United States · Bill · HR
H.R. 7809 (116th)
HOPE Act of 2020
Introduced
29 July 2020
Last action
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Status
Referred to the House Committee on Financial Services.
Sponsors
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Subjects
Discovery layer
Source updated
3 January 2025
Summary
Helping Open Properties Endeavor Act of 2020 or the HOPE Act of 2020 This bill establishes an equity facility in the Department of the Treasury to assist commercial mortgage borrowers. Specifically, Treasury must guarantee the purchase by financial institutions of certain equity instruments backed by a commercial mortgage. The bill defines commercial mortgage as a mortgage loan secured by an interest in real property owned for rental income. Borrowers with reduced revenues from their commercial property may qualify for an amount not to exceed 10% of the outstanding amount owed on their commercial mortgage. The bill sets forth eligibility requirements for borrowers, as well as requirements for the equity instruments, including rates, fees, repayment, and the rights of purchasers.
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Documents
3 official files
Introduced in House (text)
Introduced in House (text)
Introduced in House · EN · 29 July 2020
Introduced in House (PDF)
Introduced in House · EN · 29 July 2020
Introduced in House
summary · EN · 29 July 2020
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/116th-congress/house-bill/7809
- Open data entity: https://api.congress.gov/v3/bill/116/hr/7809