragraph (1) shall not be 
        reported to any consumer reporting agency nor shall receipt of 
        such forgiveness adversely affect the credit score of any 
        tenant or member of a tenant household.
    (b) Mortgage Debt.--
            (1) In general.--Notwithstanding any other provision of 
        law, all debt for unpaid residential mortgage arrears under a 
        covered residential mortgage loan that accrued from March 13, 
        2020, through April 1, 2022, is hereby forgiven.
            (2) Reduction of balance.--By consequence of the 
        forgiveness required under paragraph (1), forgiven mortgage 
        debt shall be reduced from mortgagors' interest and principal 
        balances, as applicable.
            (3) Preemption.--To the extent that any State or local law 
        or decision of any State or local court or arbitral bodies 
        conflicts with paragraph (1), it is preempted and shall have no 
        force or effect.
            (4) No effect on credit score.--Receipt of forgiveness of 
        residential rent debt pursuant to paragraph (1) shall not be 
        reported to any consumer reporting agency nor shall receipt of 
        such forgiveness adversely affect the credit score of a 
        mortgagor.
    (c) Notice.--The Secretary of Housing and Urban Development shall 
establish and carry out a system to notify all tenants of covered 
rental dwelling units, including tenants described in section 
8(1)(B)(ii), and all mortgagors under covered residential mortgage 
loans, of the forgiveness under paragraph (1) of subsections (a) and 
(b) of debt for unpaid residential rent and mortgage arrears, 
respectively, and of their right to pursue legal action pursuant to 
section 4.

SEC. 4. CIVIL ACTION.

    (a) In General.--Any individual aggrieved by an adverse action 
taken by a lessor or mortgagee for exercising rights under section 2 or 
3 may commence a civil action under this section against the lessor or 
mortgagee violating such section in an appropriate United States 
district court or State court not later than 2 years after such 
violation occurs for damages under subsection (b).
    (b) Damages; Penalty.--Any lessor or mortgagee found to have taken 
adverse action against any lessee or mortgagor for exercising rights 
under section 2 shall be liable--
            (1) to the individual aggrieved by such violation, for any 
        actual damages as a result of such adverse action; and
            (2) for a fine in the amount of--
                    (A) $5,000, in the case of violation that is the 
                first violation by such lessor or mortgagee;
                    (B) $10,000, in the case of violation that is the 
                second violation by such lessor or mortgagee; and
                    (C) $50,000 or forfeiture of the property, in the 
                case of violation that is the third or subsequent 
                violation by such lessor or mortgagee.
    (c) Authority of Court.--In an action brought under this section, 
the court--
            (1) may award preventative relief, including a permanent or 
        temporary injunction or other order, to ensure the full rights 
        granted by subsections (a) and (b) of section 2 and by 
        subsections (a) and (b) of section 3; and
            (2) shall award any prevailing plaintiff, other than the 
        United States, reasonable attorney's fee and costs.
    (d) Attorney General Enforcement.--The Attorney General may bring a 
civil action in any appropriate United States district court against 
any individual who violates subsection (a) or (b) of section 2 for 
fines, or subsection (a) or (b) of section 3, under subsection (b)(2) 
of this section.

SEC. 5. LANDLORD RELIEF FUND.

    (a) Establishment.--The Secretary of Housing and Urban Development 
shall establish and manage a Landlord Relief Fund (in this section 
referred to as the ``Fund''), to provide lessors payments under this 
section to reimburse such lessors for payments under covered rental 
dwelling units suspended or forgiven pursuant to section 2(a) or 3(a), 
respectively.
    (b) Application.--The Secretary shall provide for lessors of 
covered rental dwelling units to apply for reimbursement payments from 
the Fund, which applications shall include the certifications and 
binding agreements required pursuant to subsection (c).
    (c) Eligibility.--The Secretary may provide a payment under this 
section only with respect to covered rental dwelling units that meet 
all of the following requirements:
            (1) Fair rental requirements.--The lessor of the covered 
        rental dwelling unit has made such certifications to, and 
        entered into such binding agreements with, the Secretary as the 
        Secretary considers necessary to ensure that during the 5-year 
        period beginning upon initial receipt by such lessor of payment 
        under this section for such dwelling unit, such dwelling unit 
        shall be subject to the following requirements:
                    (A) Rent freeze.--The monthly rent for the dwelling 
                unit may not be increased from the amount of such rent 
                charged as of the date of the enactment of this Act.
                    (B) Just-cause evictions.--A tenant of the dwelling 
                unit may be evicted only for just cause and only 
                pursuant to advance written notice to the tenant of 
                such just cause.
                    (C) Source of income discrimination.--The lessor 
                may not refuse to rent the dwelling unit, or 
                discriminate in the renting of the dwelling unit, to a 
                household based on the source of income of such 
                household, including income under the program under 
                section 8(o) of the United States Housing Act of 1937 
                (42 U.S.C. 1437f(o)) or any similar tenant-based rental 
                assistance program.
                    (D) New vacancies.--The lessor shall coordinate 
                with the public and other housing authorities for the 
                jurisdiction within which the dwelling unit is located 
                to make the dwelling unit available, upon any vacancy, 
                to households assisted as described in subparagraph 
                (C).
                    (E) Admissions restrictions.--The lessor may not 
                restrict tenancy of the dwelling unit on the basis of 
                sexual identity or orientation, gender identity or 
                expression, conviction or arrest record, credit 
                history, or immigration status.
                    (F) Arrearages.--The lessor may not collect an 
                arrearage in rent owed by the tenant as of the 
                expiration of such 5-year period.
                    (G) Retaliation.--The lessor may not retaliate in 
                any way against a tenant of the dwelling unit.
                    (H) Debt collectors and credit reporting 
                agencies.--The lessor may not report the tenant of the 
                dwelling unit to a debt collector or provide any 
                adverse information regarding the tenant to any credit 
                reporting agency.
            (2) Required disclosures.--
                    (A) In general.--The lessor shall disclose, for any 
                person that has an ownership interest in the lessor, 
                including any members, shareholders, general partners, 
                or limited partners, if applicable, the following 
                information:
                            (i) Name.
                            (ii) Address of place of residence.
                            (iii) Date of birth.
                            (iv) Social Security Number or Employer 
                        Identification Number.
                            (v) Size of their interest in the lessor.
                            (vi) Type of entity.
                            (vii) State of incorporation.
                            (viii) Registered agent.
                            (ix) Address of any covered rental dwelling 
                        units owned by such person.
                            (x) Occupancy or vacancy status of all 
                        covered rental dwelling units owned by such 
                        person.
                            (xi) Current rents charged for all covered 
                        rental dwelling units owned by such person.
                            (xii) Total assets and liabilities.
                    (B) Non-natural persons.--For any person identified 
                in the disclosure required by this paragraph that is 
                not a natural person, the lessor shall provide the 
                information required by subparagraph (A) for that 
                entity and for any persons with ownership interests in 
                that entity and shall provide that information 
                iteratively for each layer of ownership until all 
                ownership interests are traced back to natural persons 
                or publicly traded corporations.
                    (C) Exemption.--Nothing in this paragraph shall 
                require the disclosure of the identity of, or 
                personally-identifying information regarding, 
                shareholders of publicly traded corporations.
            (3) Prohibition on duplication of assistance.--Assistance 
        may not be provided under this section with respect to any 
        dwelling unit for which assistance is provided pursuant to 
        section 6.
    (d) Amount.--
            (1) In general.--Subject to paragraph (2), the amount of a 
        payment under this section with respect to a covered rental 
        dwelling unit may not exceed the aggregate amount of rent for 
        the dwelling unit suspended or forgiven pursuant to section 
        2(a) or 3(a) and attributable only to days during the COVID-19 
        suspension period that the dwelling unit was occupied by a 
        tenant otherwise required to pay rent for such occupancy.
            (2) Reimbursement for rent paid by tenants.--In making 
        payments under this section with respect to any covered 
        dwelling unit for which tenant made a payment of rent during 
        the COVID-19 suspension period, the Secretary shall--
                    (A) reduce the amount of the payment to the lessor 
                under paragraph (1) by the amount of any such rent 
                paid; and
                    (B) make a payment to such tenant in the amount of 
                any such rent paid.
    (e) Priority.--In making payments under this section, the Secretary 
shall establish a tiered system for priority for such payments based on 
assets, revenues, disclosure requirements, and profit status with 
respect to lessors. Such system shall provide priority for making 
payments to eligible lessors that are nonprofit organizations or 
entities and lessors having the fewest available amount of assets.
    (f) Recapture.--If a lessor violates any requirement with respect 
to a covered rental dwelling unit under any certification or agreement 
entered into pursuant to subsection (c)(2), the Secretary shall 
recapture from the lessor an amount equal to the entire amount of 
assistance provided under this section that is attributable to such 
dwelling unit and cover such amount recaptured into the Fund.
    (g) Authorization of Appropriations.--There is authorized to be 
appropriated for the Landlord Relief Fund established pursuant to this 
section such sums as may be necessary to reimburse all lessors for all 
rent payments suspended pursuant to section 2(a) or forgiven pursuant 
to section 3(a).

SEC. 6. LENDER RELIEF FUND.

    (a) Establishment.--The Secretary of Housing and Urban Development 
shall establish and manage a Lender Relief Fund (in this section 
referred to as the ``Fund''), to provide mortgagees payments under this 
section to reimburse such mortgagees for mortgage payments suspended 
pursuant to section 2(b) or for residential mortgage debt forgiven 
pursuant to section 3(b).
    (b) Application.--The Secretary shall provide for mortgagees under 
covered residential mortgage loans to apply for reimbursement payments 
from the Fund, which applications shall include the certifications and 
binding agreements required pursuant to subsection (c). The Secretary 
shall provide that an eligible mortgagee may apply for assistance from 
the Fund only once with respect to any covered residential mortgage 
loan.
    (c) Eligibility.--The Secretary may provide a payment under this 
section only with respect to covered residential mortgage loans that 
meet all of the following requirements:
            (1) Fair and inclusive lending requirements.--The mortgagee 
        for the mortgage loan has made such certifications to, and 
        entered into such binding agreements with, the Secretary as the 
        Secretary considers necessary to ensure that during the 5-year 
        period beginning upon initial receipt by such mortgagee of 
        payment under this section for such mortgage loan, such 
        mortgagee shall be subject to the following requirements:
                    (A) Reporting on lending.--The mortgagee shall 
                report annually to the Secretary such detailed 
                information regarding residential mortgage loans made 
                by such mortgagee as the Secretary shall require, 
                including the race, ethnicity, age, and credit score of 
                mortgagors, the zip codes of properties for which 
                mortgages were made, and the interest rates and other 
                loan pricing features of such mortgage loans.
                    (B) Reporting on lender.--The mortgagee shall 
                report annually to the Secretary such detailed 
                information regarding the mortgagee as the Secretary 
                shall require, including the location of the offices of 
                the mortgagee, and practices and systems for outreach 
                to and referral of borrowers.
            (2) Required disclosures.--
                    (A) In general.--The mortgagee for the mortgage 
                loan shall disclose, for any person that has an 
                ownership interest in the mortgagee, including any 
                members, shareholders, general partners, or limited 
                partners, if applicable, the following information:
                            (i) Name.
                            (ii) Address of place of residence.
                            (iii) Date of birth.
                            (iv) Social Security Number or Employer 
                        Identification Number.
                            (v) Size of their interest in the 
                        mortgagee.
                            (vi) Type of entity.
                            (vii) State of incorporation.
                            (viii) Registered agent.
                            (ix) Address of any covered rental dwelling 
                        units owned by such person.
                            (x) Occupancy or vacancy status of all 
                        covered rental dwelling units owned by such 
                        person.
                            (xi) Current rents charged for all covered 
                        rental dwelling units owned by such person.
                            (xii) Total assets and liabilities.
                    (B) Non-natural persons.--For any person identified 
                in the disclosure required by this paragraph that is 
                not a natural person, the mortgagee shall provide the 
                information required by subparagraph (A) for that 
                entity and for any persons with ownership interests in 
                that entity and shall provide that information 
                iteratively for each layer of ownership until all 
                ownership interests are traced back to natural persons 
                or publicly traded corporations.
                    (C) Exemption.--Nothing in this paragraph shall 
                require the disclosure of the identity of, or 
                personally-identifying information regarding, 
                shareholders of publicly traded corporations.
            (3) Prohibition on duplication of assistance.--Assistance 
        may not be provided under this section with respect to any 
        dwelling unit subject to a covered residential mortgage loan 
        for which assistance is provided pursuant to section 5.
    (d) Amount.--
            (1) In general.--Subject to paragraph (2), the amount of a 
        payment under this section with respect to a covered 
        residential mortgage may not exceed the aggregate amount of 
        mortgage payments under the mortgage suspended pursuant to 
        section 2(b) or forgiven pursuant to section 3(b).
            (2) Reimbursement for mortgage payments made by 
        mortgagors.--In making payments under this section with respect 
        to any covered residential mortgage loan for which the 
        mortgagor made a mortgage payment during the COVID-19 
        suspension period, the Secretary shall--
                    (A) reduce the amount of the payment to the 
                mortgagee under paragraph (1) by the amount of any such 
                mortgage payments paid; and
                    (B) make a payment to the mortgagor in the amount 
                of any such mortgages payments paid.
    (e) Authorization of Appropriations.--There is authorized to be 
appropriated for the Lender Relief Fund established pursuant to this 
section such sums as may be necessary to reimburse all lessors for all 
rent payments suspended pursuant to section 2(b) or forgiven pursuant 
to section 3(b).

SEC. 7. AFFORDABLE HOUSING ACQUISITION FUND.

    (a) Establishment.--The Secretary of Housing and Urban Development 
shall establish and manage an Affordable Housing Acquisition Fund (in 
this section referred to as the ``Fund''), to fund the acquisition of 
multifamily housing projects by eligible purchasers to--
            (1) ensure that tenants have access to safe and habitable 
        housing conditions regardless of their landlords' ability to 
        pay for repairs and maintenance during and after the COVID-19 
        pandemic;
            (2) prevent financial hardship for rental property owners; 
        and
            (3) prevent a mass exit in the rental housing market that 
        results in massive corporate purchases similar to the 2008 
        economic crisis.
    (b) First Right of Purchase.--
            (1) Notice to secretary.--During the 5-year period 
        beginning upon the date of the enactment of this Act, the owner 
        of a multifamily housing property may not sell or transfer 
        ownership of such property unless--
                    (A) the owner has notified the Secretary, in 
                accordance with such requirements as the Secretary 
                shall establish, of the owner's intent to sell or 
                transfer the property;
                    (B) a period of 60 days, beginning upon provision 
                of such notice to the Secretary, has elapsed; and
                    (C) if during such 60-day period any eligible 
                purchaser under paragraph (3) applies to the Secretary 
                for purchase assistance under subsection (c) with 
                respect to such property, the Secretary has approved or 
                denied such application and, if approved, the eligible 
                purchaser has made a bona fide offer to the owner to 
                purchase such project in the amount determined under 
                subsection (c)(3)(A).
            (2) Notice to eligible purchasers.--Upon provision to the 
        Secretary of notice under paragraph (1)(A) regarding a 
        multifamily housing project, the Secretary shall take such 
        actions as may be necessary to provide notice to eligible 
        purchasers of the owner's intent to sell or transfer the 
        property.
            (3) Eligible purchasers.--For purposes of this section, an 
        eligible purchaser under this paragraph shall be a nonprofit 
        organization, a public housing agency, a cooperative housing 
        association, a community land trust, or a State or unit of 
        local government or an agency thereof, as such terms are 
        defined by the Secretary.
    (c) Purchase Assistance.--
            (1) Application.--The Secretary shall provide for eligible 
        purchasers to apply for assistance from the Fund to cover the 
        cost of acquisition of a multifamily housing project for which 
        notice has been submitted pursuant to subsection (1)(A).
            (2) Criteria.--The Secretary shall establish such criteria 
        and preferences as the Secretary considers appropriate to 
        select an eligible purchaser for assistance under this section 
        in cases in which more than one approvable application for such 
        assistance is submitted with respect to a single multifamily 
        housing project.
            (3) Amount.--Pursuant to an application submitted under 
        paragraph (1) with respect to a multifamily housing project, 
        the Secretary may provide assistance from the Fund on behalf of 
        eligible purchaser submitting such application, in an amount 
        equal to the purchase price for the project agreed to under 
        subparagraph (A) of this paragraph, but only if the Secretary 
        determines that--
                    (A) such eligible purchaser and the owner of such 
                multifamily housing project have voluntarily agreed to 
                a sale of such project to the eligible purchaser for an 
                amount not exceeding the fair market value of the 
                project as of the time of provision of assistance from 
                the Fund for purchase of the project, as determined by 
                the Secretary; and
                    (B) the eligible purchaser has made the 
                certifications and entered into the agreements required 
                under subsection (d) with respect to the project.
    (d) Affordable Housing Restrictions.--The certifications and 
agreements required under this subsection with respect to a multifamily 
housing project are such certifications to, and binding agreements 
with, the Secretary as the Secretary considers necessary to ensure that 
during the useful life of the project the project will comply with the 
following requirements:
            (1) Affordable housing.--The project shall comply with the 
        requirements under section 215(a) of the Cranston-Gonzalez 
        National Affordable Housing Act (42 U.S.C. 12745(a)) necessary 
        to qualify under such section as affordable housing.
            (2) Just-cause evictions.--A tenant of the project may be 
        evicted only for just cause and only pursuant to advance 
        written notice to the tenant of such just cause.
            (3) Source of income discrimination.--A prospective tenant 
        household of the project may not be refused rental of a 
        dwelling unit in the project, and a prospective tenant 
        household or tenant household may not be discriminated against 
        in the renting of a dwelling unit in the project, based on the 
        source of income of such household, including income under the 
        program under section 8(o) of the United States Housing Act of 
        1937 (42 U.S.C. 1437f(o)) or any similar tenant-based rental 
        assistance program.
            (4) Admissions restrictions.--Tenancy of dwelling units in 
        the project may not be restricted on the basis of sexual 
        identity or orientation, gender identity or expression, 
        conviction or arrest record, credit history, or immigration 
        status.
            (5) Supportive services.--Residents of the project shall be 
        provided with free, voluntary supportive services that help 
        address the needs of those experiencing chronic homelessness or 
        housing instability, including access to healthcare, employment 
        or education assistance, childcare, financial literacy 
        education, and other community-based support services, as the 
        Secretary shall require.
            (6) Democratic control.--Tenants of the project shall have 
        control of living and operating conditions in the project 
        through a democratically elected resident board or council.
    (e) Recapture.--If an eligible purchaser violates any requirement 
with respect to a multifamily housing project purchased with assistance 
provided from the Fund under any certification or agreement entered 
into pursuant to subsection (d), the Secretary shall recapture from the 
eligible purchase an amount equal to the amount of such assistance 
provided and shall cover such amount recaptured into the Fund.
    (f) Authorization of Appropriations.--There is authorized to be 
appropriated for the Affordable Housing Acquisition Fund established 
pursuant to this section such sums as may be necessary--
            (1) for assistance under this section to fund acquisition 
        of multifamily housing projects by eligible purchasers; and
            (2) for each fiscal year, for assistance for the operation 
        and maintenance of eligible properties purchased with 
        assistance provided from the Fund.

SEC. 8. DEFINITIONS.

    For purposes of this Act, the following definitions shall apply:
            (1) Covered rental dwelling unit.--The term ``covered 
        rental dwelling unit'' means a dwelling that is occupied by a 
        tenant--
                    (A) as a primary residence; and
                    (B)(i) pursuant to a residential lease; or
                    (ii) without a lease or with a lease terminable at 
                will under State law.
        Such term includes such a dwelling unit in multifamily housing, 
        single-family housing, a condominium unit, a unit in 
        cooperative housing, a dwelling unit that is occupied pursuant 
        to a sublease, a single-room occupancy unit, and a manufactured 
        housing dwelling unit and the lot on which it is located.
            (2) Covered residential mortgage loan.--The term ``covered 
        residential mortgage loan'' means any consumer credit 
        transaction that is secured by a mortgage, deed of trust, or 
        other equivalent consensual security interest on residence 
        consisting of a single dwelling unit that is occupied by the 
        mortgagor as a primary residence.
            (3) COVID-19 suspension period.--The term ``COVID-19 
        suspension period'' means the period beginning on March 1, 
        2020, and ending on April 1, 2022.
            (4) Multifamily housing project.--The term ``multifamily 
        housing project'' means a residential structure consisting of 5 
        or more dwelling units.
            (5) Secretary.--The term ``Secretary'' means the Secretary 
        of Housing and Urban Development.

SEC. 9. REGULATIONS.

    The Secretary may issue any regulations necessary to carry out this 
Act.
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