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Ex. FED-368 Order Primary source read

Circular 26-20-8

Foreclosure Moratorium for Borrowers Affected by COVID19

VA, Loan Guaranty Service · United States (VA-guaranteed home loans) (Federal)

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The record

Jurisdiction
United States (VA-guaranteed home loans)
Level
Federal
Authority
38 U.S.C. ch. 37; 38 C.F.R. § 36.4319
Issued
2020-03-18 Mar. 18, 2020
Effective
2020-03-18 for sixty days (read as 2020-03-18)
End
2020-05-17 (extended by Circular 26-20-18); rescinded Apr. 1, 2021 (read as 2020-05-17)
In force
Mar. 18, 2020 to May 17, 2020
Quarters
2020 Q2
Limitation types
Other
Addressees
  • VA loan holders and servicers
Functions reached
  • SV
  • ML
Collection
Federal commerce, travel, workplace and finance layer FED-B

Operative words

1. Purpose. The Department of Veterans Affairs (VA) strongly encourages mortgage servicers [to assist borrowers impacted by COVID-19]... 2. Moratorium on Foreclosure. Although the loan holder is ultimately responsible for [determining when to initiate foreclosure, VA strongly] encourages loan holders to establish a sixty-day moratorium beginning March 18, 2020, on [completing pending foreclosures or initiating new foreclosures on loans]. 3. Rescission: This Circular is rescinded April 1, 2021.

Enforcement

VA program guidance; the CARES Act § 4022(c)(2) made the same 60-day moratorium mandatory nine days later

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.