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UPDATE (June 22, 2020): COVID-19 Homeowner, Tenant, and Consumer Relief Law of 2020”, last Thursday the bill failed in Assembly.  Many mortgage loan market participants breathed a sigh of relief as the bill would have enacted sweeping new forbearance standards beyond federal CARES Act mandates for residential and multifamily mortgages. *** A proposed piece of COVID-19 relief legislation could have major implications for California lenders and servicers, particularly in the mortgage lending industry, if passed into law. The assembly bill, entitled “COVID-19 Homeowner, Tenant, and Consumer Relief Law of 2020,” (“AB 2501”) is intended to provide relief to residential and… Continue Reading AB 2501 – COVID-19 Homeowner, Tenant, and Consumer Relief Law of 2020