The $1.9 trillion COVID-19 relief bill on its way to President Biden’s desk includes only one provision specific to the residential mortgage industry.

Several trade groups are urging the FHA to adopt identical compliance aid language used in other federal agency regulations when allowing private flood coverage as an option for single-family insured loans.

The bill includes more than $10 billion in homeowner assistance funding. The vast majority of that would go toward helping borrowers pay their mortgages, property taxes, home insurance and utilities.

With Democrats in control of Congress, Sens. Jack Reed, Sherrod Brown and Patrick Leahy have reintroduced a 2020 bill with an eye toward including some of its language in the American Rescue Plan.

HUD issued a final rule on the much-debated disparate-impact theory in September. A month later, a federal court ordered a preliminary injunction blocking its implementation.

The fund could be modeled after the Hardest Hit Fund, providing funds to state housing finance agencies to help borrowers bring their mortgages current.

Democrats on the Senate Banking Committee are putting pressure on FHFA to answer whether the GSEs’ NPL sales impact homeowners’ access to foreclosure and forbearance protections under the CARES Act.

The new PSPA will allow Freddie Mac and Fannie Mae to continue retaining earnings until they reach the regulatory minimum capital — almost $283 billion combined.

Lenders are likely to see tougher regulatory enforcement in the coming years, along with increased support for affordable housing.

It wasn’t clear if coronavirus forbearance for federally backed mortgages was allowed after the end of 2020. Federal agencies addressed the issue near the end of December, though there’s still uncertainty.