Forbearance of loan payments for borrowers of properties with Federally backed loans

(a) In general With respect to any disaster, a borrower with a covered mortgage loan for a property located within the disaster area that is damaged or destroyed by such disaster may request a forbearance on such loan during the covered period. (b) Request for forbearance A borrower described in subsection (a) may request a forbearance by— (1) submitting a written request for a forbearance to the borrower’s servicer; and (2) providing documentation of verifiable damage or destruction to the property. (c) Grant of forbearance (1) In general Upon receiving a request for a forbearance from a borrower described in subsection (a), the borrower’s servicer shall grant a forbearance— (A) for a duration of 180 days; and (B) regardless of the delinquency status of the covered mortgage loan. (2) Extension of forbearance At any time during the forbearance, a borrower may request an extension, of not more than 180 days, of the duration described in paragraph (1). (d) Right To discontinue A borrower described in subsection (a) may request to discontinue the forbearance at any time. (e) Accrual During any forbearance granted under subsection (c), no fees, penalties, or 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) shall accrue on the borrower’s account.